Loft Building in Historic Section of Soho Fetches $14.5M

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10 Greene Street.
10 Greene Street.

The property at 10 Greene Street in Soho’s Cast Iron District was sold to Javeri Capital, a family-owned investment firm, for $14.5 million, according to a press release issued by Highcap Group.

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The Greene Street loft building, built in 1869, includes roughly 12,500 square feet and sits between Grand and Canal Streets. It has approximately 28 feet of frontage and features a cast-iron facade. The property also has 1,500 square feet of air rights.

The first floor is currently occupied by The Real McCoys, a high-end store selling men’s wear. The second through fifth floors are now vacant.

Highcap Group’s Michael Ferrara represented both Javeri Capital and the seller, a family that had owned the property for more than forty years (Mr. Ferrara declined to disclose the identity of the family.) The off-market deal closed Dec. 11.

“It’s a beautiful asset on a heavily-trafficked street that’s only going to increase in value over time as Canal Street continues to grow and retailers continue to spread out across Soho,” said Mr. Ferrara.

Atit Javeri, a principal at Javeri Capital, could not immediately be reached for comment.