K Property buys NYC Soho buildings ahead of commercial renovation

K Property Group and its Boston-based partner Intercontinental Real Estate Corporation have paid $46 million for two adjoining commercial buildings in Soho. Located at 30-32 Howard Street, the buyers intend to renovate and combining the properties. The plans call for the creation of 42,000 sqf of office space, which includes pre-built suites on lower floors and a duplex office penthouse with a rooftop terrace on floors five and six. The Monsees family, which operated a library-ladder manufacturing business out of the two buildings, is the seller.

“This corner still has this feel that Soho used to have,” said Rod Kritsberg’s K Property Group. “You can just walk the streets and see how well Howard Street is doing.” K Property hired Spector Group to design floor plans for the new office spaces. The buildings will get a new facade, among other changes. The available retail space next to Rick Owens will be a 2,500-square-foot, column-free rectangle, Kritsberg said.