Rumor: SoHo House Buys Libation Building On Ludlow Street for $12.5M
This image has been archived or removed.
Rumor has it SoHo House just increased its Lower East Side holdings.
SoHo House is still in the infant stage of converting the majestic 139 Ludlow Street to its newest members-only outpost. Demolition teams are inside on the regular, basically drilling the old foundation and pouring the new. It’s a huge job. A rooftop addition (what they’re calling a “conservatory”) is also in the works, as previously reported.
And now this…
Sources disclose intel alleging SoHo House acquired its neighbor at 137 Ludlow. The ugly-ass building with problem child Libation on the ground level. Word on the street is that the transaction was for $12.5 million, though public records are thus far mum on the matter. Jackie Jangana of Continental Worsteds is also whispered to be part of the deal.
Seller is Ludlow Holding Inc., which purchased the property back in 2007 for $5.5 million.
If we had to gamble, our money would certainly be on a SoHo House expansion. Perhaps the urban country club needs a new sidecar watering hole, or just more space altogether. Or maybe it’ll become a location of their sister company Pizza East, much like what’s happening in DUMBO.
Meanwhile, our intel also indicates that Libation won’t last much longer here. This sale seems to seal the deal.