Boutique Office Tower Marks Tishman Speyer’s First New York City Office Purchase Since 2019 and First in the U.S. Since 2021
Tishman Speyer today announced it has acquired 148 Lafayette Street, a fully-leased, 12-story boutique office building in Manhattan’s SoHo neighborhood.
Tishman Speyer purchased 148 Lafayette from EPIC for $105.5 million. Financed in part by a $68.3 million loan from Blackstone Real Estate Debt Strategies, this represents Tishman Speyer’s first office acquisition in New York City since 2019 and its first in the United States since 2021.
The 153,000-square-foot, Class A building is currently leased to a diverse range of office customers across the finance, fashion, beauty and e-commerce industries, including venture capital firm General Catalyst and beauty and cosmetics firm Charlotte Tilbury. 148 Lafayette’s street-level retail is fully occupied by boxing gym Five Points Academy and clothing store 260 Sample.
“148 Lafayette presented us with a compelling opportunity to capitalize on the strengthening New York City office leasing environment by acquiring a top-quality, boutique asset in one of the city’s most dynamic neighborhoods,” said Tishman Speyer Managing Director Albert Schmool. “This acquisition represents the perfect addition to an office portfolio defined by highly-amenitized, best-in-class environments in the world’s most sought-after locations.”
Built in 1913 and renovated in 2017, 148 Lafayette features light-filled workspaces with efficient floorplates, 12-foot ceiling heights, two outdoor terraces and great city views. Tishman Speyer plans to undertake targeted enhancements to the lobby and elevators.
Located on the corner of Lafayette and Howard Streets, 148 Lafayette is within short walking distance of seven subway lines. The property is also situated in immediate proximity to SoHo’s wide range of luxury residences, as well as top-tier shopping, dining, educational and cultural venues.
Tishman Speyer’s New York City office portfolio spans approximately 18 million square feet of premier workspaces, including Rockefeller Center, the legendary Midtown campus, and The Spiral, the iconic new 66-story tower on Midtown’s West Side. The firm’s coworking platform, Studio by Tishman Speyer, has 11 locations throughout the city totaling over 667,000 square feet.
A Newmark team led by Adam Spies and Avery Silverstein led the transaction on behalf of the seller.
About Tishman Speyer (tishmanspeyer.com)
Tishman Speyer is a leading owner, developer, operator and investment manager of first-class real estate in approximately 40 key markets across the United States, Europe, Asia and Latin America. Our portfolio spans market rate and affordable residential communities, premier office properties and retail spaces, industrial and data center facilities, and mixed-use campuses. We create state-of-the-art life science centers through our Breakthrough Properties joint venture, and foster innovation through our strategic proptech investments. With global vision, on-the-ground expertise and a personalized approach, we foster innovation, quickly adapt to global and local trends and proactively anticipate our customers’ evolving needs. By focusing on health and wellness, enlightened placemaking and customer-focused initiatives such as our tenant amenities platform, ZO, and our flexible space and co-working brand, Studio, we tend not just to our physical buildings, but to the people who inhabit them on a daily basis. Since our inception in 1978, Tishman Speyer has acquired, developed, and operated 573 properties, totaling 232 million square feet, with a combined value of $131 billion (U.S.). Our current portfolio includes such iconic assets as Rockefeller Center in New York City, The Springs in Shanghai, TaunusTurm in Frankfurt and the Mission Rock neighborhood currently being realized in San Francisco.
