Vertex has acquired 61-63 Crosby Street, a boutique mixed-use trophy building in the heart of SoHo. The acquisition expands the firm’s growing Manhattan portfolio of well-located office properties. The deal was completed as an all-cash transaction.
Vertex Expands Portfolio with Strategic Acquisition in SoHo
Vertex, a NYC-based investment platform, has acquired another landmark building in New York. The five-story, mixed-use building at 61-63 Crosby Street marks the company’s latest acquisition. The five-story building spans 32,400 square feet and houses creative and technology tenants.
Vertex is an investment platform focused on acquiring underperforming commercial real estate. Vertex focuses on acquiring and repositioning underperforming commercial properties across Manhattan. Adam Arnow and Patrick Pavone co-founded the platform.
The deal marks Vertex’s second acquisition in less than a month. The purchase reflects the firm’s continued focus on well-located Manhattan office assets.
The all-cash transaction was brokered by Newmark’s Adam Spies, Adam Doneger, Josh King, Marcella Fasulo, and Meaghan Philbin. Olmstead Properties will serve as the property manager and exclusive leasing agent.
Significance of the Property
Located in the heart of SoHo, the landmark building comes with long-term stability provided by Patagonia’s NYC flagship. This store has a lease that runs through 2040. The upper floors feature approximately 24,300 square feet of office space.
The fully leased office spaces include creative and technology tenants, namely Comcast Ventures, Aptos Labs, and SISTER Group. The building was redeveloped in 2018, bringing modernized interiors, upgraded systems, and a penthouse with a private terrace. It fits the company’s portfolio, providing a stable, high-quality asset that will be owned long-term.
The asset supports both short-term opportunities and long-term ownership with strong cash flow. It is also a well-located historic building that adds value to the company’s Manhattan portfolio.
Vertex’s Long-Term Plans in Manhattan
In November 2025, Vertex acquired 373 and 381 Park Avenue South from ATCO Properties & Management. The $104 million transaction reflected the company’s focus on well-located Manhattan office properties. Following this momentum, it acquired 61-63 Crosby Street.
Backed by two long-established names in the New York real estate market, it targets office acquisitions across the city. It aims to assemble a portfolio of Manhattan properties that have historic character, a stable rent roll, and a location that continues to gain momentum.
