The sale of 530-534 Broadway and 536-538 Broadway is now official, and so are $1,000- per-square-foot prices for Soho buildings.
The two connected buildings at the corner of Spring and Broadway, which total 190,000 square feet, sold for $190 million on July 19, according to city records. The Observer reported when this deal went to contract to a group of Israeli investors back in May.
It seems like a building is not sold these days in the retail-heavy district that does not exceed the new $1,000 benchmark.
In March, 600 Broadway, at the corner of Houston Street, went to contract for more than $1,000 per square foot. Two months later, the duo above followed suit. Vornado also joined the party in May when it purchased the 36,000-square-foot building at 155 Spring Street for $45 million.
And in today’s Observer, John Koblin reported that the 88,000-square-foot building at 130 Prince Street sold for $112 million, or a whopping $1,272 per square foot.
Do we hear $1,500 a foot? Well, not yet, but check back with us in a couple months.
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