K Property Group in contract to buy Soho building for $45M Buyer plan to renovate 446-448 Broadway

From left: 446 Broa爱上海龙凤419桑拿

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dway, Rod Kritsberg, Greg Kraut

Greg Kraut and Rod Kritsberg’s K Property Group is上海贵族宝贝交流区

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in contract to buy the Soho office and retail building 446-448 Broadway for $45 million, according to sources.

The 37,000-square-foot building, which sits between Grand and Howard streets, hit the market in September with a $58 million asking price. P爱上海

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roperty records indicate that the seller is a certain Wah Kwan. Marcus Millichap’s Nelson Lee and Henri Kessler are representing the seller.

K Property Group declined to comment. The buyers plan to renovate the property, which is completely vacant, sources said. Designed by architect John Butler Snook, the building was completed in 1877.

In January, K Property bought two office and retail buildin上海千花网交友

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gs around the corner, at 30-32 Howard Street, for $46 million. At the time, Kritsberg argued that this particular part of Soho has been insulat阿拉爱上海同城

爱上海龙凤419桑拿
ed from the surrounding vacancy epidemic and has seen an influx of fashion retailers.

Kritsberg, a veteran of Midtown Equities, launched K Property in 2014. Kraut, formerly of Avison Young, joined him in January 2017. Last year, K Property and East End Capital paid $31.5 million for the Sunshine Cinema building in the Lower East Side.

Tags: Commercial Real Estate
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