A joint venture has acquired a significant retail property near SoHo. Infinity Real Estate and KB Realty Partners have jointly purchased the retail condominium unit at 75 Kenmare Street in Manhattan's Nolita district for US$11.75 million, as exclusively reported by Commercial Observer. The transaction, which closed on 16 July, underscores Infinity's continued commitment to the SoHo retail sector and expands KB Realty's portfolio in the area through investments in retail and mixed-use properties.
The property at 75 Kenmare Street is ideally situated on the corner of Kenmare Street and Mulberry Street. The approximately 9,300 square feet of retail space comprises two commercial units, fully leased to tenants including Undefeated, Nemesis Coffee, Bondi Sushi and M Jewelers. Above the retail level is a luxury condominium with 38 residential units designed by musician Lenny Kravitz; however, this is not part of the current acquisition.
Steven Kassin, Managing Partner at Infinity Real Estate, stated that Manhattan and retail marked Infinity's beginnings almost 20 years ago, and this acquisition represents a conscious return to that core business. He added that 75 Kenmare Street is an attractive asset to further expand their presence in Manhattan retail. Infinity Real Estate was founded in 2005 and is headquartered in New York, with an additional office in Miami. The firm is active in property development, ownership, and management across the USA.
David Berg, also a Partner at Infinity Real Estate, emphasised that this is precisely the type of asset they seek: a strong existing tenant structure, reliable cash flows from the outset, and a tenant mix that aligns well with the neighbourhood. This latest acquisition follows Infinity Real Estate's purchase of 40 Bleecker Street in late 2024, where the company acquired a similarly sized retail condominium for US$13.3 million. At the time, Berg had stated that the deal at 40 Bleecker Street signalled the company's interest in "redeploying capital into New York, particularly in the retail sector, which has always been a core focus for much of the firm's history."
Jon Krasner, Managing Partner of KB Realty Partners, expressed confidence in SoHo and views 75 Kenmare Street as a natural extension of his activities there. He explained that each acquisition in this area reinforces his conviction to repeatedly return to this district. Last year, Krasner acquired 40 Thompson Street in SoHo for US$23.1 million, as well as 123 Lafayette Street for US$21.8 million. The latter property was acquired from First Atlantic Realty, the seller of 75 Kenmare, via Krasner's 7G Group. First Atlantic Realty acted as the seller, advised by Masonre, while ConnectOne Bank provided financing for Infinity and KB Realty.
