SoHo Building Sells $2M Under Its 2012 Price After 13 Years
The seller, an LLC care of JSRE Acquisitions, held the five-story building about 13.8 years. The buyer and seller are at different addresses.
A SoHo building at 71 Greene Street sold for $30,600,000 on Sept. 1, $2,000,000 less than the $32,600,000 paid for it in 2012, per ACRIS. The seller held the five-story building about 13.8 years. The buyer is an LLC care of Acadia Realty Trust.
Why it matters
A 6.1% nominal loss after nearly 14 years is the kind of exit that rarely shows up in headline SoHo numbers, because owners tend to hold rather than sell below cost. The deed (document 2026090200256002) covers the entire lot, block 486 lot 23, and lists the property as an apartment building. We checked whether this was a recapitalization between affiliates. The two LLC names are near-identical, but the seller lists JSRE Acquisitions LLC at 550 Fifth Avenue as its care-of party and the buyer lists Acadia Realty Trust at a Rye, New York address. The recorded deed shows no transfer-tax number, and we have not seen what, if anything, the seller spent on the building since 2012. This is a read of public records; neither side has commented.
The numbers
The 2026 deed was recorded Sept. 8 at $30,600,000. The 2012 deed was recorded Nov. 21, 2012 at $32,600,000. City PLUTO data lists a 16,477 sf building on a 3,750 sf lot, built in 1877, so the price works out to about $1,857 per sf now against about $1,979 per sf then. A Nov. 2013 deed recorded at $0 moved the lot between sibling LLCs, which is why the 2012 buyer’s name differs from the 2026 seller’s.
What’s next
Watch for a mortgage recorded against 71-73 Greene Owner LLC, which would show how Acadia’s side financed the purchase. The sale price against 2012 is also a data point for other SoHo owners holding since the early 2010s. More deals are on the New York desk.
On the record
What we checked ourselves, and where you can check it too.
- Public recordACRIS deed 2026090200256002 (dated Sept. 1, 2026, recorded Sept. 8) shows $30,600,000 for 71 Greene Street, block 486 lot 23, the entire lot. The last prior arm's-length deed we found, 2012111600556001 (dated Nov. 15, 2012), shows $32,600,000. That is $2,000,000, or 6.1%, below the 2012 price after about 13.8 years.View the record on a836-acris.nyc.gov
- Public recordThe parties are not related by address. The seller, 71-73 Greene Street Owner, LLC, lists c/o JSRE Acquisitions LLC at 550 Fifth Avenue, New York. The buyer, 71-73 Greene Owner LLC, lists c/o Acadia Realty Trust at 411 Theodore Fremd Avenue, Rye, New York. Their names are near-identical, but the care-of parties differ.View the record on a836-acris.nyc.gov
- Public recordOn PLUTO's 16,477 sf of building area, the 2026 price is about $1,857 per sf against about $1,979 per sf in 2012. The 2012 buyer was 69-73 Greene Street Owner, LLC; a Nov. 2013 deed recorded Jan. 2014 at $0 moved the lot to 71-73 Greene Street Owner, LLC, the 2026 seller.View the record on a836-acris.nyc.gov
Sources
- NYC Department of Finance, ACRIS Document DetailDeed dated Sept. 1, 2026, recorded Sept. 8, $30,600,000, block 486 lot 23
- NYC Department of Finance, ACRIS Document DetailDeed dated Nov. 15, 2012, recorded Nov. 21, $32,600,000
- NYC Department of Finance, ACRIS Document DetailDeed dated Nov. 20, 2013, recorded Jan. 15, 2014, consideration $0
- NYC Open Data, PLUTO16,477 sf building, 3,750 sf lot, built 1877, 5 stories, 5 units