J. Safra Real Estate sells office, retail building in SoHo for $43.7M

The entity Evergreen Peak LLC paid $43.7 million to J. Safra Real Estate through the entity 138 Spring Owners LLC for the office building (O5) at 90 Wooster Street in SoHo, Manhattan.
The deal closed on January 15, 2026 and was recorded on January 22, 2026. The property has 16,123 square feet of built space according to a PincusCo analysis of city data. The sale price per built square foot is $2,710 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 seller bought the property on May 31, 2013, for $48.5 million. The signatory for J. Safra Real Estate was Carlos Bertado and Gina Sutt Malul . The signatory for the buyer was Ju Hwan Oh . The contract date was January 15, 2026.

A New York City Department of Buildings filing for a sidewalk shed identifies the “owner” as Alo Yoga, though it’s unclear if that means the occupant of the store space or the owner of the building. Alo Yoga did not respond to several requests for comment.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that Alo Yoga had purchased any other properties and has no record it sold any properties over the past 24 months, but Alo Yoga has bought several large properties in California, for example it spent $90 million to buy an office building in Beverly Hills, the Los Angeles Times reported last month.
The seller J. Safra Real Estate purchased one property in one transaction for a total of $7.4 million and sold three properties in two transactions for a total of $26.5 million over the same time period. The 16,123-square-foot property generated revenue of $2.3 million or $146 per square foot, according to the most recent income and expense figures.

The property

The office building in SoHo has 16,123 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 51 feet and is 54 feet deep with a total lot size of 2,763 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 $14.7 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received two DOB violations and $312 in ECB penalties 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 $1.6 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 992,539 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. There was one pre-foreclosure suit filed among other office buildings in the past 12 months.

The block

On this tax block, 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 Jsre Acquisitions, followed by Kub Capital 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.

The seller

The PincusCo database currently indicates that J. Safra Real Estate owned at least two commercial properties in New York City with 15,800 square feet and a city-determined market value of $6.4 million. (Market value is typically about 50% of actual value.) The portfolio has $14.3 million in debt, borrowed from J. Safra Sarasin. Within the portfolio, all identified are office properties. They are all located in Manhattan.

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