Nightingale offers SoHo building leased from Microsoft

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300 Lafayette Street (Google)

Technically, being Microsoft’s landlord is a chance.

Nightingale Properties, led by Elie Schwartz and Simon Singer, is offering the fully leased SoHo building to the Bill Gates-founded tech giant.

Bids for the lot, which includes 63,000 square feet of office space on 18,000 square feet of vacant retail space at 300 Lafayette Street, are expected to be $200 million — or about $2,444 per square foot, according to a report by website Green Street. A Newmark team led by Brett Siegel and Evan Layne handles the sale.

Microsoft signed a long-term lease for the building’s office space in 2019 — one that has 13 years left, according to its website. Designed by CookFox Architects, the seven-story office tower on the south side of Houston Street features floor-to-ceiling windows on each floor and more than 10,000 square feet of outdoor patios and green space.

The vacant retail space is 8,500 square feet at street level with a 40-foot ceiling and an additional 10,000 square feet below ground. Access to the Broadway-Lafayette Street subway station is right outside the door.

Marketing for the column-free building emphasizes its green attributes such as energy-efficient lighting, windows and boiler. The building also features 11,000 square feet of landscaped terraces on floors three through six, a collaborative workspace on the second floor, and an event space on the sixth floor.

According to a New York Post report, Nightingale partnered with Wafra Capital Partners to buy the lease interest for $125 million in 2017 while the building was under construction. Brokered by Newmark for Related Companies and LargaVista, this deal was completed in 2019.

The building was originally developed by Related Companies and LargaVista under a long-term leasehold agreement on the site of the former BP petrol station owned by LargaVista. This country has fixed payments planned for the next 47 years, by which time much (if not all) of today’s technology will surely be obsolete.

[Green Street] — Vince DiMiceli

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