Madison Capital files plans for $6M multi-floor rehab of Soho office

Richard Wagman’s Madison Capital filed a permit application for a $6 million rehabilitation of two floors of an office building at 130 Prince Street in Soho.

The plans call for a rehab of the fifth floor and the penthouse level of the 74-foot tall, five-story building.

The project is described in the filings as: filing for renovation on the fifth floor and penthouse. Work includes exterior work, slab opening, partial replacement of the roof assembly, removal and installation of interior non load bearing partitions, doors, finish work, penthouse reconfiguration. No change, to use, egress, or occupancy The initial cost as reported in the DOB filing for the work described in this permit application is $5,952,000.00.

The architect listed is B.I.G. Architecture D.P.C., also known as Bjarke Ingels Group.

The property was acquired for $206.3 million on July 23, 2019. Madison Capital purchased the single parcel from Invesco Real Estate.

The developer and other investors signed a loan agreement with lender JPMorgan Chase Bank valued at $168 million for the property back in March.

Direct link to Acris document. LINK

Direct link to DOB document. LINK