Entity-level transfer valued at $16.5M at The Webster’s 29 Greene Street in Soho

The entity Flamingo Investment Properties Inc. paid Webster Holdings LLC $16.5 million for an interest in 29 Greene Street in Soho. The deal closed on March 11, 2020, and was recorded on March 26, 2020. The transaction consists of a stake in 1 parcel, including the tax class two-story or store and office (K2). The property is 9,819 square feet. The parcel(s) have total development potential of 9,958 square feet.
The average sale price per square foot is $1,657.
The Webster was founded by Laure Hériard Dubreuil, who remains its creative director.

This is a transfer of an ownership stake in the ownership entity. It’s unclear who sold and who bought. The last time the property sold was January 31, 2013, when The Webster bought it for $6,100,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on November 9, 2017.
Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $945,260.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link