NEW YORK—A joint venture comprised of Centurion Realty, Imperium Capital and Crown Acquisitions has purchased 120 Prince Street for $20 million. Located between Wooster and Canal Street, 120 Prince Street totals 1,750 sq. ft. of ground-floor retail space and 1,750 sq. ft. of residential space on its second floor.
Crown Acquisitions purchased a 50 percent stake in the property, while Imperium Capital and Centurion Realty together own the remaining 50 percent. This is the joint venture’s second Manhattan-based acquisition.
The property consists of 70 feet of frontage on Prince Street and four units of ground floor retail space.
“We continue to be bullish on the SoHo retail market and will look for future investment opportunities,” said Daniel Glaser, managing partner of Imperium Capital. “The SoHo neighborhood offers significant commercial growth potential and will certainly continue to be a top destination for major retailers.”