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Soho Reigns Supreme in Luxury Retail Deals | Real Estate News
Description
Soho dominates luxury retail sales, snagging six of 14 major deals nationwide in Q1 and raking in nearly $200 million—nearly a third of the country’s $700M in retail transactions. With experts calling it the “belle of the ball,” the neighborhood set records including Birkenstock’s $18.5M Spring Street buy (highest price per sq ft in NYC this year) and Alo Yoga’s $44M Wooster Street acquisition. More high-profile listings are coming: J. Safra’s $125M six-property portfolio—home to Prada and Omega—is hitting the market, while a recently renovated Mercer Street building, leased to Magda Butrym for a decade with rising rent, is priced at $11.8M. Soho’s reign shows no signs of slowing.
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