PRESS RELEASE: Avison Young Arranges Sale of 198 Prince Street in SoHo

Boutique downtown mixed-use building sells for $4.5 million

New York, NY – The Tri-State Investment Sales group for Avison Young today announced the sale of 198 Prince Street, a 5,000-square-foot, five-unit boutique mixed-use property in the SoHo neighborhood of Manhattan. The property, which had been under long-term ownership by an estate, sold for $4.5 million. 

An Avison Young team led by Senior Director Brandon Polakoff represented the seller in the negotiations. 

“The 198 Prince Street property is situated in one of New York City’s most desirable neighborhoods,” said Polakoff. “We quickly identified the ideal buyer for this value-add asset on behalf of our client and Avison Young was able to strike an off-market deal that was beneficial for both sides.”

Considered one of New York City’s most well-known and eclectic neighborhoods, SoHo is recognized for its upscale amenities, cultural institutions and is considered a haven for the city’s many artists and students. The neighborhood is within close proximity to several mass transit choices, including the A, C and E trains at the Spring Street station in addition to the 1, 2, 3, N and R trains as well as uptown, downtown and cross-town bus options. The property also provides easy access to the Holland Tunnel.