Shorenstein Properties Buys 148 Lafayette for $132.5 Million

The San Francisco-based firm acquired the fully leased SoHo office building from Tishman Speyer.

Updated on Oct. 27, 2026 in Commercial

A 12-story historic brick commercial building with large windows seen from a low angle in Manhattan. — Shorenstein Properties acquired the fully leased office building at 148 Lafayette Street in Manhattan's SoHo district for $132.5 million. AI Illustration. Upload story photo >

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Shorenstein Properties has purchased the 155,000-square-foot office building at 148 Lafayette Street in New York City for $132.5 million. The 12-story property in SoHo is currently 100 percent leased, with significant tenant turnover occurring since early 2025.

Why it matters

The sale demonstrates continued demand for high-quality, fully occupied commercial assets in Manhattan despite broader market volatility. The transaction highlights the building's rapid stabilization, with 70 percent of its office space leased to new tenants over the past two years.

The 12-story building spans 155,000 square feet, comprising 141,359 square feet of office space and 13,454 square feet of retail. Newer leases at the LEED Gold certified property command between $70 and $120 per square foot.

The players

Shorenstein Properties

This San Francisco-based real estate investment firm focuses on the acquisition and management of office and mixed-use properties across the United States.

Tishman Speyer

The international real estate investment and development company owns and manages a massive portfolio of commercial office spaces in major global cities.

Newmark

This commercial real estate advisory firm provides brokerage, management, and consulting services to property owners and tenants globally.

The details

The deal for the 1913-era property, which underwent renovations in 2007 and 2017, saw Shorenstein Properties outbid multiple private equity and institutional groups. Brokers from Newmark represented the parties in the transaction.

The building was constructed in 1913.
Epic purchased the building in 2012 for $126.5 million.
Tishman Speyer acquired the property in May 2025 for $105.5 million.
A period of significant new office leasing began in January 2025.

Culture Shift

The property holds LEED Gold certification, which serves as a major benchmark for energy efficiency and sustainable design in modern real estate. This transaction follows the broader shift where institutional investors increasingly prioritize high-performance green buildings to secure long-term value.

The sale of this fully leased office property suggests stable demand for SoHo commercial space, which may support nearby retail and service businesses. For current tenants, ownership changes typically do not alter existing lease agreements but may signal shifts in building management and amenities.

The takeaway

Commercial real estate investors are increasingly focusing on assets that have already been stabilized through recent, aggressive leasing campaigns. Properties with updated infrastructure and sustainable certifications continue to command significant premiums in major metropolitan hubs.