New York, New York, April 23, 2013 – Infinity Real Estate LLC, a wholly owned business unit of the Infinity Group, announced today the purchase of 158 Wooster Street, a 3,932 square foot corner retail space located in Manhattan’s highly coveted SoHo neighborhood. Located at the gateway to SoHo, at the intersection of Wooster and Houston Streets, 158 Wooster exemplifies Infinity Real Estate’s unique ability to secure rare retail opportunities in Manhattan. The Property was acquired off-market, and required Infinity to close the purchase as an all-cash transaction in under 30 days. 158 Wooster Street is the most recent addition to Infinity’s portfolio of prime urban retail properties in urban U.S. markets.
158 Wooster Street is currently occupied by Bulthaup, the renowned German high-end custom kitchen-maker. The Property, which is Bulthaup’s U.S. flagship showroom and retail space, is currently under renovation and expansion. The strategically located retail space offers the global brand direct exposure to the neighborhood’s high-end residents and consumers as well as to millions of local shoppers and tourists visiting SoHo annually. SoHo is one of Manhattan’s most attractive shopping districts, providing both high vehicular and foot traffic as well as an unparalleled mix of consumer demographics.
“The acquisition of 158 Wooster Street demonstrates our company’s ability to continue acquiring and reinventing unique retail and mixed-use properties in irreplaceable urban locations” comments Steve Kassin Infinity Real Estate’s managing partner. “Over the past decade or so, our firm has established a deep track record of identifying untapped value by acquiring properties not available on the open sales market or through creative redevelopment.” Through the acquisition of highly visible and highly valuable urban retail sites, with large consumer appeal due to location density, foot-traffic, and surrounding entertainment and amenities, Infinity aims to continue serving its committed base of leading retailers as they expand their footprint in gateway urban markets throughout the United States.