Tishman Speyer is selling a Soho office building that it bought about a year ago for a 30 percent markup — the latest sign of New York’s surging office market.
The Rob Speyer-led company is in contract to sell 148 Lafayette Street to Shorenstein Properties for approximately $135 million, The Real Deal has learned. That’s a healthy bump from the $105.5 million Tishman paid when it bought the building about 16 months ago.
In the short amount of time it’s owned the building, Tishman expanded its largest tenant (venture capital firm General Catalyst) and quickly re-leased two available floors to the AI firm Graphite. In the meantime, Manhattan’s office leasing market is on track to record its best year since 2000, according to Colliers.
Representatives for Tishman Speyer and Shorenstein declined to comment.
A Newmark team led by Adam Spies and Avery Silverstein negotiated the deal.
Standing at the corner of Howard and Lafayette streets, the 12-story, 155,000-square-foot building is 100 percent leased, according to marketing materials. The contract price works out to about $870 per square foot.
In addition to General Catalyst and Graphite, tenants include WeWork, the cosmetics company Charlotte Tilbury, digital picture frame seller Aura Frames and the consulting firm Keystone Strategy.
