Shorenstein buys Tishman's SoHo office at 148 Lafayette for $132.5M

Shorenstein Properties closed a $132.5 million purchase of 148 Lafayette Street in SoHo from Tishman Speyer on Oct. 27, 2026, according to multiple commercial real estate trade publications. The 12-story building is fully leased, with tenants including Charlotte Tilbury, Graphite and General Catalyst.

Why it matters

The sale shows institutional capital is still paying up for small, fully leased office product in SoHo even as the broader Manhattan office market stays uneven. Tishman Speyer bought the building in 2025 for $105.5 million and sold it roughly a year later for $132.5 million, a gain of about $27 million. For developers and brokers tracking boutique office pricing outside the Midtown towers, that spread is the number to watch: a leased, well-located asset under 160,000 sq ft can still clear a competitive process and trade at a premium to its prior basis.

The numbers

Reports put the building at roughly 153,000 to 155,000 sq ft, which puts the sale at about $866 per square foot. At least one account described the bidding as competitive, with Shorenstein beating out other institutional buyers for the asset. The building sits in the New York market’s SoHo submarket, where full-building leases to retail and tech tenants have kept occupancy strong relative to larger Midtown and Downtown towers.

What’s next

Shorenstein now owns a fully leased SoHo asset with in-place rent from Charlotte Tilbury, Graphite and General Catalyst, giving it stabilized cash flow rather than a lease-up play. Watch for whether the firm holds the building for income or positions it for a future sale once the current lease terms mature, and whether the premium pricing here draws more sellers of small leased SoHo buildings into the market over the next few quarters.