Deals & development · 11/09/2026, 12:41 PM
Campari Family Office Sells SoHo Buildings at 484-486 Broadway for $33.5M
Lagfin, the Luxembourg family office behind Campari Group, sold its mixed-use buildings at 484-486 Broadway in SoHo for $33.5 million, city records show. The buyer is an entity linked to a private Asian buyer. Lagfin paid $23.5 million in 2022, converted some office space to apartments and signed menswear brand Buck Mason as the ground-floor tenant.
Reported by Commercial ObserverRead the original ↗
What happened
Lagfin, the Luxembourg-based family office behind spirits company Campari Group, has sold its retail and residential property at 484-486 Broadway in Manhattan's SoHo neighborhood for $33.5 million. Commercial Observer reported the sale on 11/09/2026, citing city records filed the previous Friday.
The buyer is 484-486 Broadway Z, a New York entity. A source familiar with the deal told Commercial Observer it is linked to a private Asian buyer. Paul Xuereb of PX Enterprises, a manager for Lagfin's U.S. real estate acquisitions, signed the deed for the seller. Michael Mulia, a partner at law firm Belkin Burden Goldman, signed for the buyer. A CBRE team led by Dan Kaplan represented Lagfin. The buyer was represented in-house.
The property is a pair of mid-rise buildings near the corner of Broadway and Broome Street, totaling more than 30,000 square feet. Lagfin's entity bought them from Vornado Realty Trust in 2022 for $23.5 million. That is $10 million less than this sale price. After that purchase, 3,200 square feet of office space was converted into rental apartments, according to property records. Menswear brand Buck Mason opened on the ground floor in 2024.
Buck Mason's 3,250-square-foot lease covers the ground level of both buildings. StreetEasy shows no rental vacancies on the upper floors, according to the report.
Key facts
- Address
- 484-486 Broadway, SoHo, Manhattan, near Broadway and Broome Street
- Sale price
- $33.5 million
- Seller
- Lagfin, family office behind Campari Group
- Buyer
- 484-486 Broadway Z, a New York entity linked to a private Asian buyer, per a source
- Prior sale
- 2022, $23.5 million, from Vornado Realty Trust
- Size
- More than 30,000 square feet across two buildings
- Residential conversion
- 3,200 square feet of office space converted to rental apartments after the 2022 purchase
- Retail tenant
- Buck Mason, 3,250 square feet on the ground floor since 2024
What it means
Tenants and voucher holders
Apartment tenants in these buildings now have a new owner. The report does not say whether rents, management or lease terms will change.
Landlords
This sale is a data point for small mixed-use buildings in SoHo. The property sold for $10 million more than it did in 2022, after an office-to-apartment conversion and a new ground-floor retail lease.
Buyers and owners
The deal shows a mixed retail and residential building with full occupancy changing hands at $33.5 million. The buyer's identity beyond the entity name was not disclosed.
The highlights
- Lagfin bought the property from Vornado Realty Trust for $23.5 million in 2022.
- After that deal, 3,200 square feet of office space was converted into rental apartments.
- Buck Mason holds a 3,250-square-foot ground-floor lease, and the upper floors are full.
Why it matters Landlords
Converting office space to rentals and filling the retail space helped a small SoHo mixed-use owner sell for $10 million more than it paid.
Not known yet
- How many apartments are in the buildings and what they rent for
- Whether any units are rent stabilized
- Who the private Asian buyer is and what plans they have for the property
- Who will manage the buildings going forward
Background
In New York City, property sales are recorded with the Department of Finance, and deeds and related documents can be searched in the city's ACRIS system. A change in ownership generally does not cancel existing residential leases. The new owner takes over the building subject to those leases. Owners of residential buildings with three or more units must register the property with HPD each year, and that registration lists the owner and managing agent tenants can contact.
Summary written by Bulwark from Commercial Observer’s reporting. The original story is at commercialobserver.com. This is general information, not legal advice.
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