Madison Capital files plans for $8.1M multi-floor rehab of office building in Soho

Madison Capital, on July 31, filed a permit application for a $8.1 million rehabilitation of the cellar and several floor of an office building at 130 Prince Street in Soho.

The plans call for a rehab of the cellar and floor one through five of the 74-foot tall, five-story, building.

The project is described in the filings as: filing for interior renovation on floors cellar, first through fifth. Work includes installation of interior non-load-bearing partitions, doors, finish work, new convenience stair. 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 $8,080,000.

The architect listed is B.I.G. Architecture D.P.C.

The property was acquired for $206.3 million on July 23, 2019. Madison Capital purchased the single parcel from Invesco Real Estate. At the time of the purchase, reports stated the building was acquired by a group of investors led by Madison. However, the other investors were not named.

Invesco paid $140.5 million for the property in 2012.

Madison Capital has filed four renovation plans at the property so far this year. The plans described in this post are by far the largest.

Direct link to Acris document.LINK

Direct link to DOB document.LINK