$381 a Foot in Soho Deal

Couture and wine bars may have conquered Soho, but with luck you can still find a vintage treasure. Benchmark Real Estate Group bought a run-down apartment building at the corner of Sullivan and Houston streets for a relative steal at $6.05 million, or $381 per square foot. “The building has been mismanaged,” said Jordan Vogel, a principal at Benchmark. “They haven’t renovated or touched the building in 30 years, but it should be a premier high-end rental building.” The 22-apartment building, which wasn’t widely marketed, is filled with spacious two-bedrooms. The company plans to gut-renovate the place, an effort that seems worth it given that such a location doesn’t come along often, Mr. Vo

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