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Invesco Acquires 130 Prince St. for $140M

NEW YORK CITY-The purchase comes after Waterman Interests LLC bought the SoHo site in 2007 and repositioned the building's office and retail space to class 'A' status.

By Jacqueline Hlavenka | Updated on June 04, 2012

NEW YORK CITY-It’s a deal as pretty as a picture: the home of MAC Cosmetics’ corporate offices has sold for almost $30 million higher than its original acquisition price. After giving 130 Prince St. a makeover in 2007, Waterman Interests LLC has disposed of the 88,000-square-foot mixed-use property to Invesco for $140.5 million.

Waterman, along with institutional investors advised by JP Morgan Asset Management, purchased the property four years ago for $112 million and implemented a capital improvement program to capitalize on the building’s full value. In addition to MAC’s office space, the property is 96% leased to ground-floor retail such as Cole Haan, Lacoste, True Religion Jeans, Barbour Inc. and Monika Chang.

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