173 Spring Street

Glass Stone Properties LLC acquired the mixed-use building at 173 Spring Street in SoHo, Manhattan, from Extell Development, Bluestone Group, and Princeton Real Estate Partners for $21 million. The property was previously owned by Robert Gans before he lost it in bankruptcy. The transaction was part of a larger portfolio sale, which also involved developer Cheskel Schwimmer purchasing another property from the same sellers. The buyer’s identity remains anonymous, but the deal was facilitated by Colliers and Compass. The property, located in the Sullivan-Thompson Historic District, has 13,816 square feet of built space and additional air rights. It is zoned for residential use and has a city-designated market value of $3.2 million. There are no ongoing construction projects on the property.