High Street Residential Tops Out 99-Unit Luxury Tower in SoHo, Marking First Manhattan Project
High Street Residential, the residential subsidiary of Trammell Crow Company, announced Aug. 10 that it has topped out construction on The Marq, a 25-story luxury multifamily tower in New York City's SoHo neighborhood. The milestone marks the first Manhattan project for High Street Residential and advances one of the more closely watched urban infill residential developments in Lower Manhattan.
Located on a formerly vacant lot at 126 Lafayette St., The Marq will deliver 99 residential units, 2,072 square feet of ground-floor retail space, and 25 affordable apartment units offered at a blended Area Median Income of 60%. The project is targeted for completion in the fourth quarter of 2027.
Project Details and Amenity Package
Units at The Marq will range from studios to three-bedroom penthouses. The building's amenity program includes a gym, sauna, meditation room, demonstration kitchen, and coworking lounge. Residents will have access to multiple outdoor spaces, highlighted by a 25th-floor sky terrace offering views of the New York City skyline.
The project team includes Marvel Architects as architect, Leeding Builders Group as general contractor, and Chris Shao Studio as interior designer. High Street Residential is developing the project alongside capital partners, whose identities were not disclosed in the announcement.
"We are pleased to have reached this exciting milestone on our first project in Manhattan. Our aim is for The Marq to reflect the vibrancy and elegance of this iconic community of SoHo," said Michael Adamo, a Principal with High Street Residential in New York. "This neighborhood blends historic charm with modern sophistication, offering future residents unparalleled access to world-class dining, boutique shopping, art galleries, and cultural institutions. With its proximity to major transit hubs and green spaces like Hudson River Park, SoHo remains one of New York City's most desirable locations for residential development. We're proud to bring this project to life."
SoHo Location and Neighborhood Positioning
The Marq sits at the southern end of SoHo, a neighborhood characterized by cast-iron architecture, dense retail and gallery corridors, and artist lofts. The site is steps from seven subway lines and within walking distance of SoHo's office district, Hudson River Park, and the Hudson River Greenway. The building's location on Lafayette Street places it near multiple museums and public parks.
Developable land in Lower Manhattan is limited, making a ground-up tower on a vacant SoHo lot a relatively uncommon development opportunity. The inclusion of 25 affordable units at 60% AMI reflects a mixed-income structure that can support project approvals and financing in New York City's regulatory environment.
High Street Residential's Platform and Pipeline
High Street Residential specializes in urban, infill mixed-use residential development and the redevelopment or repurposing of existing facilities. The firm currently has approximately 14,400 units in process or in its pipeline. Over the past two decades, it has completed approximately 18,500 units valued at nearly $5.7 billion.
Parent company Trammell Crow Company, a wholly-owned subsidiary of CBRE Group, Inc. (NYSE: CBRE), reported nearly $30 billion of projects in process or in its pipeline as of March 31, 2026. Founded in 1948, Trammell Crow Company has developed or acquired 3,000 buildings valued at $90 billion across more than 700 million square feet. The firm operates approximately 465 employees across 26 offices in the United States and Europe.
Market Context
The Marq's topping out comes as multifamily continues to lead commercial real estate transaction activity. Apartment assets accounted for 29.2% of single-property transaction value and 29.6% of properties traded in the first quarter of 2026, outpacing other major property sectors. Broader commercial real estate transaction volume for full-year 2025 reached $560.2 billion, up 14.4% year-over-year, the second consecutive annual increase, with fourth-quarter 2025 volume of $179.9 billion representing a 20.7% sequential gain.
For High Street Residential, a 2027 delivery horizon means the project will be completed into a future market, with the firm underwriting current construction costs against expectations for Manhattan rental demand and occupancy at the time of stabilization. The combination of a luxury unit mix, an affordable housing component, and a transit-rich SoHo address reflects the firm's urban infill development approach as it expands its footprint into Manhattan for the first time.