3-F-424 Broadway, New York, NY

Condo

For Sale

Listed price in listed location currency (USD).

$3,750,000

420

MLS® RLS20104692

Overview

Key Facts

Type Apartment

Levels Residential

Size 4000 sqft

Garage

Maintenance Fees $1,833

Taxes $46,728

Days Active 0

Approx. Age 1915

Avg. Price Per Sqft $937

MLS® Number RLS20104692

Property Address: 3-f-424 Broadway, New York, NY, 10013-5806

Average square foot calculated using Size range provided by listing agent.

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.

MLS® NumberRLS20104692

Locker

Ensuite Laundry

Balcony

Furnished

Laundry Level

Exposure

Exterior

Garage

Approx. Age1915

Stories6

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

Heat

A/C

Extras

Map

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