Shorenstein Buys Fully Leased SoHo Office Property From Tishman Speyer

Tishman Speyer has sold the 12-story, 155,000-square-foot office building at 148 Lafayette Street in SoHo, at the corner of Lafayette and Howard streets, to Shorenstein Properties for $132.5 million, or $866 per square foot, according to Tishman.

The deal was repped by Newmark‘s Adam Spies, Doug Harmon, Adam Doneger, Marcella Fasulo, Avery Silverstein and Joshua King.

Shorenstein outbid several institutional bidders, including private equity funds, for the building, according to a source with knowledge of the deal. The Real Deal was first to report the sale.

Tishman is selling the property on a quick turnaround at a sizable profit, having purchased the building from Epic in May 2025 for $105.5 million, with $68.3 million of that coming in the form of an acquisition loan from Blackstone Real Estate Debt Strategies. Prior to the 2025 purchase, Tishman had not bought an office building anywhere in the U.S. since 2021, and had not purchased an office building in Manhattan since 2019, according to previous reporting in Commercial Observer.

The $105.5 million purchase price in 2025 represented a decline from the $126.5 million Epic paid for the building in 2012.

“We acquired 148 Lafayette with a clear plan and executed it ahead of schedule, generating an attractive return for our investors,” Chris Shehadeh, senior managing director at Tishman, said in a statement. “This successful outcome reaffirms our conviction in the continued demand for premier office assets in prime Manhattan neighborhoods to both companies seeking exceptional work environments and institutional investors targeting high-quality real estate.”

The building contains 141,359 square feet of office space, which is 100 percent leased to tenants including investment firm General Catalyst, artificial intelligence code review firm Graphite, coworking firm WeWork, cosmetics company Charlotte Tilbury, digital picture frame company Aura Frames and consulting firm Keystone. 

There is also 13,454 square feet of retail on the ground and lower floors, which is also 100 percent leased to martial arts gym Five Points Academy and discount luxury retailer 260 Sample Sale.

Around 70 percent of the building’s office portion has been leased to new tenants since January 2025, and all but 12,315 square feet of the space is leased up through the 2030s. Rent for the newer leases ranges from $70 to $120 per square foot.

The LEED Gold building was built in 1913, with renovations in 2007 and 2017, according to Tishman Speyer. 

Tishman has been busy on the deal front. In August, the company placed the fee simple interest for 6 Grand Central, the former 666 Third Avenue, up for sale for a price of around $450 million. 

This followed an announcement in June that the firm’s debt platform had purchased the $40 million mezzanine loan on the Emery Roth & Sons-designed One Dag Hammarskjold Plaza, as CO first reported, immediately following the 50-story office building’s purchase by 601W Companies and David Werner Real Estate Investments.    

Shorenstein Properties and Newmark did not respond to requests for comment.

Larry Getlen can be reached at lgetlen@commercialobserver.com. 

Update: This story has been updated to reflect the deal’s exact purchase price upon the closing of the sale.