Located at 144 Spring St., the vacant parcel should be attractive to high-end retailers looking to tap into SoHo's unique mix, which finds classic stores such as Chanel and Burberry sharing expensive frontage with ultra-hip boutiques, restaurants and clubs. Zoned for a five-story structure, the property has 20 feet of frontage on Spring Street and 80 feet on Wooster Street. It is owned by 144 Spring Street Realty LLC, which a source close to the deal says is controlled by developer Henry Hay, owner of at least two other retail spaces in SoHo.

The opportunity to participate in a retail build-to-suit in the chic confines South of Houston is "extremely rare," says Karen Bellantoni, managing director at retail specialist Robert K. Futterman & Associates, which has been awarded the agency for 144 Spring St. "SoHo continues to thrive as an international retail mecca, attracting dozens of top names," she says.

The previous broker for the property, however, has a less rosy take on its potential. Yair H. Staav, a managing director at commercial real estate firm the Lansco Corp., says he was fired in September following "a falling out" with the owner who refuses to accept changes in the market. Staav, who says he has yet to be paid for past deals he has closed for the owner, claims the lot has been languishing on the market for years because the owner refuses to compromise on price. "Whatever he gets, he wants more," Staav tells GlobeSt.com.