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    Soho

    Soho
    New York, NY 10002
    Residential, Multifamily

    Soho is one of Manhattans archetypal 20th century gentrification stories.

    As has been well documented, the neighborhood which stretches south of Houston Street to Canal Street and is bounded by West Broadway to the west and Lafayette Street to the east went from being a haven for artists in the 1960s and 1970s to one of the citys priciest neighborhoods, where loft spaces were particularly prized.

    At the end of 2004, The Real Deal reported that the average price of an apartment in Soho had reached $1.56 million, up from $417,000 a decade earlier. By 2006, the neighborhood, along with Tribeca, had the highest average rents in the city.

    Owing to zoning and landmark restrictions, there wasnt a great deal of new development in Soho during the condo boom of mid-2000s. One of the most notable and controversial projects was the 46-story Trump Soho, a condo-hotel where prices eclipsed $8.7 million as early as summer of 2011.

    The neighborhood has also become known for its many retail offerings: On Broadway, large retailers such as H&M and Aldo have increasingly occupied storefronts, while on side streets many high-end independent boutiques have set up shop.

    -GB

    • Address Soho
    • neighborhood Soho
    • borough Manhattan
    • Event Retail Leasing
    • Address 1 Soho Square
    • Neighborhood Soho
    • Borough Manhattan
    • Square feet 13,266
    notes
    The pharmacy inked a lease for the Soho building.
    • Event Office Leasing
    • Address 1 Soho Square
    • Neighborhood Soho
    • Borough Manhattan
    • Square feet 108,000
    notes
    The health care technology company inked a 10-year lease in Hudson Square.
    • Event Sales
    • Address 1 Soho Square
    • Neighborhood SoHo
    • Borough Manhattan
    • Square feet 750,000
    • Price $ 650,000,000
    • Price per foot $ 866.00
    notes
    A 40% interest in the office and retail project sold for $650 million.
    • Event Office Leasing
    • Address 1 SoHo Square
    • Neighborhood Soho
    • Borough Manhattan
    • Square feet 31,753
    notes
    The technology company signed a lease.
    • Event Sales
    • Building Name Holiday Inn Soho
    • Address 138 Lafayette Street
    • Neighborhood Soho
    • Borough Manhattan
    • Price $ 128,600,000
    • Publication Date 11/01/2007
    • Event Date 09/22/2007
    • Party 1 Highgate Holdings
    • Party 1 Brokerage Cushman & Wakefield
    • Party 2 The Procaccianti Group
    notes
    The Rhode Island-based real estate developer/hotelier acquired the hotel for $128.6 million. The seller, who had previously announced plans to convert the property into a boutique hotel, originally paid $42.5 million for it in 2005. The Procaccianti Group also purchased the 300-room Tudor Hotel at the United Nations for an undisclosed amount (see below).
    • Event Retail Leasing
    • Building Name Soho 25
    • Address 25 West Houston Street
    • Neighborhood Soho
    • Borough Manhattan
    • Square feet 2,100
    • Publication Date 11/01/2005
    • Event Date 09/22/2005
    • Party 1 Metropolitan Housing Partners
    • Party 1 Brokerage CBRE
    • Party 1 Broker David LaPierre
    • Party 2 I Truli
    • Party 2 Brokerage Lansco
    • Party 2 Broker Roger Eulau, Matt Cohen
    notes
    Wine retailer takes space.
    • Event Retail Leasing
    • Building Name SoHo Co-op building
    • Address 106 Spring Street
    • Neighborhood Soho
    • Borough Manhattan
    • Square feet 4,600
    • Publication Date 03/01/2005
    • Event Date 01/20/2005
    • Party 1 Brokerage Newmark Grubb Knight Frank
    • Party 1 Broker Amira Yunis, Daniel Cooper
    • Party 2 Burton Snowboards
    • Party 2 Brokerage CBRE
    • Party 2 Broker Robert Gibson, Jedd Nero
    notes
    First retail store outside of Vermont hq, Post reported
    • Event Retail Leasing
    • Address SoHo Co-op building
    • Neighborhood Midtown
    • Borough Manhattan
    • Square feet 4,600
    • Publication Date 03/01/2005
    • Event Date 01/15/2005
    • Party 1 Brokerage Newmark Real Estate
    • Party 1 Broker Amira Yunis, Daniel Cooper
    • Party 2 Burton Snowboards
    • Party 2 Brokerage CBRE
    • Party 2 Broker Robert Gibson, Jedd Nero
    notes
    First retail store outside of Vermont hq, Post reported

    12/13/2019
    “It was always like Soho was a really important market to tenants growing, and now Williamsburg is extremely important,” said Greg Tannor of Lee & Associates...

    06/07/2019
    Corcoran’s Chiang said that within the past year she had a broker approach her looking for a Gold Coast Soho townhouse...

    06/01/2018
    It’s happened in dozens of New York City neighborhoods from Soho to Dumbo to the Lower East Side and East Village...

    04/01/2018
    At One Soho Square, Stellar Management is combining two buildings it bought in 2012 for $200 million into a hip office space...

    02/16/2018
    Clockwise from left: 505 Eighth Avenue, 128 West 34th Street, and 3100 Ocean Avenue in Brooklyn. January’s 10 biggest retail leasing deals were much smaller Clockwise from left: 505 Eighth Avenue, 128 West 34th Street, and 3100 Ocean Avenue in Brooklyn. January’s 10 biggest retail leasing deals were much smaller...

    01/01/2018
    Of the commercial brokerages that TRD analyzed, only three of the top 20 firms hit that mark: The 273-person Coldwell Banker Commercial is 49 percent female, while the little-known Soho-based firm Epic Commercial Realty, which has 21 brokers, is 48 percent female...

    11/03/2017
    Clockwise from left: 220 36th Street, 135-15 39th Avenue and 375 West Broadway The city's 10 biggest retail lease deals signed in October totaled 160,840 square Clockwise from left: 220 36th Street, 135-15 39th Avenue and 375 West Broadway The city's 10 biggest retail lease deals signed in October totaled 160,840 square...

    09/21/2017
    The two biggest project are the Brooklyn Navy Yard's Building 77 and One Soho Square, at 940,000 and 740,000 square feet respectively...

    06/08/2017
    With apparel retailers feeling the squeeze from online competition, grocers, food halls and restaurant tenants accounted for five of the 10 biggest retail deals inked in the With apparel retailers feeling the squeeze from online competition, grocers, food halls and restaurant tenants accounted for five of the 10 biggest retail deals inked in the...

    12/30/2016
    Clockwise from left: 161 Maiden Lane, 15 Hudson Yards, 70 Vestry Street, 460 West 42nd Street and 90 Morton Street UPDATED, 2:00 p.m., Jan. 3: What Clockwise from left: 161 Maiden Lane, 15 Hudson Yards, 70 Vestry Street, 460 West 42nd Street and 90 Morton Street UPDATED, 2:00 p.m., Jan. 3: What...

    12/27/2016
    From left: 9 West 57th Street, 10 Hudson Yards, 1285 Sixth Avenue, 280 Park Avenue and 225 Liberty Street UPDATED, Dec. 28, 4:50 p.m.: Manhattan’s From left: 9 West 57th Street, 10 Hudson Yards, 1285 Sixth Avenue, 280 Park Avenue and 225 Liberty Street UPDATED, Dec. 28, 4:50 p.m.: Manhattan’s...

    12/16/2016
    Rents also fell slightly in Queens. Out of all Manhattan neighborhoods, prices rose the most year-over-year in Soho, ticking up 7.8 percent...

    12/01/2016
    In this sense, the decline in asking rents in prime shopping districts like Soho â€' where REBNY reported a 9 percent drop on Broadway â€' can be a good sign...

    09/22/2016
    From left: Coach CEO Victor Luis and a rendering of 10 Hudson Yards, WeWork CEO Adam Neumann and 12 East 49th Street Coach once owned From left: Coach CEO Victor Luis and a rendering of 10 Hudson Yards, WeWork CEO Adam Neumann and 12 East 49th Street Coach once owned...

    09/01/2016
    Brodsky told TRD that his firm did well at 135 East 79th Street, which it filed plans for in 2012, but that it’s had other projects that have barely broken even. For example, back in the 1980s, it struggled with 29 King Street in Soho...

    09/01/2016
    After two years of decline, the city’s retail market is experiencing a sudden burst of activity. Retail tenants with an eye for a deal are makingAfter two years of decline, the city’s retail market is experiencing a sudden burst of activity. Retail tenants with an eye for a deal are making...

    05/20/2016
    While the data has not quite caught up, brokers said it’s taking longer to land tenants in part because some think rents will start falling. And some tenants are moving to cheaper locations. “Soho will always be Soho, but there needs to be a correction,” said Newmark Grubb Knight Frank’s Thomas Citron, adding that some retailers are looking to the Flatiron District as an alternative...

    05/01/2016
    The total amount of available ground-floor retail space along Madison Avenue has been growing in recent months, insiders said. “There are a lot of vacanciesThe total amount of available ground-floor retail space along Madison Avenue has been growing in recent months, insiders said. “There are a lot of vacancies...

    01/26/2016
    The top 25 office tenants in Manhattan take up more than 56 million square feet of space, and JPMorgan Chase occupies more of it than any The top 25 office tenants in Manhattan take up more than 56 million square feet of space, and JPMorgan Chase occupies more of it than any...

    12/28/2015
    Clockwise from top left: Beresford, 230 Central Park West, 520 West 28th Street and 102 Prince Street Buyers of pricey Manhattan real estate tapped the Clockwise from top left: Beresford, 230 Central Park West, 520 West 28th Street and 102 Prince Street Buyers of pricey Manhattan real estate tapped the...

    10/01/2015
    Hindsight is a precious thing, but foresight may be easier on the bottom line. In the wake of the 2008 financial crisis, it was easyHindsight is a precious thing, but foresight may be easier on the bottom line. In the wake of the 2008 financial crisis, it was easy...

    09/22/2015
    Retail leasing along two of Manhattan’s most popular shopping strips, Broadway in Soho and Fifth Avenue between 49th and 60th streets, is at a near halt, according to The Real Deal’s analysis of CoStar Data...

    08/01/2015
    But these are not your average neighbors. In New York City they own billions of dollars worth of real estate and are investors in major deals from Times Square to Soho to Downtown Brooklyn...

    07/21/2015
    The top 10 is rounded out by Steve Witkoff, Fisher Brothers and Howard Lorber’s 111 Murray Street in Tribeca (155 units, $973 million sellout); Shaoul’s Post Luminaria at 385 First Avenue in Gramercy Park (138 units, $177 million sellout); Bizzi & Partners’ 96 Varick Street in Soho (115 units, no sellout price detailed); Toll Brothers’ 959 First Avenue in Turtle Bay (113 units, $271 million sellout) and Aby Rosen’s 100 East 53rd Street in Midtown (99 units, $763 million sellout)...

    07/07/2015
    Source: TRD analysis of DOB permit applications with at least 15 units or 15,000 square feet From affordable housing to skyscraper megaprojects, Queens nabbed the Source: TRD analysis of DOB permit applications with at least 15 units or 15,000 square feet From affordable housing to skyscraper megaprojects, Queens nabbed the...

    ...while six areas saw a decrease in rents. Soho, where rent averages $556 per square foot, saw the highest year-over-year increase in asking rent...

    ...brands made up 39 percent of retail stores in Soho, and along Fifth and Madison avenues. Soho tops the list as the most diverse...

    ...for Dolce & Gabbana at 155 Mercer Street in Soho. View the full report online here. Q2 2015 Manhattan retail leasing: ABS Partners...

    ...increases were highest in the Financial District and SoHo, where rent increased 13 percent to $4,322. View the full report online here. January 2015 Manhattan residential...

    ...twelve months. Average ground floor asking rents in SoHo on Broadway between Houston and Broome have reached $762 per square foot, an increase of...

    ...year to $883 per square foot. On Broadway in SoHo between Houston and Broome the average asking rent increased 19 percent to $890 per square foot...
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