Cofinance Group, Kings Capital Acquire Mixed-Use Building in SoHo for $21M

The Luxembourg-based Cofinance Group, along with real estate investment firm Kings Capital, has acquired a mixed-use building in SoHo for $21 million, according to city records made public Friday.

The joint venture, through the entity 392 West Broadway Owner, purchased the five-story commercial and residential building at 392 West Broadway from California-based LLC 392 Dirty Building Holdings, records show.

Alexandre de Montebello, head of U.S. operations at Cofinance Group, signed the deal for the buyer, while Joseph Rust from accounting firm Prager Metis signed for the seller, according to records.

It’s unclear who brokered the deal. Rust and a spokesperson for Cofinance Group did not immediately respond to requests for comment.

Built in 1872, the SoHo building between Broome and Spring streets comprises four commercial units on the first through fourth floors, and one residential unit on the top floor.

Current retail tenants at the property include clothing store 7 For All Mankind and retail brand Silk Laundry. Meanwhile, the residential unit on the top floor is a 1,400-square-foot loft studio renting for $8,500 per month, according to StreetEasy.

It’s unclear what Cofinance Group intends to do with 392 West Broadway, but the firm’s other New York City properties include the 41-story residential building at 500 West 43rd Street in Hell’s Kitchen, and the three-story mixed-use property at 336 State Street in Boerum Hill, Brooklyn, according to its website.

And, in 2023, Cofinance Group sold the three-story commercial building at 137 Second Avenue in the East Village for $20 million, Crain’s New York Business reported at the time.

Update: This story has been updated to include that Kings Capital was part of the joint venture with Cofinance Group.

Isabelle Durso can be reached at idurso@commercialobserver.com.