Lafayette Smoke Shop Space Purchased for $15M
Lauren Elkies Schram March 20, 2014, 12:37 p.m.
The old Lafayette Smoke Shop space at 63 Spring Street was snagged this morning for $15 million.
“We’re planning to lease the entire 5,000-square-foot building to one tenant with flagship opportunities,” the buyer, Jack Terzi, CEO of JTRE, said. “There aren’t many spaces in Soho where you can get that corner asset so we jumped on it.”
RKF Investment Sales & Advisory Services’ Jeff Fishman and Jonathan Butwin represented the sellers, Jason Silverstein and David Shorenstein of Silvershore Properties. Mr. Terzi was represented by RKF’s Marc Finkel.
JTRE is commencing the marketing of the vacant property today. Mr. Terzi wouldn’t disclose the asking rent.
“We had 72 hours to take down the deal and we did it,” Mr. Terzi said.