Jon Krasner’s 7G Group Buys Another SoHo Property for $21.8M

Easy as 1-2-3?

Jon Krasner’s 7G Group made its second SoHo purchase in August after acquiring 123 Lafayette Street for $21.8 million, according to property records.

Krasner bought the 21,916-square-foot property from First Atlantic Capital, which is taking about a $12 million loss after purchasing it in January 2016. This is a far cry from the property’s 2016 sale, when Larry Gluck’s Stellar Management tripled its money after selling 123 Lafayette for three times what it had paid just three years earlier, according to reporting in Commercial Observer at the time. 

First Atlantic and 7G Group did not immediately respond to requests for comment.

The retail component of the six-story office and retail building located between Howard and Canal streets is leased to the flagship location of cosmetic retailer Glossier as well as to Nine Moons Piercing and SoHo Vascular.

Krasner seems to be making bullish moves in SoHo, having purchased 40 Thompson Street from Steven Elghanayan’s Epic for $23.1 million earlier in August, as CO previously reported.

Krasner also seems to be looking to capitalize on properties that are already fully leased on the retail side, with 40 Thompson occupied by Crown Properties, advertising agency ​​Barbarian and Maison Close Restaurant.

SoHo saw 29,510 square feet of retail leases across seven deals in the second quarter of 2025, and asking rents in the neighborhood ranged between $597 and $762 per square foot with a 7.1 percent year-over-year price increase on Spring Street between Broadway and West Broadway, according to a report from CBRE.

Mark Hallum can be reached at mhallum@commercialobserver.com.