London-Based BNF Capital Buys 43 Crosby Street in SoHo for $21M
By Isabelle Durso October 1, 2024 1:30 pm
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London-based investment firm BNF Capital has purchased Squire Investments‘ 43 Crosby Street in SoHo for $20.8 million, according to city records made public Tuesday.
BNF Capital bought the five-story, 11,520-square-foot retail and residential building through the entity Crosbyview, while Squire sold the property through the entity 43 Crosby Street Property Owner, records show.
Nic Fallows, BNF Capital’s chief financial officer, was the listed signatory for the buyer, and Squire founder Ryan Solomon signed for the seller.
Cushman & Wakefield‘s Michael Gembecki, Bobby Carrozzo and Robert Burton brokered the deal for the seller. It’s unclear who brokered the deal for the buyer. Spokespeople for BNF Capital and Squire did not immediately respond to requests for comment.
Squire bought the 1888-built SoHo building in October 2014 for $15 million, according to PincusCo, which first reported the latest deal. The building, on Crosby Street between Broome and Spring streets, has five residential units as well as ground-floor retail, which is occupied by the Ashley Longshore Studio Gallery.
The developer refinanced the property along with several others in September 2020 as part of a $27 million loan from City National Bank, according to a source familiar with the matter.
Squire also has several major tenants at its office building at 817 Broadway in Greenwich Village, which it owns alongside Taconic Partners and Nuveen, as Commercial Observer previously reported.
Tenants of that building include private equity firm Avenir and venture capital firms Inspired Capital and 25madison.
Isabelle Durso can be reached at idurso@commercialobserver.com.
