Manhattan, NY The Tri-State Investment Sales group for Avison Young completed the sale of 198 Prince St., a 5,000 s/f, four-unit boutique residential property in the SoHo neighborhood. 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 St. property is situated in one of New York City’s most desirable residential 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.”
SoHo is recognized for its amenities, cultural institutions and is considered a haven for the city’s many artists and students. The neighborhood is close mass transit choices, including the A, C and E trains at the Spring St. 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 access to the Holland Tunnel.