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The Singer Building
561 Broadway, 6
Soho, Manhattan | Spring Street & Prince Street
Loft 10 Rooms5 Beds4 Baths8,016 Square FeetCo-op
$5,750,000 $5,950,000
$5,750,000 $5,950,000
Updated 2 years ago
Off Market

The Singer Building

561 Broadway, 6

Soho, Manhattan | Spring Street & Prince Street

Loft 10 Rooms5 Beds4 Baths8,016 Square FeetCo-op

$5,750,000 $5,950,000
Maintenance$15,700
Price Per SF
$717

Listing Features

  • Abundant Closets
  • French Doors
  • Full Floor
  • High Ceilings
  • Live/Work
  • Private Elevator
  • Private Entrance
  • Flr-to-Clg Windows
  • Wall of Windows

Outdoor space and views

  • Balcony [80 SF]
  • East Exposure
  • North Exposure

Building Amenities

  • Video Intercom
  • Keyed Elevator

Policies

  • Pets Allowed
  • Pieds A Terre Ok

Property Description for 561 Broadway, 6

Unheralded, unique opportunity to buy out the entire 6th floor at the historic multi-use, live-work, loft building at 561 Broadway AKA 88 Prince Street. Buy as a pure investment, flip, commercial rental, or one's own private Soho loft home. 8,016 sq ft of raw Soho loft space currently divided into four separate commercial / retail loft spaces. Ability to rezone to residential (there is precedent) for the buyer with patience and expertise to do so.

Three keyed elevator access. Central HVAC rooftop units are in place for a complete modernization. Massive eastern exposure with morning light flooding through a balcony overlooking the hustle and bustle on Broadway. Northern wall of windows facing the stylish Prince Street. Location unlike anything else. The crux of Prince Street and Broadway offers an iconic, historic, and trendy locale for your business or personal life. The design and flow of the space is limited only by your imagination, vision, and resources. Keep the layout, use one space and receive investment funds from your tenants OR flip the space into your dream home. Multiple viable options here. Coop is very rational, accepts certain financing, and is open to a wide spectrum of buyer types.

The building, with entries on both 561 Broadway and 88 Prince Street was designed by Ernest Flagg, a Beaux-Arts trained New York architect who coined it the "Little Singer Building" in 1902. Construction began in spring of 1903, five years before building the Singer Tower which, at the time, was the world's tallest building. Converted to a co-op in 1979, the building has an unusual mix of residential and commercial units: 20 offices and 15 live/work units for artists, creatives and the like. The historic architecture and open airy look of the Little Singer derives from its wide windows and strip balconies floating across each level. The balconies have timeless wrought iron railings, sophisticated design, and vary from floor to floor. Beginning in 1983, the aging building (originally a Singer sewing machine factory) was restored by the co-op which included repainting the decorative ironwork that same eye-catching green color that Flagg used in 1903.

Asking $7,500,000 OBO. Private showings granted to reputable buyers or brokers ONLY. Buyer brokers MUST COLLECT THEIR OWN FEE.

Investment Income:

Unit net sq ft gross sq ft monthly income potential

A 2,373 3,540 $11,797

B 942 1,405 $4,683

C 1133 1,690 $5,633

D 926 1,381 $4,603

Total 5,374 8,016 $26,716

Monthly overhead breakdown:

Maintenance: $15,700 (75% tax deductible)

Electric use approximately: $1,000 (can be drastically reduced by using cooling towers already in place)

Insurance: $2,000

Images and floorplans: https://photos.app.goo.gl/eyLV5BQhkSFtd3g59

Inquire within.

AMENITIES
Abundant Closets
Balcony
Central Air Conditioning
Elevator
Floor To Ceiling Windows
French Doors
Hardwood Floors
High Ceilings
Home Office
Live Work
Loft
Private Entrance
EXPOSURES
East
North

Listing History for 561 Broadway, 6

Now
11/28/2023
$5,750,000 [-$200,000] [3.4%]
Price Drop by Samuel DeFranceschi
Nest Seekers International
04/24/2023
$5,950,000 [-$745,000] [11.1%]
Price Drop by Samuel DeFranceschi
Nest Seekers International
Load More

Building Details for 561 Broadway

OwnershipCo-op
Building TypeLoft
Service LevelVideo Intercom
AgePre-War
AccessKeyed Elevator
Year Built1902
Financing Allowed90%
Floors/Apts12/26
Learn More About the Building

Transit and Citi Bike

Subway

Prince St
0.03 miles
Spring St
0.13 miles
Broadway-Lafayette St
0.14 miles
Bleecker St
0.23 miles
Spring St
0.33 miles

Citi Bike

Mercer St & Spring St
0.07 miles
Greene St & Prince St
0.1 miles

Contact Agents

Contact Agents

Samuel DeFranceschi
Nest Seekers International
Nuttia Sunittramat
Nest Seekers International

Soho | Manhattan

Quick Profile

Famous for its art galleries, designer boutiques, cobblestone streets and cast-iron architecture, SoHo has always been full of buzz - wowing both tourists and locals alike. It’s rich with history (more so than most neighborhoods). So, whether you’re a computer nerd, serial shopper or foodie, you’re guaranteed to find something exciting to do in this storied neighborhood.

SoHo is bounded by Houston Street to the north, Canal Street in the south, 6th Avenue to the west and Crosby Street on the east.

The neighborhood has gone through many ups and downs over its long history. Enough to make a voluminous history book. When the Dutch discovered Lower Manhattan, they came across indigenous people living on the island. Technically, the American Indians were the first Manhattanites and then the Dutch moved in making them the second original Manhattanites. 

After the Civil War ended, the west side of Lower Manhattan flourished because the shipping routes changed. Textiles and the need for all types of products increased. Warehouses and large lofts were built and replaced farmland to accommodate the commerce. Many of those buildings are still standing and give SoHo its unique character and charm.

The bustling commerce eventually stopped and in the mid 1800’s, well-to-do families began moving into SoHo. They built exquisite buildings, many of which are characterized by their cast-iron facades. Soon after it became residential, theatres, music halls and eateries followed. The wealthy eventually left and the once prosperous district began another decline.  

The 1960’s marks SoHo’s most definitive period. City planners lost their bid to build a major highway that would level a portion of the neighborhood and many historic buildings. After their failed attempt to revitalize SoHo, artists quickly moved into the empty lofts and warehouses. Some legally, and other move-ins, not so legal. The city turned a blind eye. Artists of all mediums working from their new creative spaces created a ripple in the art scene. It was such a ripple that the well-to-do uptown crowd started buying their art and hanging out with them. The uptown folks eventually moved into the neighborhood and began buying up the lofts and warehouses. As soon as the word spread, up went the property values and the rest is history. 

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posted on April 13, 2022
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.
OLR ID: 1986610
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