{"id":244566,"date":"2026-05-26T23:36:17","date_gmt":"2026-05-26T23:36:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/244566\/"},"modified":"2026-05-26T23:36:17","modified_gmt":"2026-05-26T23:36:17","slug":"capstone-equities-acquires-140-crosby-street-for-51m-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/244566\/","title":{"rendered":"Capstone Equities Acquires 140 Crosby Street for $51M \u2013 Commercial Observer"},"content":{"rendered":"<p><a href=\"https:\/\/commercialobserver.com\/company\/capstone-equities\/\" title=\"Capstone Equities\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Capstone Equities<\/a> has taken ownership of a SoHo office building after moving to foreclose on it last year.<\/p>\n<p>Capstone-linked entity CE 140 Crosby Owner acquired 140 Crosby Street for $51.4 million from MC 19 East Houston, an entity tied to <a href=\"https:\/\/commercialobserver.com\/company\/madison-capital\/\" title=\"Madison Capital\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Madison Capital<\/a>, <a target=\"_blank\" rel=\"noopener nofollow\" href=\"https:\/\/a836-acris.nyc.gov\/DS\/DocumentSearch\/DocumentDetail?doc_id=2026052000951014\">according to city records<\/a> made public Tuesday.\u00a0<\/p>\n<p>SEE ALSO: <a href=\"https:\/\/commercialobserver.com\/2026\/05\/tangers-justin-stein-data-retail-shopping\/\" rel=\"nofollow noopener\" target=\"_blank\">Tanger\u2019s Justin Stein On Leveraging Data and Gnoshes to Grow a Retail Portfolio<\/a><\/p>\n<p>The 35,000-square-foot Class A office building \u2014 also known as 606 Broadway and 19 East Houston Street \u2014 is bounded by East Houston and Prince streets in the heart of SoHo\u2019s retail corridor.\u00a0<\/p>\n<p>Current retail tenants at 140 Crosby include Citizens Bank and electronics store JBL, but the offices above were largely empty as of last August, when Capstone filed a foreclosure lawsuit against former co-owners, Madison Capital and <a href=\"https:\/\/commercialobserver.com\/company\/vornado-realty-trust\/\" title=\"Vornado Realty Trust\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Vornado Realty Trust<\/a>. The developers had previously defaulted on the property\u2019s $75 million mortgage debt, which Capstone acquired in July, <a target=\"_blank\" rel=\"noopener nofollow\" href=\"https:\/\/therealdeal.com\/new-york\/2025\/08\/26\/capstone-equities-foreclosing-on-vornados-140-crosby-street\/\">The Real Deal reported<\/a>.\u00a0<\/p>\n<p>Capstone completed the foreclosure acquisition this month with a $39.6 million agreement with <a href=\"https:\/\/commercialobserver.com\/company\/prime-finance\/\" title=\"Prime Finance\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Prime Finance<\/a>, according to city records. The loan consolidated prior mortgages and a new gap mortgage into a single lien. The agreement detailed an outstanding principal of $34 million on the property, and included a gap mortgage for $5.53 million.<\/p>\n<p>Madison and Vornado constructed the six-story office and retail building at 140 Crosby from the ground up in 2019. Five years later, with the development failing to find its footing and a default on the horizon, the developers marketed the building for sale at $100 million, TRD reported, but failed to find a buyer.\u00a0<\/p>\n<p>A spokesperson for Vornado declined to comment. Capstone, Madison and Prime Finance did not immediately respond to requests for comment.<\/p>\n<p>Emily Davis can be reached at <a href=\"https:\/\/commercialobserver.com\/2026\/05\/140-crosby-street-sale-capstone-equities\/mailto:edavis@commercialobserver.com\" rel=\"nofollow noopener\" target=\"_blank\">edavis@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Capstone Equities has taken ownership of a SoHo office building after moving to foreclose on it last year.&hellip;\n","protected":false},"author":2,"featured_media":244567,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[95506,95507,95508,98,100,99,2664,9,24,63],"class_list":["post-244566","post","type-post","status-publish","format-standard","has-post-thumbnail","category-brooklyn","tag-140-crosby-street","tag-19-east-houston-street","tag-606-broadway-channel","tag-brooklyn","tag-brooklyn-headlines","tag-brooklyn-news","tag-investments-sales","tag-new-york","tag-new-york-city","tag-nyc"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/244566","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=244566"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/244566\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/244567"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=244566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=244566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=244566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}