KPG Funds Acquires Ground Lease of Greenwich Village Salvation Army Building
The Salvation Army’s 57,478-square-foot building located in Greenwich Village at 132 West 14th Street is slated for a repositioning that will deliver Class A office space. Soho-based KPG Funds has purchased the 99-year ground lease from the charitable organization for $30 million, or about $522 per square foot. The transaction will benefit the Salvation Army by providing a sustainable revenue stream to support the organizations programs and services.