Loft Building in Historic Section of Soho Fetches $14.5M
Danielle Schlanger Dec. 16, 2014, 5:06 p.m.
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.
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.