Meir and his team purchased this former button factory building in 2004, recognizing the enormous rent growth that was to occur in the vibrant SoHo area. With New York City emerging from the post-9/11 downturn and high-end retailers beginning to expand their footprints, Meir made an astute entry into what would soon become one of the country’s most sought after retail districts. The acquisition was made at a highly discounted price, due in part to the 100% vacancy at the time. Within six months of purchasing the asset, Meir and his team leased the entire space to Quiksilver (a large, publicly traded retailer), thus unlocking enormous value immediately.