NEW YORK — K Property Group (“KPG”) says it has purchased 446 Broadway, a vacant five-story circa 1915 commercial building between Grand and Howard Street Building. The purchase price was not disclosed.
Plans for the property include a major high-end renovation. When completed, there will be approximately 26,000 square feet of office space and 5,250 square feet on the Ground floor and 5,500 square feet on the lower level. 5th-floor area. The office space will consist of luxury full-floor and smaller pre-built offices on the second, third and fourth floors; and a 5th-floor office penthouse with roof access and several large skylights.
“This is a premium office and retail location in New York’s hippest neighborhood and the trendy retail destination of Howard and Grand Streets,” points out Gregory Kraut, Managing Partner, KPG. “Everything we’ve planned for the building is in line with the new look and feel of the area, while interiors will transform into a high-end bespoke product that complements the rapidly changing landscape of lower SoHo “high-fashion brands that thrive on the street,” Kraut further stated.
Adds Rod Kritsberg, Founder and Managing Principal of KPG, “This area has a dynamic that reflects Soho in the ’90s. Its why people travel here for pictures to capture a little bit of edge and a hell of a lot of styles. We are excited to tap into that energy and further enhance our ‘lifestyle’ real estate product line.”
Currently vacant, the building has high ceilings and fantastic natural light thanks to oversized bay windows and lots of natural light. This historic location is surrounded by a host of high-fashion brands, as well as many of Manhattan’s most exclusive downtown lounges, hotels, and restaurants. Neighboring businesses include Roman and Williams Guild, Agnès B, Opening Ceremony, Nike Lab, Sleepy Jones, Stadium Goods and the 11 Howard Street Hotel. The property is also close to public transportation, including the number 6, R, and W subway lines, making it exceptionally accessible for office and retail businesses.