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New JV Acquires SoHo Site

NEW YORK CITY—The buyers—who include developer Joe Sitt's son—plan to create a mixed-use property, with multifamily units and retail.

By Rayna Katz | Updated on May 13, 2014

NEW YORK CITY—A new joint venture between Colt Equities and Ruby Ventures has acquired the leasehold of 11 Greene St. and plans to build a mixed-use development at the site.

Located on a historic, cobblestone SoHo street, the property offers 172 feet of frontage on Greene Street and over 65 feet on Canal Street. The site—which is currently being operated as a surface parking facility—consists of a 13,090 square foot lot, which allows for the development of a building featuring more than 75,000 gross buildable square feet, including sub-grade space in a seven-story envelope.

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