The seller, who has owned the property since 1982 and completely renovated it, said it is now ready to sell, according to a spokesperson. Eastern Consolidated is marketing the site with an asking price of $49 million.

The retail space is occupied by retailers Burberry and Diesel at street level, and by multiple office and residential tenants above. Approximately $6 million of building-wide improvements have been made.

Eastern Consolidated's Ronald A. Solarz and Eric M. Anton, both senior managing directors, and analyst Zachary Bennett, are exclusively spearheading the marketing initiative. "Spring Street is unquestionably becoming the Madison Avenue of SoHo," says Solarz. "The street is home to a plethora of high-end international designer shops and British men's and women's designer Burberry, and Italian denim designer Diesel, the retail tenants in the property, are in that category."