If you own property in Soho then you’ll love this news. If you’re interested in getting into the market, then this news may make you want to cry.

A storefront in Soho with 4,500 square feet on the ground floor of 139 Spring Street sold recently for….$24,888 per square foot. This came to a sale of $122 million. The buyer, Invesco, has an 80% stake in the property and SL Green Realty Corp. has a 20% stake.

The deal was arranged by Ezra Saffati and Ross Mezzo, principals of Majestic Acquisitions. As Saffati explained, “Spring Street is one of the most expensive and coveted retail addresses in New York City. The value of the property has been greatly enhanced by the prestigious fashion house of Chanel.”