SL Green Realty acquires 102 Greene Street

New York City --SL Green Realty Corp. announced it has acquired the retail property located at 102 Greene Street for $32.25 million. The transaction marks the continued growth of the company’s prime retail property portfolio, which already includes several other assets in Manhattan’s SoHo retail district.



The 9,200-sq.-ft. asset currently features the Galeria Melissa footwear store, and also includes two residential units and 5,500 sq. ft. of development rights. The building is located on what is becoming one of the top luxury boutique blocks of SoHo between Prince Street and Spring Street, across the street from Tiffany and Co. and surrounded by such tenants as Ralph Lauren, Apple, Etro, Fendi, Dior, Chloe, and Louis Vuitton.



“SoHo has experienced a tremendous surge in upscale shopping, fueled by both tourism and evolving demographics,” said SL Green managing director Brett Herschenfeld. “We expect the current trends to continue for the long-term, based on the strong economic outlook and compelling neighborhood features. SL Green will now reposition the property, consistent with our other investments in the area.”



RKF arranged the sale, representing both the buyer and the seller.