Updated 2 days ago
424 Broadway, 3-F
Soho, Manhattan | Howard Street & Canal Street
Loft 7 Rooms4 Beds2 Baths4,000 Square FeetCondo Resale
$3,750,000
Common Charges$1,833
RE Taxes$3,894
Price Per SF
$938
Listing Features
- Architectural Dtls
- Full Floor
- High Ceilings [10']
- Open Space
- Oversized Windows
- Adjoining Pantry
Outdoor space and views
- East Exposure
- North Exposure
- South Exposure
- West Exposure
Building Amenities
- Voice Intercom
- Attended Elevator
Property Description for 424 Broadway, 3-F
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.
Private Showings by Appointment only, contact BC Realty Group LLC, LIC, listing broker Anny.
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.
Private Showings by Appointment only, contact BC Realty Group LLC, LIC, listing broker Anny.
Video Walkthrough
Listing History for 424 Broadway, 3-F
Now
07/20/2026
$3,750,000
Initial Price by Anny Yau
BC Realty Group
Launch
Building Details for 424 Broadway
OwnershipCondo
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessAttended Elevator
Year Built1915
Financing Allowed90%
Floors/Apts6/6
Transit and Citi Bike
Subway
Canal St
0.01 miles
Canal St
0.21 miles
Franklin St
0.28 miles
Spring St
0.3 miles
Canal St
0.34 miles
Citi Bike
Lispenard St & Broadway
0.05 miles
Howard St & Lafayette St
0.1 miles
Contact Agent
Contact Agent
Building Availability
Loft3+ Bedrooms in Soho
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: 2189727
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