Centurion Realty, Imperium Capital and Crown Acquisitions have purchased 120 Prince Street for $20 million.
Located between Wooster and Canal Streets, the property is comprised of 1,750 s/f of ground floor retail space and 1,750 s/f of residential space on the second floor.
It has 70 feet of Price Street frontage and four units of ground floor retail space. “The plan is to keep it as high-end retail,” said Ralph Tawil, president of Centurion Realty.
Crown Acquisitions purchased a 50 percent stake, while Imperium Capital and Centurion Realty together own the remaining 50 percent.
This is the trio’s second Manhattan joint acquisition, following their purchase of the SoHo Apple store building, located at 103 Prince Street in November 2011 for $70.85 million.
“This is a prime Manhattan location in high demand for many retailers. Prince Street has become the premier street for luxury retailers in SoHo,” said Samuel Schneider, managing partner of Imperium Capital.
Imperium Capital most recently acquired their first Midtown property at 309 West 57th Street, a 75,000 s/f building with 102 apartments, in December 2012 for $42.5 million.
