Manhattan, NY Heroes Model Management, a full service modeling agency, has signed a seven-year lease at 46-50 Greene St. in the SoHo neighborhood.
Starting next month, they will be occupying 3,450 s/f on the 2nd floor of the five-story elevator building located between Broome and Grand Sts. “Heroes” will be tripling the size of their showroom and are relocating from 110 Greene aka “The Soho Building,” purchased last year by SL Green.
Asking rents in the building are $75 per s/f.
Current tenants in the building include Artemide, a high end lighting company, and Gudrun Sjoden.
David Zar of Zar Property NY represented both ownership and tenant.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,