Tishman Speyer Sells Soho Office Building for $132.5M
The 12-story, fully leased building at 148 Lafayette Street changed hands to Shorenstein Properties in a recorded sale.
Updated on Nov. 3, 2026 in Commercial
Tishman Speyer closed on the sale of 148 Lafayette Street in Soho to Shorenstein Properties for $132.5 million. The price is well above the $105.5 million Tishman paid for the property about a year and a half earlier.
Why it matters
The sale shows continued buyer interest in fully leased office space in Manhattan's Soho neighborhood, with the building selling for roughly $855 per square foot. For New York City, it adds a data point to a commercial real estate market where property values and transaction activity are closely watched.
The figures come from New York City property records of transactions entered between Oct. 30 and Nov. 2, 2026, which list the 155,000-square-foot building at $132.5 million. The filing does not explain the buyer's plans for the property or the terms of its existing leases.
The players
Tishman Speyer
Tishman Speyer is a major New York real estate development and investment firm that owns and manages large commercial properties across the United States.
Shorenstein Properties
Shorenstein Properties is a San Francisco-based real estate investment firm known for owning and operating office buildings in major U.S. markets.
The details
Shorenstein Properties bought the 12-story office building at 148 Lafayette Street from Tishman Speyer, which had purchased it a year and a half ago. The building is fully leased, and the sale was recorded alongside 199 other transactions totaling $470 million in the same period.
Timeline
About a year and a half before the sale, Tishman Speyer bought the building for $105.5 million.
The sale was recorded in city records covering Oct. 30 through Nov. 2, 2026.
Market Landscape
The Soho sale is recorded in New York City's property transaction records, the same public ledger used to track how Manhattan office and residential values shift over time. Measured against the earlier $105.5 million purchase, the deal reflects how individual office assets are repriced within that broader record.
For New York City residents and businesses, sales like this reflect the value of commercial space that employers and retailers lease. Changes in office values can also shape the mix of storefronts and workplaces in neighborhoods such as Soho.
The takeaway
Commercial property prices reflect both the building itself and the leases attached to it, so fully leased buildings can command premium prices. Readers tracking the market can compare recorded sale prices against earlier purchases to see how values have changed.
Further reading
For more on the local office market, see Commercial real estate coverage.
Source note: This article includes information reported by The Real Deal New York.
