Acquisition Marks Final Investment in Fund 14 and Reflects Continued Focus on High-Quality Office Properties with Strong Cash Flow and Rent Growth Potential
SAN FRANCISCO, Oct. 27, 2026 /PRNewswire/ — Shorenstein Investment Advisers (“Shorenstein” or the “Company”), an owner and operator of high-quality office, residential and mixed-use properties across the U.S., today announced the acquisition of 148 Lafayette Street (the “Property”), a 154,000-square-foot, Class A office and retail property in Manhattan’s SoHo neighborhood. The transaction marks the final investment in Shorenstein Realty Investors Fourteen, the Company’s value-added real estate fund, and reflects its continued focus on acquiring high-quality, income-producing assets in markets positioned for long-term rent growth.
Located at the corner of Lafayette and Howard Streets in Manhattan’s SoHo submarket, 148 Lafayette is a 12-story office building with an additional penthouse level. The building was recently renovated to create a modern, highly amenitized workplace environment, including 13′ slab-to-slab ceilings, oversized windows, a modern attended lobby and two terraces for tenant use. The building is also LEED Gold certified and benefits from convenient access to multiple subway lines and the surrounding neighborhood’s retail, dining and cultural amenities.
The Property is 100% leased to a diverse roster of tenants, including General Catalyst, Graphite, WeWork, Keystone Strategy and Charlotte Tilbury, with a weighted average remaining lease term of approximately nine years. Recent leasing activity has strengthened the Property’s tenant roster and demonstrated the potential for continued rent growth, with approximately 70% of the current rent roll signed since January 2025.
“148 Lafayette is a compelling addition to our portfolio, combining strong in-place cash flow, a high-quality tenant roster and meaningful opportunities for future rent expansion,” said Sean Fay, Senior Vice President, Investments Group at Shorenstein. “SoHo’s appeal to technology and venture capital firms, together with its limited supply of high-quality office space, makes it an attractive submarket for investment and future growth. We see an opportunity to build on the Property’s recent leasing momentum through active asset management.”
Supported by attractive bank financing and SoHo’s strong leasing fundamentals, Shorenstein is well positioned to capitalize on the Property’s stable cash flow and opportunities for continued rent growth. Sustained demand from creative, technology, venture capital and other businesses, coupled with limited supply of high-quality office space, reinforces Shorenstein’s strategy of targeting income-producing assets in markets where active leasing and asset management can drive long-term value creation.
Since June 2024, Shorenstein has been one of the most active office investors in the country, acquiring 14 office properties totaling approximately $2 billion. Shorenstein’s strategy has focused on acquiring high-quality assets in premier submarkets that are positioned to deliver attractive cash flow and near-term value creation. Combined, the 14 office properties are producing an average distribution yield of 8% as of September 2026.
“We are proud of the portfolio of top tier office assets we’ve assembled for Fund XIV that produce attractive cash flow yields and opportunistic total returns, a combination that is rare to find in commercial real estate,” said Colby Wick, Chief Investment Officer at Shorenstein. “With a growing pipeline of high-quality office offerings and an extremely limited amount of investment capital for the sector, we are excited about the current investment environment.”
About Shorenstein
Shorenstein is a privately-owned investment adviser that, through affiliated entities, owns and operates high-quality office, residential and mixed-use properties across the U.S., with offices in San Francisco and New York. Since 1992, Shorenstein and its affiliates have acquired $20.6 billion in assets (as of June 30, 2026). Using their integrated investment and operating capabilities, the firm seeks to take advantage of opportunities that, at the particular time in the investment cycle, offer attractive returns. Investments have included ground-up developments, asset repositioning and stabilized assets; investment structures have included asset acquisitions, mezzanine loans, preferred equity investments and structured joint ventures. More information is available at www.shorenstein.com.
Contacts
For Shorenstein:
Madeline Jones / Alexander Wolfsohn
Joele Frank, Wilkinson Brimmer Katcher
212.355.4449
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SOURCE Shorenstein Properties LLC
