LargaVista and Related Team Up to Create Mixed-Use Building in SoHo
- Feb 17, 2014
By Veronica Grecu, Associate Editor
A former BP gas station and two other derelict buildings at the corner of Houston and Lafayette streets in Manhattan’s SoHo neighborhood, will be replaced by 300 Lafayette, a boutique office and retail building by a joint venture between LargaVista Companies and Related Cos.
“By joining forces with Related, we are introducing an exceptionally strong financial partner with proven expertise in delivering world-class properties like 300 Lafayette,” Marcello Porcelli, president of largaVista, commented in a press statement. “This project will benefit tremendously from Related’s wealth of experience in building and leasing some of the most complex projects and demanding designs in major markets throughout the globe,” he added.
The gas station site, which has been owned by LargaVista since 1976, was designated as part of the SoHo Cast Iron Historic District Extension by the New York City Landmarks Preservation Commission because of its prominent location at SoHo’s retail gateway. According to The Real Deal, LargaVista recently paid $5 million for the two adjacent buildings (a bar and a former mechanic’s garage) that will be demolished to make room for the new building.
Designed by COOKFOX Architects as a seven-story building featuring floor-to-ceiling glazing set in terra-cotta and limestone frames with generous outdoor spaces and landscaped terraces, the $200 million development project was unanimously approved by the city’s Landmarks Preservation Commission in April 2013. When completed in 2015, 300 Lafayette will offer 53,000 square feet of office space and 30,000 square feet of retail space.
Renderings courtesy of COOKFOX Architects