K Property buys NYC Soho buildings ahead of commercial renovation

K Property buys NYC Soho buildings ahead of commercial renovation

Published at: 2018-01-11 15:11 | Author: CIJ USA
K Property Group and its Boston-based partner Intercontinental Real Estate Corporation have paid $46 million for two adjoining commercial buildings in Soho. Located at 30-32 Howard Street, the buyers intend to renovate and combining the properties. The plans call for the creation of 42,000 sqf of office space, which includes pre-built suites on lower floors and a duplex office penthouse with a rooftop terrace on floors five and six. The Monsees family, which operated a library-ladder manufacturing business out of the two buildings, is the seller.

“This corner still has this feel that Soho used to have,” said Rod Kritsberg’s K Property Group. “You can just walk the streets and see how well Howard Street is doing.” K Property hired Spector Group to design floor plans for the new office spaces. The buildings will get a new facade, among other changes. The available retail space next to Rick Owens will be a 2,500-square-foot, column-free rectangle, Kritsberg said.

Similar Stories:

Boston’s 28 State Street sells for $418m
A 40-story class A office building in Boston has been sold by a joint venture between Rock  »
Boca Raton office building sells for $23.67m
A partnership between Mainstreet Capital Partners and an investment fund managed by The Da  »
Savanna Real Estate Fund buys 5 Bryant Park in New York City for $640m
Savanna Real Estate Fund bought 5 Bryant Park, a office tower in Midtown Manhattan, for $6  »
Commerz Real buys 222 East 41st Street for $332m
Commerz Real bought 222 East 41st Street in Midtown Manhattan for $332.5m from Columbia Pr  »
“Steady,” “healthy,” “robust” and even “outperformed” were some of the adj   »
Orlando’s economic prospects haven’t looked so positive in ages. Not only are Florida   »
From the north to the south of Florida, occupancy rates of the largest office towers are r   »
Tampa mayor Bob Buckhorn was on hand at the groundbreaking ceremony as a show of support f   »
OPEC is back to its squabbling ways. But investors who are b  »
OPEC is back to its squabbling ways. But investors who are b  »
David Bassanese of BetaShares Capital says the general trend  »
David Bassanese of BetaShares Capital says the general trend  »