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$ 3,750,000
Est. payment | /mo
2 Beds
2 Baths
4,000 SqFt
$ 3,750,000
Est. payment | /mo
2 Beds
2 Baths
4,000 SqFt
Key Details
Property Type Condo
Sub Type Condo
Listing Status Active
Purchase Type For Sale
Square Footage 4,000 sqft
Price per Sqft $937
MLS Listing ID 503173
Bedrooms 2
Full Baths 2
Maintenance Fees $1,834
Year Built 1915
Annual Tax Amount $46,723
Property Sub-Type Condo
Property Description
ICONIC SOHO FULL-FLOOR
A rare opportunity to own an income-producing, full-floor commercial loft in the heart of Downtown Manhattan.
Located near Broadway and Canal Street—where SoHo, Nolita, Tribeca, and Little Italy converge—this approximately 4,000-square-foot third-floor loft is currently occupied by an art gallery and offers an extraordinary combination of architectural character, natural light, flexible use, and investment potential.
Oversized windows illuminate the expansive open interior, while approximately 10- to 12-foot ceilings, classic hardwood floors, exposed architectural details, and 24/7 elevator access create an impressive setting for a gallery, showroom, creative headquarters, design studio, fashion company, professional office, or owner-user.
Property Highlights
• Approximately 4,000 square feet
• Currently leased to an art gallery
• 24/7 elevator access
• Oversized windows and excellent natural light
• Approximately 10- to 12-foot ceilings
• Expansive, flexible open layout
• Classic hardwood flooring
• Two private bathrooms
• Lease expiration: April 30, 2027
Current Annual Income $202,464
Projected Monthly Rent at $65/SF $21,666
Projected Annual Income at $65/SF $259,992
Annual Operating Expenses
Expense Annual Amount
Common Charges $22,000 per year
Real Estate Taxes $46,726 per year
Insurance $1,250 per year
Total Annual Expenses $69,976
Investment Overview
Current Net Operating Income: approximately $132,488 annually
Projected Net Operating Income at $65/SF: approximately $190,016 annually
Current Cap Rate at $3,750,000: approximately 3.53%
Projected Cap Rate at $3,750,000: approximately 5.07%
A rare opportunity to own an income-producing, full-floor commercial loft in the heart of Downtown Manhattan.
Located near Broadway and Canal Street—where SoHo, Nolita, Tribeca, and Little Italy converge—this approximately 4,000-square-foot third-floor loft is currently occupied by an art gallery and offers an extraordinary combination of architectural character, natural light, flexible use, and investment potential.
Oversized windows illuminate the expansive open interior, while approximately 10- to 12-foot ceilings, classic hardwood floors, exposed architectural details, and 24/7 elevator access create an impressive setting for a gallery, showroom, creative headquarters, design studio, fashion company, professional office, or owner-user.
Property Highlights
• Approximately 4,000 square feet
• Currently leased to an art gallery
• 24/7 elevator access
• Oversized windows and excellent natural light
• Approximately 10- to 12-foot ceilings
• Expansive, flexible open layout
• Classic hardwood flooring
• Two private bathrooms
• Lease expiration: April 30, 2027
Current Annual Income $202,464
Projected Monthly Rent at $65/SF $21,666
Projected Annual Income at $65/SF $259,992
Annual Operating Expenses
Expense Annual Amount
Common Charges $22,000 per year
Real Estate Taxes $46,726 per year
Insurance $1,250 per year
Total Annual Expenses $69,976
Investment Overview
Current Net Operating Income: approximately $132,488 annually
Projected Net Operating Income at $65/SF: approximately $190,016 annually
Current Cap Rate at $3,750,000: approximately 3.53%
Projected Cap Rate at $3,750,000: approximately 5.07%
Location
State NY
County New York (manhattan)
Area Soho
Exterior
Utilities Available None
Amenities Available NONE
Handicap Access Yes
Others
Financing Bank Mortgage,Cash
Listed by BC Realty Group LLC
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477 Madison Ave 6th Floor, New York, NY
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