Soho | The Real Deal New York

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Soho

Soho
New York, NY 10002

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

05/26/18
...Credit: Pixabay, Fuzzy Images/Flickr) Soho prices have been suffering for a few years now, and a recovery doesn't seem...

05/25/18
...industry. Greenland issued $2.7 billion in dollar bonds in 2014. Soho China, a stakeholder in the GM building, issued $1 billion in 2012. And China Vanke, which...

05/23/18
...districts in Manhattan — like Fifth Avenue, Madison Avenue, Soho and Bleecker Street — continue to be pocked with empty storefronts. As in other U...

05/23/18
...also inked a lease for 24,000 square feet in Soho at 584 Broadway in January. It has leased more than 1.1 million square feet over the...

05/22/18
Toll Brothers saw its best quarter ever for contract value — but the luxury homebuilder’s profits missed expectations, in part due to higher labor and...

05/22/18
...its attached parking spaces, a rare find in Soho. “But I don’t think that works these days. want a little more glitz...

...-121 Broadway in the setting of Manhattan’s Soho. The short video takes the viewer on a tour roughly between the Apple and...

...districts in Manhattan — like Fifth Avenue, Madison Avenue, Soho and Bleecker Street — continue to be pocked with empty storefronts. As in other U...

05/17/18
...the Trump International Hotel and Tower and Trump Soho hotels in Manhattan, though it agreed to a deal to end its licensing arrangement...

05/17/18
...A month after closing on a condominium in Soho for $7.6 million, Aby Rosen has sold an Upper East Side townhouse for $18.4 million, according...

05/16/18
...spring. The most drastic decline was in the Soho...

05/15/18
...an e-commerce luggage startup, has landed one of Soho’s largest leases in recent months. The company signed a lease for 56,500 square feet...

05/14/18
...a residential-and-retail building a 5-7 Mercer Street in Soho for $21 million and partnered with Highgate to buy the Gansevoort Park Avenue hotel, which...

05/11/18
UPDATED, May 14, 11:56 a.m.: Jack Resnick & Sons refinanced its office building 250 Hudson Street with a $115 million mortgage from PGIM Real Estate...

05/10/18
...tycoon David Matlin is about to list his Soho pad, and he wants a king's ransom for it. Matlin and his wife Lisa...

05/09/18
...percent). The biggest bargains are doorman one-bedrooms in Soho (down 36 percent) and non-doorman one-bedrooms in Tribeca (down 10.9 percent). Read the report here. Rentals...

05/08/18
...planning to double the size of a 50,000-square-foot Soho office building it bought last year for $65 million...

05/08/18
...it landed a 24,000-square-foot lease at 584 Broadway in Soho. The company is now valued at $500 million and closed on $70 million in a Series...

05/04/18
...In February, a Louis Vuitton-anchored retail package in Soho sold for $83 million to Aidan Brooks...

05/03/18
...such as the Meatpacking, Garment and Flower districts; Soho and NoMad. And it would cover sections of the outer boroughs that have been...

05/03/18
...on Airbnb, with Manhattan neighborhoods such as Chelsea, Soho and Greenwich Village seeing the biggest impact. Airbnb responded to the report by saying...

05/02/18
...inked a five-year lease for 38 Greene Street in Soho, according to sources familiar with the deal. The company will occupy the entire second...

05/02/18
...longtime No. 1 agent will work out of Corcoran's Soho office, according to the firm, which has now picked up three of Town's biggest...

05/01/18
...Property Group is in contract to buy the Soho office and retail building 446-448 Broadway for $45 million, according to sources. The 37,000-square-foot building...

...the shopping meccas of Upper Fifth Avenue and Soho were down 11 and 13 percent year-over-year, respectively, while Midtown tourist traps Times Square and Herald...

...the 1980s, it struggled with 29 King Street in Soho. Even after holding some units and renting them out for a few years, “we...

...is not happening is the 20,000-square-foot deal in Soho.” The softness in the market can actually bring some additional work to brokers, according...

retail-feature
05/20/16
...And some tenants are moving to cheaper locations. “Soho will always be Soho, but there needs to be a correction,” said Newmark Grubb...

...is happening in other popular areas such as Soho and Times Square, which are dealing with the reality of being so pricey that...

office-tenants-feature
01/26/16
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...

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

09/22/15
...Manhattan’s most popular shopping strips, Broadway in Soho and Fifth Avenue between 49th and 60th streets, is at a near halt, according...

...investors in major deals from Times Square to Soho to Downtown Brooklyn. This month, as many of these moguls spend the dog days...

07/21/15
...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...

07/07/15
From affordable housing to skyscraper megaprojects, Queens nabbed the spotlight for the majority of large residential projects filed in June with the Department of Buildings....

...her listings. The six penthouses atop the famed Soho building incorporate original details like barrel-vaulted ceilings with ultra high-end finishes, and prices range...

...at WeWork’s space at 175 Varick Street in Soho In New York City’s shared-office world, there is WeWork and Regus, and then...

...company of clothing store Zara, at 504 Broadway in Soho, setting a per-square-foot record for the neighborhood. To date, his six-person firm has closed...

...Park. In addition, over the past two years, Soho China spent $1.9 billion, including $700 million for a stake in the GM building and $600 million...

...greater availabilities. The amount of available space in Soho crept up earlier this year, data from a Cushman report in July showed. And...

Midtown Manhattan
...in Midtown South, and the corridor from roughly Soho to the Flatiron District on Fifth Avenue and Broadway came to be known as...

...last 24 months,” said Alan Miller, managing principal with Soho...

...Associates and the Adjmi family at 529 Broadway in Soho. All these new projects will greatly increase the number of existing properties that rake...

...townhouse at 113 Bedford Street, and a $12.5 million prospective Soho loft building at 508 Broadway. Click to enlarge Click to enlarge Strength in numbers When...

...firm’s seventh location opened at 337 Broadway in Soho in January, while its eighth outpost, a 65-agent office in Greenwich Village, launched last...

...hulking, three-block-long office building straddling the border of Soho and the Meatpacking District may provide relief to tenants priced out of the famously...

...the Louis Dreyfus Property Fund, acquired the 150,314-square-foot Soho office-and-retail building during the peak of the real estate market, in February 2007, for $59 million...

...company,” said Michael Rouzenrouch, president of the six-person, Soho...

...the West Village and the Mercer Hotel in Soho, among others. Hanson said the relatively inexpensive pod hotels — room rates there start at...

...this month), while designer Stella McCartney relocated to Soho in January. “Like ... likes to be with like. Fashion tenants that want to be...
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Market Reports
...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...

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

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

MNS
...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...

...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...

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