Eataly’s SoHo Home Hits Investment Sales Market

Brookfield Properties is hoping to fetch $40 million for the sale offering of the two-story, approximately 30,000-square-foot retail and showroom condominium unit located at the base of 200 Lafayette Street. Acquired by the Canada-based company in 2018 for roughly $51.328 million as part of its acquisition of General Growth Properties (GGP), the approximately 18,353 square feet on the ground and cellar levels is occupied by Italian-themed market and restaurant Eataly, and the over 11,000 square feet on the 2nd floor is occupied by fashion brand Moncler. According to reported details of the sale offering memo, the leases run through 2038 and 2033 respectively, “with the property giving off roughly $47 million in base rent revenue through the remainder of those deals.” The 130,000-square-foot SoHo property at the corner of Broome Street housed a JCPenney department store for a short period of time, the retailer securing a 15-year lease in 2012 for the entire building with plans for the construction of a roof deck. News reports at the time indicated that the deal, which included three 5-year extension options, was worth about $8 million a year. However, heightening financial challenges prompted an ongoing downsizing of space shortly after. Initially managing to get out of its commitment for the retail and showroom space on the ground, cellar and 2nd floor levels, JCPenney subsequently put the 16,780-square-foot top floor space up for lease in 2014, attracting yogurt brand Chobani which leased the top 7th floor and the 6th floor, a total of 33,560 square feet in early 2015; and in 2020, as part of the Chapter 11 bankruptcy process, JCPenney planned to exit its remaining lease commitment of the office space at the building.

Source:    https://therealdeal.com/new-york/2025/04/16/brookfield-looks-to-sell-200-lafayette-street-retail/