NEW YORK—Rivercrest Realty Investors has sold 138 Spring Street in Manhattan’s SoHo neighborhood to 138 Spring Owners LLC for $48.5 million. RKF arranged the sale of the 18,850-sq.-ft. mixed-use property with Jeff Fishman, president, Brian Segall, senior director, Andrew Jacobs, associate, and Jonathan Butwin, senior analyst, leading the deal for both the buyer and the seller.

The property is located on the corner of Wooster Street and contains 2,000 sq. ft. of ground-floor retail space, as well as 2,600 sq. ft. of lower-level retail space. The retail component is occupied by ILORI.

In addition to its retail space, 138 Spring Street includes 14,250 sq. ft. of commercial loft space.