Permits have been filed for a new 13-story mixed-use building at 277 Canal Street (aka The Oltarsh Building), located at the northeast corner of Broadway and Canal Street in the Soho neighborhood of Manhattan.  The design of the new building will incorporate the outer shell of the historic three-story structure that has occupied the site since the 1920’s. 

The mixed-use development represents the first new residential building to be proposed under the new Soho/Noho Rezoning Plan.  The plan represents a substantive change in the outdated zoning regulations that have limited residential development in these two neighborhoods for the past half century.  The plan will not only increase the local housing stock but will require affordable housing units for each new development.  The City Council approved the rezoning plan in December 2021. 

The proposed 158-foot tall development will total 96,427 square feet and include residential and retail space.  The residential component will total 89,182 square feet and comprise 100 apartments, 25% of which will be set aside for affordable housing.  The retail component will total 7,245 square feet

Based on gross numbers, the average size of an apartment will be 891 square feet.  The permit does not reflect any on-site parking.

The corner parcel has a lot area of 9,959 square feet and claims 127 feet of frontage along Canal Street and 62 feet along Broadway. The site is currently occupied by a multitude of retail establishments across the three floors. 

The development, which falls within the Soho Cast Iron Historic District Extension, will require approval from the Landmarks Preservation Committee.

United American Land is listed as the developer of the site, while Morris Adjmi Architects is noted as the architect. UAL has been a prominent developer and landlord in the area.

The Canal Street Subway servicing the N, Q, R and W lines sits directly beneath the property.  The 6 line is serviced at Lafayette Street and Canal Street, one block to the east.