Tishman Speyer finalizes acquisition of <br>148 Lafayette St. for $105.5 million from EPIC

Manhattan, NY Tishman Speyer has acquired 148 Lafayette St., a fully-leased, 12-story boutique office building in SoHo.

Tishman Speyer purchased 148 Lafayette from EPIC for $105.5 million. Financed in part by a $68.3 million loan from Blackstone, 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 s/f, class A building is leased to a 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-ft. 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 Sts., 148 Lafayette is within walking distance of seven subway lines. The property is also situated in proximity to SoHo’s range of residences, as well as shopping, dining, educational and cultural venues.

Tishman Speyer’s New York City office portfolio spans 18 million s/f of workspaces, including Rockefeller Center, the Midtown campus, and The Spiral, the 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 s/f.

A Newmark team led by Adam Spies and Avery Silverstein led the transaction on behalf of the seller.