Sitt Asset Management Buys Two Pink Soho Buildings for $30M


161 Prince Street, left, and 159 Prince Street.
161 Prince Street, left, and 159 Prince Street.

Family-owned real estate investment firm Sitt Asset Management has snagged a pair of pink Soho buildings on Prince Street for a combined $30 million.

Sitt spent $15.9 million for 161 Prince Street and $14.1 million for the adjacent 159 Prince Street, both between West Broadway and Thompson Street. The deal closed on Aug. 31 and appeared in public records today. The seller is listed as Hewitt, N.J.-based MRM Equity LLC.

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Cafe Borgia is at the base of the six-story 161 Prince and Badich customized belts shop is on the ground floor of the five-story 159 Prince.

David Sitt, a principal with Sitt Asset Management, didn’t immediately respond to requests for comment.