424 Broadway, 3-F
Soho | Howard Street & Canal Street
Rooms
7
Bedrooms
4
Bathrooms
2
Status
Active
Real Estate Taxes
[Monthly]
$ 3,894
Common Charges [Monthly]
$ 1,833
ASF/ASM
4,000/372
Financing Allowed
90%
Property Description
ICONIC SOHO FULL-FLOOR ART GALLERY LOFT
FOR SALE — $3,750,000
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
Full-floor commercial loft
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
Private pantry
Two private bathrooms
Lease expiration: April 30, 2027
Prime Downtown Manhattan location
Current Income
Income Summary Amount
Current Monthly Rent $16,872
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
Real Estate Taxes $46,726
Insurance $1,250
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%
The existing lease provides immediate income through April 2027, while the projected market rent offers meaningful future upside. This is an exceptional opportunity for an investor seeking a prime Downtown asset or an owner-user planning for future occupancy.
Unmatched Downtown Location
Surrounded by internationally recognized galleries, boutiques, restaurants, hotels, and creative businesses, the property benefits from substantial pedestrian traffic and immediate access to several of Manhattan’s most desirable neighborhoods.
Convenient access to the N, Q, R, W, 6, J, Z, A, C, and E subway lines at Canal Street.
Video Tour
https://youtu.be/eoly90GceJ8
OWN THE SPACE. OWN THE LOCATION. OWN A PIECE OF DOWNTOWN MANHATTAN.
FOR SALE — $3,750,000
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
Full-floor commercial loft
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
Private pantry
Two private bathrooms
Lease expiration: April 30, 2027
Prime Downtown Manhattan location
Current Income
Income Summary Amount
Current Monthly Rent $16,872
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
Real Estate Taxes $46,726
Insurance $1,250
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%
The existing lease provides immediate income through April 2027, while the projected market rent offers meaningful future upside. This is an exceptional opportunity for an investor seeking a prime Downtown asset or an owner-user planning for future occupancy.
Unmatched Downtown Location
Surrounded by internationally recognized galleries, boutiques, restaurants, hotels, and creative businesses, the property benefits from substantial pedestrian traffic and immediate access to several of Manhattan’s most desirable neighborhoods.
Convenient access to the N, Q, R, W, 6, J, Z, A, C, and E subway lines at Canal Street.
Video Tour
https://youtu.be/eoly90GceJ8
OWN THE SPACE. OWN THE LOCATION. OWN A PIECE OF DOWNTOWN MANHATTAN.
ICONIC SOHO FULL-FLOOR ART GALLERY LOFT
FOR SALE — $3,750,000
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
Full-floor commercial loft
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
Private pantry
Two private bathrooms
Lease expiration: April 30, 2027
Prime Downtown Manhattan location
Current Income
Income Summary Amount
Current Monthly Rent $16,872
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
Real Estate Taxes $46,726
Insurance $1,250
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%
The existing lease provides immediate income through April 2027, while the projected market rent offers meaningful future upside. This is an exceptional opportunity for an investor seeking a prime Downtown asset or an owner-user planning for future occupancy.
Unmatched Downtown Location
Surrounded by internationally recognized galleries, boutiques, restaurants, hotels, and creative businesses, the property benefits from substantial pedestrian traffic and immediate access to several of Manhattan’s most desirable neighborhoods.
Convenient access to the N, Q, R, W, 6, J, Z, A, C, and E subway lines at Canal Street.
Video Tour
https://youtu.be/eoly90GceJ8
OWN THE SPACE. OWN THE LOCATION. OWN A PIECE OF DOWNTOWN MANHATTAN.
FOR SALE — $3,750,000
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
Full-floor commercial loft
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
Private pantry
Two private bathrooms
Lease expiration: April 30, 2027
Prime Downtown Manhattan location
Current Income
Income Summary Amount
Current Monthly Rent $16,872
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
Real Estate Taxes $46,726
Insurance $1,250
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%
The existing lease provides immediate income through April 2027, while the projected market rent offers meaningful future upside. This is an exceptional opportunity for an investor seeking a prime Downtown asset or an owner-user planning for future occupancy.
Unmatched Downtown Location
Surrounded by internationally recognized galleries, boutiques, restaurants, hotels, and creative businesses, the property benefits from substantial pedestrian traffic and immediate access to several of Manhattan’s most desirable neighborhoods.
Convenient access to the N, Q, R, W, 6, J, Z, A, C, and E subway lines at Canal Street.
Video Tour
https://youtu.be/eoly90GceJ8
OWN THE SPACE. OWN THE LOCATION. OWN A PIECE OF DOWNTOWN MANHATTAN.
Listing Courtesy of BC Realty Group
Care to take a look at this property?
Apartment Features
A/C
View / Exposure
North, East, South Exposures
Building Details [424 Broadway]
Ownership
Condo
Service Level
Voice Intercom
Access
Attended Elevator
Block/Lot
209/7501
Building Type
Low-Rise
Age
Pre-War
Year Built
1915
Floors/Apts
6/6
Mortgage Calculator in [US Dollars]
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market.
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Additional building data provided by On-Line Residential [OLR].
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
Fair Housing
