AV Management acquires 73-75 Sullivan Street in SoHo, Manhattan for $43M

NEW YORK, May 21, 2026 /PRNewswire/ -- AV Management, a private New York based investment firm, announced today that it has completed the acquisition of 73-75 Sullivan Street from a long-time SoHo developer for $43,333,000.

73-75 Sullivan Street was completed in 2016 as a ground-up construction project and is located within Manhattan's vibrant SoHo submarket. Featuring expansive layouts, modern construction vintage, and long-term commercial tenancy, the property offers institutional quality yet boutique real estate.

Cushman & Wakefield's Dylan Walsh and Nico Nicolaou represented the seller in the $43.4M deal. Citizens Private Bank provided $21.6M in competitive acquisition financing under significant time constraints.

Purchased at historically high-yields for Class A+ Manhattan property, the acquisition represents a world-class opportunity to generate permanent income with embedded flexibility in business plan execution.

"This special situation transaction represents the robust opportunity set to purchase investment grade assets at historically high yields by taking advantage of early cycle market dynamics," said Principal Ahcene Ouldsaada. "73-75 Sullivan Street capitalizes on the dislocation caused by the 2022's historically unprecedented hike in domestic base rates. The asset was acquired at an opportunistic basis and will be held long-term as a permanent income vehicle with an option for attractive liquidity as markets normalize."

"The durability of A+ location property in Northeast submarkets will continue to outperform tertiary and Sunbelt markets. We will see an acceleration of the already occurring shift from speculative, assumption driven value-add transactions to opportunistic, special situation investments of Class A+ assets in Northeast markets. Strong fundamentals bought correctly during early cycle dynamics provides investors with significant alpha."

About AV Management

AV Management ("AVM") is a New York based sponsor that specializes in property investing. AVM is led by alumni of Tishman Speyer and leading institutional investors who have collectively executed ~$5Bn of acquisitions, development, and subsequent asset management. Leveraging deep expertise in driving value for complex, institutional-grade assets, AVM excel at identifying proprietary acquisitions and executing successful operations. Additional information can be found at avmgmt.co.

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SOURCE AV Management