In a nugget of good news on the struggling Soho retail front, Birkenstock has taken over the two-story building at 120 Spring St.

The German footwear maker (“since 1774”) will pay landlord J.M. Fundy Realty about $850,000 a year for a triple-net lease, according to sources.

The deal values the currently vacant space, totalling 2,300 square feet including the basement, at about $1,100 per square foot on the ground floor and $75 for the second floor.

StreetEasy describes 120 Spring, between Greene and Mercer streets, built in 1920, as a “petite building nestled in the heart of Soho.”