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by Rosen's RFR Holding is selling a fully occupied retail property in Soho, two years after investing in luxury retail. A Japanese conglomerate has acquired 102 Greene Street from RFR for $46 million, or about $4,020 per square foot, with a 4.2% capitalization rate. The four-story building, dating back to 1881, was transformed by Cartier into a flagship boutique featuring a gallery, lounge, studios, and rooftop garden.

    RFR purchased the property in 2020 for $31.5 million from TA Realty, months after Cartier signed its lease. Soho has been a retail hotspot in Manhattan's recovery from the pandemic, with several deals recently closing in the area. In contrast to other neighborhoods, Fifth Avenue is also experiencing a surge in activity.

    The sale comes as RFR faces a major legal battle over the Chrysler Building, where a judge recently ruled that Cooper Union can collect rent from tenants, effectively stripping RFR of control. The company is also involved in a dispute with Cooper Union over terminating its lease at the iconic property.