UK sport conglomerate Frasers Group pays $17.9M to The Webster for retail in SoHo

The giant British sporting holding company, Frasers Group, which owns the Everlast boxing brand, and many other brands, through the entity SDI 29 Greene LLC paid $17.9 million to The Webster through the entity 29 Greene Street LLC for the retail building (K2) at 29 Greene Street in SoHo, Manhattan. The expected use is owner-occupied.

This is a continuation of the theme of brands buying locations in New York City over the past year, including in SoHo alone Alo Yoga, Aflalo LLC, Ikea, and Ralph Lauren.
The deal closed on February 9, 2026 and was recorded on February 24, 2026. The property has 9,819 square feet of built space and 139 square feet of additional air rights for a total buildable of 9,955 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,822 and the price per buildable square foot is $1,798 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 January 31, 2013, for $6.1 million. The signatory for The Webster was Michiel Maes . The signatory for Frasers Group  was Neil Morton . The contract date was October 8, 2025.

Frasers Group changed its name from Sports Direct International in 2019.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Frasers Group had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller The Webster had not purchased any other properties and had not sold any properties over the same time period. The 9,819-square-foot property generated revenue of $879,355 or $90 per square foot, according to the most recent income and expense figures.

The property

The retail building in SoHo has 9,819 square feet of built space and 139 square feet of additional air rights for a total buildable of 9,955 square feet according to a PincusCo analysis of city data. The parcel has frontage of 20 feet and is 100 feet deep with a total lot size of 1,991 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 $7.1 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 one DOB violation in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on November 9, 2017. 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 $1.7 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 994,182 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.

The block

On this tax block, PincusCo has identified the owners of three of the nine commercial properties representing 103,709 square feet of the 188,434 square feet. The largest owner is Arch Companies, followed by Benzion Reifer and then Laurent Malecaze.
There are no active new building construction projects on this tax block.

The majority, or 50 percent of the 188,434 square feet of built space are elevator buildings, with industrial buildings next occupying 20 percent of the space.

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