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**Vertex Acquires Boutique Mixed-Use Property in NYC’s SoHo**
New York City-based real estate investment platform Vertex has acquired 61–63 Crosby Street, a five-story boutique mixed-use building located in the heart of SoHo. The transaction marks a significant addition to Vertex’s growing real estate portfolio. Terms of the deal were not disclosed.
The 32,400-square-foot landmark building is fully leased, with long-term stability bolstered by Patagonia’s New York City flagship store, which anchors the retail space under a lease extending through 2040. The historic property underwent a full redevelopment in 2018, enhancing both its structural and aesthetic appeal while preserving its architectural integrity.
The sale was brokered by Newmark’s Adam Spies, Adam Doneger, Josh King, Marcella Fasulo, and Meaghan Philbin. Olmstead Properties has been appointed as the property manager and exclusive leasing agent for the building.
“This is exactly the type of stable, high-quality asset we want to own for the long term,” said Patrick Pavone, co-founder of Vertex. “We built Vertex to pursue both short-term opportunities and long-term holds that produce strong, tax-efficient cash flow. 61–63 Crosby St. fits that approach — a well-located historic building in a neighborhood with real momentum. We’re glad to add it to our growing portfolio.”
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