Aflalo LLC pays $31.8M to Makkos Equities for two mixed-use properties in SoHo

Fashion designer Aflalo LLC through the entity Greene Propco LLC paid $31.8 million to Makkos Equities through the entity 67-65 Greene Street LLC for the four-unit mixed-use building (S4) at 67 Greene Street and three-unit mixed-use building (S9) at 65 Greene Street in SoHo, Manhattan. The expected use is owner-occupied.

This is the second recent SoHo purchase by a user. Alo Yoga purchased 138 Spring Street in January for $43.7 million.
The deal closed on December 19, 2025 and was recorded on February 6, 2026. The two properties have 21,321 square feet of built space and 4,310 square feet of additional air rights for a total buildable of 25,625 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,489 and the price per buildable square foot is $1,239 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Makkos Equities was George Makkos . The signatory for Aflalo LLC was Yael Aflalo . The contract date was September 22, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Aflalo LLC had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Makkos Equities had not purchased any other properties and had not sold any properties over the same time period. Out of the two properties, one with a total of 21,321 square feet of built space generated revenue of $512,925 per year.

The property

The mixed-use building with 4 residential units in SoHo has 21,321 square feet of built space and 4,310 square feet of additional air rights for a total buildable of 25,625 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 104 feet deep with a total lot size of 2,625 square feet. The zoning is M1-5/R7X which allows for up to 5 times floor area ratio (FAR) for manufacturing and up to 5 times FAR for residential with inclusionary housing. The property is in the SoHo-Cast Iron Historic District. The city-designated market value for the property in 2022 is $10.9 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have not received any significant violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In SoHo, The bulk, or 46 percent of the 9.5 million square feet of commercial built space are office buildings, with mixed-use buildings next occupying 14 percent of the space. In sales, SoHo has the 7th highest sale turnover among other neighborhoods in the city with $1.7 billion in sales volume in the last two years. For development, SoHo has had very little major development activity relative to other neighborhoods.It had 979,212 square feet of commercial and multi-family construction under development in the last two years, which represents 10 percent of the neighborhood’s built space.

The block

On the tax block of 67 Greene Street, PincusCo has identified the owners of 10 of the 16 commercial properties representing 256,299 square feet of the 328,194 square feet. The largest owner is Kub Capital, followed by Jsre Acquisitions and then Jeff Greene.
There are no active new building construction projects on this tax block.

The majority, or 46 percent of the 328,194 square feet of built space are office buildings, with elevator buildings next occupying 33 percent of the space.

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