Paceline Equity Partners acquires Soho retail co-op for $23.9M from SL Green Realty

The Texas-based real estate firm Paceline Equity Partners through the entity Soho Operating Company, LLC paid $23.9 million through a UCC foreclosure auction acquiring control from SL Green Realty’s entity 106 Spring Street Owner, LLC of the retail co-op at 106 Spring Street in Soho, Manhattan.
The deal closed on March 2, 2021 and was recorded on May 3, 2021.

Paceline bought the property through a UCC foreclosure, as Commercial Observer reported in March 2020. The $23 million price was a 78 percent decline from what60 Guilders paid in 2016, $105.4 million. 60 Guilders sold it to SL Green for $79.4 million in 2019. PincusCo reported in April that Paceline was suing SL Green for $4 million in guarantees related to the transaction.

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