A joint venture this week announced the recent sale of an 86,000-square-foot, low-rise office and retail building in New York City for $112 million.
KBS Realty Advisors, in partnership with the Kaufman Organization, sold 130 Prince St. to 130 Prince Street Associates LLC.
The property’s square footage includes 12,500 square feet of ground-floor retail space and 65,000 square feet of office space.
KBS and Kaufman acquired 130 Prince St. in September 2005 for an undisclosed price. During their ownership, leases were secured that included a 2,000-square-foot store to True Religion Jeans and a long-term, 65,000-square-foot office lease with Aramis Inc., a subsidiary of Estee Lauder.
At the time of sale, the property was fully occupied.