Staggering SoHo Price Tag

If you own a piece of SoHo, it appears that you have made it. If the recent acquisition by a pair of former investment sales brokers who started a real estate investment firm called Imperium Capital is any indication, SoHo is hopping. Daniel Glaser (30) and Sam Schneider (36) just purchased a ground floor retail space at 123 Prince Street on the corner of Wooster Street for $8 million.

The shocking part of this price tag is that the space is only 650 square feet, which translates to $12,300 per square foot. Imperium partnered with the real estate investment firm Centurion Realty on the sale.

SoHo has certainly become a powerhouse for rentals with retail space hitting $1000 per square foot. Time will tell what the duo will put in place at their new digs – but we can guess that it will have a high price tag attached to it.