$9,000,000
Updated 3 years ago
Sold

224 Lafayette Street

Soho, Manhattan | Broome Street & Spring Street

6,510 Square FeetIncome Property

$9,000,000
floors / apts6 / 10
Lot Size25'x46'
ZoneM1-5B
Building TypeLow-Rise
RE Taxes$48,809
Price Per SF
$1,382

This property was sold for $9,000,000 on 11/15/22.

Building Amenities

  • Voice Intercom

Property Description for 224 Lafayette Street

Introducing 224 Lafayette Street a legal 10 family (one unit was legally split into two) + 1 commercial store. The building is 24.5x46 on a 50 foot lot. You can build out back an additional four feet and you can build up an additional three floors. Seven units are currently vacant with 3 tenants remaining. Can be delivered fully vacant. Each of the 7 vacant units are currently FM. The pro forma RR would be 3000 per 1br unit x 10 apartments + 22,000 for the ground floor commercial. Brand new water boilers have been installed this year. This is a beautiful block & excellent investment opportunity for the right buyer. Expenses are only 75,000 yearly for the entire building.

Listing History for 224 Lafayette Street

Now
11/15/2022
$9,000,000
Sold and Closed by Nathaniel J. Smith
Oxford Property Group
07/26/2022
$9,495,000
Initial Price by Nathaniel J. Smith
Oxford Property Group

Building Details for 224 Lafayette Street

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1900
Floors/Apts6/10
Learn More About the Building

Transit and Citi Bike

Subway

Spring St
0.02 miles
Prince St
0.15 miles
Bowery
0.23 miles
Broadway-Lafayette St
0.23 miles
Canal St
0.27 miles

Citi Bike

Cleveland Pl & Spring St
0.02 miles
Lafayette St & Grand St
0.14 miles

Contact Agent

Contact Agent

Nathaniel Smith
FIND Real Estate

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. 

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: 87199TH