{"id":106676,"date":"2026-01-21T01:20:13","date_gmt":"2026-01-21T01:20:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/106676\/"},"modified":"2026-01-21T01:20:13","modified_gmt":"2026-01-21T01:20:13","slug":"blackstone-acquires-113-spring-street-for-45m-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/106676\/","title":{"rendered":"Blackstone Acquires 113 Spring Street for $45M \u2013 Commercial Observer"},"content":{"rendered":"

Blackstone<\/a> is starting this short week off with a \u201cSpring\u201d in its step.\u00a0<\/p>\n

The investment behemoth just snapped up the SoHo retail and office building at 113 Spring Street for $45 million in an all-cash deal, sources familiar with the deal told Commercial Observer.\u00a0<\/p>\n

SEE ALSO: Luzzatto Buys Gehry-Designed Binoculars Building in L.A.<\/a><\/p>\n

The seller is Morgan Stanley, which purchased the asset from Status Capital in August 2015 for $68 million.\u00a0<\/p>\n

Newmark<\/a>\u2019s Adam Spies, Adam Doneger, Brett Siegel, Ben Lushing and Meaghan Philbin negotiated the transaction.\u00a0<\/p>\n

Located midblock between Greene and Mercer streets, the 20,526-square-foot property comprises 11,700 square feet of office space and 8,826 square feet of retail space across three floors, including a basement level. Current tenants include Chanel, which is the largest tenant, leasing almost 9,000 square feet at the building through August 3030 and wellness concept 113 Spring.<\/p>\n

Chanel signed a deal for the basement, ground floor and second floor at 113 Spring Street in a lease that commenced in August 2023, and accounts for roughly 70 percent of the property\u2019s revenue today, according to an offering memorandum on the sale viewed by CO.<\/p>\n

It\u2019s in fashionable company, with neighbors in the prime retail pocket that include Burberry, Givenchy and others within a one-block radius.\u00a0<\/p>\n

\u201cWe are pleased to acquire this attractive retail property located in the heart of one of the city\u2019s most dynamic neighborhoods,\u201d a Blackstone spokesperson said.\u00a0<\/p>\n

While Blackstone is partaking in a version of some retail therapy with its 113 Spring Street acquisition, it also recently sold its SoHo building at 61-63 Crosby Street<\/a> to Vertex for $53 million, as first reported by CO.\u00a0<\/p>\n

The building was part of a four-property portfolio purchased from ASB Real Estate Investments by Blackstone\u2019s opportunistic funds in November 2024 for $197.5 million. Blackstone got to work fully leasing the property and turning it around for a sale a little more than a year later.\u00a0<\/p>\n

\u00a0As the purchase of 113 Spring Street demonstrates, Blackstone continues to view SoHo as an attractive submarket and retail hub, and its focus on retail assets in prime locations across the globe isn\u2019t waning, from Rue Saint-Honor\u00e9 in Paris to New Bond Street in London.\u00a0<\/p>\n

Morgan Stanley and Newmark declined to comment.\u00a0<\/p>\n

Cathy Cunningham can be reached at ccunningham@commercialobserver.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Blackstone is starting this short week off with a \u201cSpring\u201d in its step.\u00a0 The investment behemoth just snapped…\n","protected":false},"author":2,"featured_media":106677,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[10910,45170,48282,48281,48283,9,11,10],"class_list":["post-106676","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-adam-spies","tag-ben-lushing","tag-brett-siegel","tag-investments-sales-adam-doneger","tag-meaghan-philbin","tag-new-york","tag-new-york-headlines","tag-new-york-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/106676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=106676"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/106676\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/106677"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=106676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=106676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=106676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}