New York, NY
CBRE Secures Acquisition Financing for Residential Properties at 159 & 161 Prince Street in SoHo
February 5, 2026
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Communications Director
CBRE today announced it has secured $17.2 million in financing for the acquisition of 159 and 161 Prince Street, two prime, mixed-use properties located in the heart of SoHo. Derby Copeland Capital provided the loan for the purchase by Michael and Ed Ostad.
Shamir Seidman of CBRE arranged the financing on behalf of the borrower.
“We are proud to have played an integral role in financing the acquisition of two such incredible properties,” said Seidman. “The two buildings offered our client a one-of-a-kind opportunity to purchase the assets at an excellent value. The deal was commenced with a 30-day close, and the financing was done in just 20 days.”
Built in the 1900s, the historic, five-story properties boast 37 well-appointed rental units and two prime retail spaces on the ground floor totaling nearly 20,000 sq. ft.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, digital infrastructure services); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.