424 Broadway #3, New York, NY 10013
424 Broadway #3, New York, NY 10013
424 Broadway #3, New York, NY 10013
424 Broadway #3, New York, NY 10013
424 Broadway #3, New York, NY 10013
424 Broadway #3, New York, NY 10013
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Celinda Iaboni

Celinda Iaboni

+1(631) 786-9603
$ 3,750,000
Est. payment | /mo

2 Beds

2 Baths

4,000 SqFt

Save
$ 3,750,000
Est. payment | /mo
Save

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%

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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Celinda Iaboni

Celinda Iaboni

+1(631) 786-9603

Broker | License ID: 10491210466

Broker License ID: 10491210466

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424 Broadway #3

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