Tram stop No.17 is on the corner of Princes St and Lygon St. Tram Route 96 (St Kilda Beach through the City to East Brunswick) stops at No.17 approximately every 8 minutes (both ways). Stop 17 is a 2 minute walk from 140 Princes St.
Bus routes 250 (City to Latrobe Uni) and route 251 (City to Northland) both travel along Rathdowne St stopping near the corner of Princes St approximately every 10 minutes. The bus stop is a 2 minute walk from 140 Princes St.
See the public transport journey planner here