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2nd Floor - Unit 2
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Flex
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4,000 SF
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$3,250,000 USD
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Unit Size: 4,000 SF
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Condo Use: Flex
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Price: $3,250,000 USD
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Sale Type: Investment or Owner User
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Price/SF: $812.50 USD
Description
Annual Expenses:
Common Charges: $22,000 per year ($1850 per month)
Insurance: $1250 per year
Real estate Tax: $48,951 per year
Total: $72,201
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3rd Floor - Unit 2F3F
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Flex
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8,000 SF
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$7,000,000 USD
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Unit Size: 8,000 SF
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Condo Use: Flex
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Price: $7,000,000 USD
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Sale Type: Investment
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Price/SF: $875.00 USD
Description
424 Broadway, 3rd Floor — A Full-Floor SoHo Statement Property
Offered at $3,750,000
Combined 2F + 3F Offering: $7,000,000 | Projected 5.4% Cap Rate
Command an entire floor in the heart of SoHo with this extraordinary approximately 4,000-square-foot commercial condominium loft, currently occupied as an art gallery.
A private elevator opens directly into the unit, creating an impressive and memorable sense of arrival. Inside, soaring 10–12-foot ceilings, authentic loft character and approximately 10 oversized windows fill the expansive space with exceptional natural light.
The full-floor layout delivers the scale, flexibility and presence sought by galleries, luxury showrooms, creative companies, design studios and businesses seeking a distinctive Manhattan headquarters. Maintain it as an income-producing investment or position it for future owner occupancy.
Investment Highlights
Entire approximately 4,000-square-foot floor
Direct elevator access into the unit
Approximately 10 oversized windows
Dramatic 10–12-foot ceilings
Currently occupied as an art gallery
Current monthly rent: $16,872
Projected market rent: approximately $21,666 per month
Lease expiration: April 30, 2027
Annual operating expenses: approximately $69,976
Available separately for $3,750,000
Also available with the vacant 2nd floor for $7,000,000
Combined projected NOI: approximately $377,800
Combined projected cap rate: approximately 5.4%
Combined offering totals approximately 8,000 square feet
Prime SoHo location near Nolita, Tribeca, Little Italy and Chinatown
An Address That Makes an Impression
Positioned along one of downtown Manhattan’s most recognizable commercial corridors, 424 Broadway places its owner at the crossroads of art, fashion, design, commerce and culture.
This is more than commercial space—it is a full-floor SoHo asset with identity, scale and undeniable presence, plus the rare opportunity to acquire the adjoining full-floor condominium and control approximately 8,000 square feet at a projected 5.4% cap rate.
The 5.4% cap rate applies to the projected combined 2F and 3F offering at $7,000,000, not to the 3F unit individually.
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3rd Floor - Unit 3rd Floor
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Office
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4,000 SF
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$3,750,000 USD
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Unit Size: 4,000 SF
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Condo Use: Office
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Price: $3,750,000 USD
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Sale Type: Investment or Owner User
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Price/SF: $937.50 USD
Description
A Rare Multi-Floor SoHo Loft Investment Opportunity, currently leased to Downs & Ross Art Gallery.
Pricing:
2nd Floor (4,000 SF): $3,250,000
3rd Floor (4,000 SF): $3,750,000
Combined (8,000 SF): $7,000,000
Please see attached OM for full details.
Available for immediate showings.
Located along prime Broadway, this offering presents a rare opportunity to acquire two full-floor commercial condominiums, totaling approximately 8,000 square feet of authentic SoHo loft space.
Each floor features 10–12 foot ceilings, direct elevator access opening into the entire loft, and approximately 10 massive floor-to-ceiling windows, delivering exceptional volume, natural light, and presence rarely available in today’s market.
Ideal for headquarters, showroom, gallery, or creative office use, the property offers scale, identity, and long-term value in one of Manhattan’s most prestigious commercial corridors.
Investment Highlights
*Opportunity to acquire one or both full floors
*Approx. 4,000 SF per floor | 8,000 SF combined
*10–12 ft ceilings with authentic loft character
*Direct elevator opening into each full-floor unit
*10 oversized floor-to-ceiling windows per floor
*Prime SoHo / Broadway location
*Strong end-user and investment appeal
Contact me directly for a tour !
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Anny Yau
BC Realty Group LLC
