{"id":33139,"date":"2022-01-20T15:00:13","date_gmt":"2022-01-20T12:00:13","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=33139"},"modified":"2022-01-21T10:37:43","modified_gmt":"2022-01-21T07:37:43","slug":"vornado-sells-480-broadway-155-spring","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/","title":{"rendered":"Vornado Divests 480 Broadway &#038; 155 Spring in SoHo"},"content":{"rendered":"<p>The properties at 480 Broadway and 155 Spring in SoHo have traded hands. Vornado has sold the pair of buildings to a joint venture between KPGFunds.com and LaSalle Global Partner Solutions on behalf of a separately managed account with the intent to reposition the office and retail assets. The sale prices were undisclosed.<\/p>\n<p>The asset at 480 Broadway (also known as 40 Crosby), will be fully renovated and repositioned as a boutique luxury office building \u2014 fitting the ultra-high-end reputation that KPG is known for \u2014 and renamed \u201cThe Crosby.\u201d Meanwhile, 155 Spring will continue to capitalize on its prime SoHo location as a top spot for high-end retailers. KPG will manage both properties.<\/p>\n<p>\u201cBy never wavering in our belief in the resilience of the greatest city in the world, we are being rewarded with the ability to acquire a gorgeous, cast-iron building and a stabilized boutique office asset, both in premiere locations at incredible pricing,\u201d said Rod Kritsberg, KPG\u2019s co-founder and chief investment officer.<\/p>\n<p>Once completed, The Crosby will be one of the most desirable <a href=\"https:\/\/www.commercialcafe.com\/office\/us\/ny\/manhattan\/\" target=\"_blank\" rel=\"noopener\">Manhattan office space<\/a> locations in the area. KPG plans to create a dedicated entrance on Crosby Street, highlighting the prime location to potential tenants. Interior improvements will focus on high-end, luxury, pre-built office space, as well as premier retail space along Broadway. The property also will feature luxury amenities, such as KPG\u2019s management app that allows tenants to operate their space directly from their device; flexible floor plates; and even continuous floor plates for tenants looking for a headquarters location.<\/p>\n<p>\u201cBespoke office is on fire, and we can\u2019t build fast enough to accommodate the demand for our Signature KPG office product,&#8221; said KPG Co-Founder and CEO, Greg Kraut. \u201cThe demand for office space post-COVID is being redefined in 2022 by landlords who provide an ultra-high-end experience for their tenants in highly desirable locations.\u201d<\/p>\n<p>Both the office floors and retail level will offer best-in-class, modernized experiences to tenants who are looking for this specialized type of luxury and function in a space.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The buildings at 480 Broadway and 155 Spring in SoHo, Manhattan have traded to KPGFunds.com from Vornado for an undisclosed price. The luxury properties will be repositioned as high-end, luxury offices with top-notch amenities and ground floor retail.<\/p>\n","protected":false},"author":63,"featured_media":33142,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,38,4014,39],"tags":[],"class_list":["post-33139","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-deals","category-featured","category-office","wpautop"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Vornado Sells 480 Broadway &amp; 155 Spring in SoHo | CommercialCafe<\/title>\n<meta name=\"description\" content=\"KPGFunds and LaSalle Global Partner Solutions picked up 480 Broadway and 155 Spring. They will be repositioned as luxury offices with retail.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vornado Divests 480 Broadway &amp; 155 Spring in SoHo\" \/>\n<meta property=\"og:description\" content=\"KPGFunds and LaSalle Global Partner Solutions picked up 480 Broadway and 155 Spring. They will be repositioned as luxury offices with retail.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/\" \/>\n<meta property=\"og:site_name\" content=\"CommercialCafe\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-20T12:00:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-21T07:37:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/480Broadway155Spring.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Patrick McGregor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Patrick McGregor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/\",\"url\":\"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/\",\"name\":\"Vornado Sells 480 Broadway & 155 Spring in SoHo | CommercialCafe\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/480Broadway155Spring.jpg\",\"datePublished\":\"2022-01-20T12:00:13+00:00\",\"dateModified\":\"2022-01-21T07:37:43+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/#\/schema\/person\/c4b8bd92d517f49f64d90afedab8ec29\"},\"description\":\"KPGFunds and LaSalle Global Partner Solutions picked up 480 Broadway and 155 Spring. They will be repositioned as luxury offices with retail.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/#primaryimage\",\"url\":\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/480Broadway155Spring.jpg\",\"contentUrl\":\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/480Broadway155Spring.jpg\",\"width\":1280,\"height\":500,\"caption\":\"480 Broadway 155 Spring Vornado\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialcafe.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Vornado Divests 480 Broadway &#038; 155 Spring in SoHo\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/#website\",\"url\":\"https:\/\/www.commercialcafe.com\/blog\/\",\"name\":\"CommercialCafe\",\"description\":\"Your Commercial Real Estate Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialcafe.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/#\/schema\/person\/c4b8bd92d517f49f64d90afedab8ec29\",\"name\":\"Patrick McGregor\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5b90aa64c1da6b7d4a441251c5a4e3fe2d972d8c339810e2eea50def586669b?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5b90aa64c1da6b7d4a441251c5a4e3fe2d972d8c339810e2eea50def586669b?s=96&d=mm&r=g\",\"caption\":\"Patrick McGregor\"},\"description\":\"Patrick McGregor is a senior writer covering the real estate industry and overall economic trends in the United States for several Yardi product publications. He also holds an MBA from Thunderbird School of Global Management. Patrick was previously a commercial real estate analyst at Yardi Matrix for five years. His work has appeared in the New York Times, Bisnow, GlobeSt, The Real Deal, Business Insider, The Denver Post, The Motley Fool, and more.\",\"sameAs\":[\"patrick.mcgregor@yardi.com\"],\"url\":\"https:\/\/www.commercialcafe.com\/blog\/author\/patrickmcgregor\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Vornado Sells 480 Broadway & 155 Spring in SoHo | CommercialCafe","description":"KPGFunds and LaSalle Global Partner Solutions picked up 480 Broadway and 155 Spring. They will be repositioned as luxury offices with retail.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/","og_locale":"en_US","og_type":"article","og_title":"Vornado Divests 480 Broadway & 155 Spring in SoHo","og_description":"KPGFunds and LaSalle Global Partner Solutions picked up 480 Broadway and 155 Spring. They will be repositioned as luxury offices with retail.","og_url":"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/","og_site_name":"CommercialCafe","article_published_time":"2022-01-20T12:00:13+00:00","article_modified_time":"2022-01-21T07:37:43+00:00","og_image":[{"width":1280,"height":500,"url":"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/480Broadway155Spring.jpg","type":"image\/jpeg"}],"author":"Patrick McGregor","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Patrick McGregor","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/","url":"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/","name":"Vornado Sells 480 Broadway & 155 Spring in SoHo | CommercialCafe","isPartOf":{"@id":"https:\/\/www.commercialcafe.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/480Broadway155Spring.jpg","datePublished":"2022-01-20T12:00:13+00:00","dateModified":"2022-01-21T07:37:43+00:00","author":{"@id":"https:\/\/www.commercialcafe.com\/blog\/#\/schema\/person\/c4b8bd92d517f49f64d90afedab8ec29"},"description":"KPGFunds and LaSalle Global Partner Solutions picked up 480 Broadway and 155 Spring. They will be repositioned as luxury offices with retail.","breadcrumb":{"@id":"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/#primaryimage","url":"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/480Broadway155Spring.jpg","contentUrl":"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/480Broadway155Spring.jpg","width":1280,"height":500,"caption":"480 Broadway 155 Spring Vornado"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialcafe.com\/blog\/vornado-sells-480-broadway-155-spring\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialcafe.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Vornado Divests 480 Broadway &#038; 155 Spring in SoHo"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialcafe.com\/blog\/#website","url":"https:\/\/www.commercialcafe.com\/blog\/","name":"CommercialCafe","description":"Your Commercial Real Estate Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialcafe.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialcafe.com\/blog\/#\/schema\/person\/c4b8bd92d517f49f64d90afedab8ec29","name":"Patrick McGregor","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialcafe.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5b90aa64c1da6b7d4a441251c5a4e3fe2d972d8c339810e2eea50def586669b?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5b90aa64c1da6b7d4a441251c5a4e3fe2d972d8c339810e2eea50def586669b?s=96&d=mm&r=g","caption":"Patrick McGregor"},"description":"Patrick McGregor is a senior writer covering the real estate industry and overall economic trends in the United States for several Yardi product publications. He also holds an MBA from Thunderbird School of Global Management. Patrick was previously a commercial real estate analyst at Yardi Matrix for five years. His work has appeared in the New York Times, Bisnow, GlobeSt, The Real Deal, Business Insider, The Denver Post, The Motley Fool, and more.","sameAs":["patrick.mcgregor@yardi.com"],"url":"https:\/\/www.commercialcafe.com\/blog\/author\/patrickmcgregor\/"}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/480Broadway155Spring.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/posts\/33139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/comments?post=33139"}],"version-history":[{"count":3,"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/posts\/33139\/revisions"}],"predecessor-version":[{"id":33143,"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/posts\/33139\/revisions\/33143"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/media\/33142"}],"wp:attachment":[{"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/media?parent=33139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/categories?post=33139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialcafe.com\/blog\/wp-json\/wp\/v2\/tags?post=33139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}