148 Lafayette Street entrance. Photo: Tishman Speyer property gallery; cropped.
Shorenstein has acquired the fully leased office and retail building at 148 Lafayette Street in Manhattan’s SoHo neighborhood from Tishman Speyer for $132.5 million, according to a transaction listing published by Traded.
The Traded listing, updated October 28, records an October 27 closing. Shorenstein separately confirmed the acquisition in an October 27 company announcement, describing it as the final investment in Shorenstein Realty Investors Fourteen, its value-added real estate fund.
Buyer, seller and deal team
Traded identifies Brandon Shorenstein of Shorenstein Properties on the buyer side and Rob Speyer of Tishman Speyer on the seller side. Its transaction summary names six Newmark brokers: Adam Spies, Douglas Harmon, Adam Doneger, Marcella Fasulo, Avery Silverstein and Joshua King.
The listing says Shorenstein outbid several institutional investors for the property. That account is attributed to Traded; the buyer’s announcement focuses instead on the building’s existing cash flow, tenant roster and potential for future rent growth.
The purchase price is reported by Traded. Shorenstein’s announcement confirms the acquisition but does not disclose the price.
Bank financing, with terms undisclosed
Shorenstein says bank financing supported the acquisition. Its release does not identify the lender, loan amount, interest rate or maturity, and the Traded transaction summary does not supply those details either.
The financing disclosure confirms a bank-funded component to the purchase, but leaves the structure of the acquisition debt unclear. Neither source provides enough information to calculate leverage or annual debt service for this transaction.
A fully leased building with long remaining leases
The buyer describes 148 Lafayette as a 12-story Class A office and retail building with an additional penthouse level, at the corner of Lafayette and Howard streets. It says the property is 100% leased, with a weighted average remaining lease term of approximately nine years.
Named tenants include General Catalyst, Graphite, WeWork, Keystone Strategy and Charlotte Tilbury. Approximately 70% of the current rent roll has been signed since January 2025, according to Shorenstein. That is a measure of the rent roll, not a statement that 70% of the building was vacant before then.
The company’s description includes an attended lobby, oversized windows, two tenant terraces and LEED Gold certification. Shorenstein says its investment case centers on existing income and opportunities to increase rents through leasing and active management. Those are the buyer’s expectations, not guaranteed returns from the property.
For deal watchers, the confirmed ownership change and the identified brokerage team provide the clearest transaction facts. The lender’s identity and acquisition-loan terms remain undisclosed in the buyer’s announcement and the Traded summary.
JBizNews Desk | New York
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