JLL Capital Markets announced it has arranged the $25 million sale of 149 Spring Street, an eight-story, 19,000-square-foot mixed-use residential and retail property located in the SoHo neighborhood of Manhattan.
The ground floor features 2,254 square feet of vacant retail space, offering the opportunity to attract a world-recognized brand to one of New York City’s top retail corridors. Piombo, a sportswear brand owned by Italian apparel giant OVS, previously occupied the space.
149 Spring Street is nestled within one of the nation’s most coveted retail corridors occupied by luxury global brands such as Jacquemus, Gucci, Celine and Saint Laurent, as well as trendy boutiques and international chains. The property is within walking distance of several subway stations, providing easy access across Manhattan and the boroughs.
A JLL team including Michael Mazzara, Ethan Stanton, Brendan Maddigan, Steve Rutman, Guthrie Garvin and Hall Oster arranged the sale.
In its second quarter Manhattan retail outlook, JLL found that SoHo retail rents increased 9% from the same time last year to an average of $351 per square foot. Soho is also ranked among the top U.S. destinations for new luxury store openings with nearly 40,000 square feet of newly opened luxury retail recorded in the year since July 2024.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
