Herbert Smith Freehills Kramer advises Declaration Partners in SoHo long-term lease deal

The HSF Kramer real estate team advised David M. Rubenstein-backed fund Declaration Partners, through the entity Soho Retail Owner Tenant LLC, in signing a long-term lease with SDC Tri-Prince LLC valued at $50.1 million for three retail co-op units in a 16-unit residential building on Prince Street in SoHo. The 25-year lease, signed on October 28, 2025, has an option to extend to 2091.

The HSF Kramer team advising Declaration Partners was led by Real Estate partners Seth R. Niedermayer and Jay A. Neveloff, and included partner Jonathan H. Canter and associates Jacqueline Ryu and Celeste B. Williams.