**Birkenstock Flagship Store in SoHo Sells for $18.5 Million in All-Cash Deal**
Adirondack Capital Partners (ACP) has announced the successful $18.5 million sale of 120 Spring Street, a prominent high-street retail property located in the SoHo Cast Iron Historic District of New York City.
Fully occupied by Birkenstock as a flagship retail location, the two-story building was acquired in an all-cash transaction by an ultra-high-net-worth private investor from Japan. The seller in the transaction was 120 Spring Realty Associates LLC.
Michael Hunter Coghill, managing partner at ACP, represented the seller. He noted that the deal illustrates growing international interest in premium U.S. retail assets, driven by long-term market stability, favorable interest rate dynamics, and currency hedging opportunities.
“120 Spring Street is a quintessential SoHo trophy asset, defined by its irreplaceable location, architectural character and a world-class credit tenant with a long-term commitment to the space,” said Coghill. “This sale highlights the continued demand from international investors, particularly from the Pacific Rim region, for prime New York City retail properties.”
The all-cash purchase underscores the strong appetite among global investors for iconic urban retail real estate, particularly in landmark neighborhoods like SoHo.
