Lucid Trading Signed New SoHo Office Lease
The firm secured over 8,000 square feet in a SoHo building, adding to the local commercial real estate footprint.
Updated on Oct. 14, 2026 in Commercial
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Lucid Trading has signed a five-year lease for 8,263 square feet of space at 260 Spring Street in New York City. The transaction was finalized for the 11-story mixed-use property located in SoHo.
Why it matters
This move reflects continued activity in the local commercial office market, involving a property already occupied by tenants such as Manhattan Mini Storage and FedEx. The lease underscores the current demand for commercial space within the SoHo neighborhood.
The new lease spans 8,263 square feet at an asking rent of $85 per square foot. This five-year commitment places the firm in the 11-story mixed-use building at 260 Spring Street.
The players
Lucid Trading
A company founded in early 2025 that acts as a commercial tenant.
StorageMart
A real estate entity that owns and manages commercial properties, acting as the landlord for this transaction.
Thomas Higgins
The professional who represented the tenant during the lease negotiations.
Jared Rutledge
The professional who represented the landlord in the lease transaction.
The details
Lucid Trading secured the new space with the assistance of Thomas Higgins, who represented the tenant. Jared Rutledge handled the transaction on behalf of the landlord, StorageMart, to facilitate the firm's entry into the SoHo property.
Timeline
October 1, 2026: The lease agreement was formally signed.
Early 2025: Lucid Trading was founded.
Money Landscape
This lease highlights the ongoing demand for commercial office space within New York City's highly competitive SoHo district. It follows the broader pattern of occupancy trends observed in Manhattan's established mixed-use properties.
Business owners looking for space in SoHo can use this $85 per square foot figure as a current benchmark for local asking rents. Consult with a qualified real estate professional to understand how recent neighborhood lease rates may impact your own operational budget.
The takeaway
Commercial leasing activity in SoHo continues to reflect specific market pricing at $85 per square foot for multi-use properties. Readers should track local real estate disclosures or discuss commercial space needs with a qualified financial or real estate professional.
Further reading
For more trends on local business space, see Commercial.
Source note: This article includes information reported by Commercial Observer.
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