131-133 Prince Street Case Study
Record-Breaking SoHo Retail Sale
3,000 SF
2014
Overview
The $50M sale of the 131-133 Prince Street retail co-op to Acadia Realty Trust set a SoHo retail record at $16,667 per SF. Skyline Properties worked through a complicated co-op structure and a tax-free exchange to deliver an institutional public REIT buyer for prime ground-floor SoHo retail, and the price confirmed what space on one of Manhattan's most sought-after shopping corridors is worth.
The Challenge
Getting full value for a small but prime SoHo retail space meant working through a complicated co-op structure while finding buyers who could pay record pricing.
Our Solution
We structured the sale as a tax-free exchange and targeted institutional REIT buyers who could justify premium pricing for prime SoHo exposure in their retail portfolios.
The Result
Sold to Acadia Realty Trust for $50 million. At $16,667 per SF, it set the record for SoHo retail at the time.
Press Coverage
2 articles · 2 outletsCommercial Observer
The Real Deal
Frequently Asked Questions
Who brokered the 131-133 Prince Street sale?
Robert Khodadadian of Skyline Properties closed the $50M sale of the 131-133 Prince Street retail co-op in SoHo to Acadia Realty Trust in 2014.
How much did 131-133 Prince Street sell for?
The ground-floor SoHo retail co-op sold for $50 million in 2014, a record $16,667 per square foot for SoHo retail at the time.
Who bought 131-133 Prince Street?
Acadia Realty Trust, a public REIT, acquired the property in a transaction structured as a tax-free exchange.
Why was the 131-133 Prince Street sale a record?
At $16,667 per square foot, the 3,000 SF prime SoHo retail co-op set a SoHo retail price record at the time, on one of Manhattan's most sought-after shopping streets.
Deal Metrics
Transaction Parties
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Discuss Your PropertyPress Coverage
More press on 131-133 Prince Street
3 press features covering the $50M transaction at 131-133 Prince Street.
SoHo Retail Co-op Acadia Prince Street
Acadia closes on SoHo retail co-op at Prince Street.
Acadia Closes $50M Purchase of SoHo Retail Co-ops
131-133 Prince Street retail co-op trades in major SoHo transaction to Acadia Realty Trust.
Acadia in Lead to Land SoHo Retail Co-op for $50M
131-133 Prince Street retail co-op in contract to Acadia Realty Trust at $16,667 per square foot.
Price, buyer, seller, $/SF, source citations
