61-63 Crosby St

61-63 Crosby St is located on the Crosby Street corridor in Soho between Broome and Spring Streets. The building was originally a 4-story Co-Op. L3 acquired the property in 2016 by purchasing 100% of the shares of the existing Co-Op. Once fully vacant, L3 performed an extensive adaptive reuse to convert the former loft apartments into a mixed-use boutique retail and office building. The redevelopment scope included close collaboration with Landmarks Preservation Committee to restore the historic façade, the addition of a 5th floor penthouse with an exclusive outdoor terrace, all new building systems and vertical transportation, new windows, luxurious office finishes, and modernized ground floor retail space. The project was completed in 2019. L3 leased the office space to three different office tenants, creating corporate headquarters for each of them. In 2024, L3 signed a lease with Patagonia for the ground floor retail space. In 2025, L3 recapitalized the asset with a new capital partner.