Shorenstein Acquires 154 KSF SoHo Office Building

October 29, 2026

Investment New York News Northeast More Office

The acquisition marks the final investment in Shorenstein's value-added real estate fund.

Shorenstein Investment Advisers has acquired 148 Lafayette St., a 154,000-square-foot Class A office property in Manhattan’s SoHo submarket. Tishman Speyer sold the asset for $132.5 million, according to Yardi Matrix.

The transaction marks the final investment in Shorenstein Realty Investors XIV, the company’s value-added real estate fund, and reflects the company’s continued focus on acquiring high-quality, income-producing assets in markets positioned for long-term rent growth.

Located at the corner of Lafayette and Howard streets, 148 Lafayette is a 12-story office building with an additional penthouse level. Recently, the asset completed renovations which included an updated attended lobby and two terraces for tenant use. The LEED Gold-certified building has access to multiple subway lines.

Completed in 1913, 148 Lafayette is fully leased to a variety of tenants, including General Catalyst, Graphite, WeWork, Keystone Strategy and luxury British beauty and skincare brand Charlotte Tilbury. The weighted average remaining lease term is about nine years.

An improving office market

Less than two months ago, Shorenstein acquired Sherry Lane Place, a 300,000-square-foot office tower in Dallas’s Preston Center submarket, from CBRE Investment Management for an undisclosed sum. The property is a 20-story Class AA office tower that delivered in 1982 and recently underwent a comprehensive renovation, with upgrades to its conference facilities, tenant lounge, café and fitness center. The property is 93 percent leased.

The Manhattan office market saw 6.2 million square feet of new leasing in the third quarter, according to a report from Cushman & Wakefield. This was a quarter-over-quarter decline, though still slightly above the three-year average. Renewal leasing surged to 2.9 million square feet in the quarter.

The borough’s overall vacancy fell by 70 basis points during the quarter, to 18.6 percent, the ninth consecutive quarterly decline, Cushman & Wakefield reported. The SoHo submarket, in contrast, has an overall vacancy of 25.2 percent, on an inventory of about 5.2 million square feet.