72 Greene Street
SoHo Cast-Iron District Landmark Sale
48,000 SF
2012
Overview
The $42M sale of 72 Greene Street placed a 48,000 SF historic cast-iron building with prime SoHo retail frontage with L3 Capital, a retail-focused investor, at $875 per square foot. Two years before Skyline's record-setting $50M sale of the 131-133 Prince Street retail co-op, this transaction established the firm's track record in SoHo's landmark retail corridors.
The Challenge
Historic cast-iron district buildings carry landmark constraints alongside premier retail positioning. Valuing 72 Greene Street meant weighing SoHo's retail corridor strength against the specific requirements of operating a landmarked asset.
Our Approach
Skyline positioned the building's Greene Street retail frontage to investors specializing in high-street retail, reaching a buyer pool that prices SoHo's corridor fundamentals rather than discounting for landmark complexity.
The Result
The building sold for $42 million — $875 per square foot — to L3 Capital, with Skyline's process connecting a Chicago-based seller, Centrum Properties, to a specialist retail investor.
Key Takeaways
- Prime Greene Street retail frontage in the SoHo cast-iron historic district
- Specialist retail buyers price corridor fundamentals over landmark complexity
- Established Skyline's SoHo track record ahead of the record 131-133 Prince Street sale
- $875/SF for a 48,000 SF landmarked mixed-use asset
Press Coverage
1 article · 1 outletTraded
Frequently Asked Questions
Who brokered the sale of 72 Greene Street?
Robert Khodadadian of Skyline Properties brokered the $42M sale of 72 Greene Street from Centrum Properties to L3 Capital in 2012.
How much did 72 Greene Street sell for?
The 48,000 SF historic SoHo building sold for $42 million in 2012 — $875 per square foot.
Who bought 72 Greene Street?
L3 Capital, a retail-focused real estate investor, acquired the cast-iron district building for its prime Greene Street retail frontage.
Deal Metrics
Transaction Parties
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More press on 72 Greene Street
4 canonical press features documenting the $42M transaction at 72 Greene Street.
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