Manhattan, N.Y., office space<\/a> with retail. It was reportedly 100% leased at the time of sale.<\/p>\nRecently renovated to create a modern, highly amenitized workplace environment, the LEED Gold-certified building at 148 Lafayette St. rises 12 stories plus an additional penthouse level. It also includes: 13′ slab-to-slab ceilings, oversized windows, a modern attended lobby, and two terraces for tenant use.<\/p>\n
Former owner Tishman Speyer previously acquired the property in June 2025 for $105.5 million in what was, at the time, the real estate firm\u2019s first U.S. office property acquisition since 2021 and its first office investment in New York City since 2019.<\/p>\n
Tishman most recently sold it to Shorenstein for $132.5 million. The investment reflects Shorenstein\u2019s continued focus on acquiring high-quality, income-producing assets in markets that are positioned for long-term rent growth.<\/p>\n
\u201c148 Lafayette is a compelling addition to our portfolio, combining strong in-place cash flow, a high-quality tenant roster and meaningful opportunities for future rent expansion,\u201d said Sean Fay, senior vice president with the Investments Group at Shorenstein. \u201cSoHo\u2019s appeal to technology and venture capital firms, together with its limited supply of high-quality office space, makes it an attractive submarket for investment and future growth. We see an opportunity to build on the property\u2019s recent leasing momentum through active asset management.\u201d<\/p>\n
The roster at 148 Lafayette boasts a diverse mix of tenants, including: venture capital firm General Catalyst, which leased 43,000 square feet of office space at the property last year; \u00a0AI code review platform Graphite, which leased 24,000 square feet of office space here; WeWork; international beauty brand Charlotte Tilbury; and consulting firm Keystone Strategy.<\/p>\n
\u201cWe are proud of the portfolio of top-tier office assets we\u2019ve assembled for Fund XIV that produce attractive cash flow yields and opportunistic total returns, a combination that is rare to find in commercial real estate,\u201d said Colby Wick, chief investment officer at Shorenstein. \u201cWith a growing pipeline of high-quality office offerings and an extremely limited amount of investment capital for the sector, we are excited about the current investment environment.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The boutique office building in Manhattan\u2019s SoHo submarket is LEED Gold certified and incorporates more than 150,000 square feet of class A Manhattan office space, in addition to retail.<\/p>\n","protected":false},"author":48,"featured_media":7564,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\n
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