525 BROOME Street #3RDFL
About This Property
While it is rare to find an authentic pre-war CONDO loft in SoHo (not a co-op or condop) with original features and a WBFP + outdoor space, what truly sets this 2250 ft. home apart from others is the incredibly flexible footprint. Lofts in SoHo tend to be long and narrow with only a few slim windows at the far ends (often with difficult plumbing/elevator/column location issues to navigate), while this 40'-wide loft provides easy ability to craft a spacious 3BR+/3BA+ home in grand scale. Offering uncommon expanse, perfectly placed columns + entrance, 12 windows (3 exposures) and flexible plumbing locations ...this home presents a rare opportunity to curate your dream loft without compromise. Features in this architecturally significant home include a Wood-Burning Fireplace in the (35'+ wide) great-room, high ceilings, cast-iron columns and beam-work, oversized windows, C/A/C, W/D, exposed brick, keyed-elevator directly into the home, hardwood flooring, low monthly costs, and a private outdoor space perched on top of the building with stunning SoHo/NYC views (one of 4 tiered decks on the Condo's roof, accessed via elevator then up 2 flights of stairs). Bright, quiet and comfortable living awaits you here - with your WBFP roaring in the winter, roof-deck sunsets in summer, and plenty of room to breathe in an A+ SoHo location. Lovingly occupied and cared for by an educator and artist for several decades, this home is in estate condition and is currently configured as a massive 1BR + home office + guest annex. First time on market, ready and awaiting your vision to create something remarkable.
525 Broome Street is a discreet boutique 6-story condominium (1 loft per floor) situated on a low-traffic side street in Soho proper. The neighborhood is phenomenal. This professionally managed Condo has low monthlies, exceptional architecture, and a stellar central Downtown location (90-second walk to Raoul's, Blue Ribbon, Dominique Ansel, The Dutch, Felix, Charlie Bird, Trader Joe's, Gourmet Garage, Felix, all SoHo retail and cafe's and gallery activity, etc.). Showings by appointment only.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Aug 24, 2021 | Sold | ||
Sold | |||
Aug 10, 2021 | In contract | - | |
In contract | |||
Apr 20, 2021 | In contract | - | |
In contract | |||
Mar 5, 2021 | Listed by Douglas Elliman Real Estate | $3,250,000 | |
Listed by Douglas Elliman Real Estate |
Property Highlights
Comparables
Status
Price/ft²
Listed On
Sold On
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
03/05/2021
|
3 Bed
|
3 Bath
|
2250 ft²
|
$3,250,000
3 Bed
3 Bath
2250 ft²
|
$2,850,000
-12.31%
08/24/2021
|
-
|
Joseph C Monteleone
Douglas Elliman Real Estate
|
Building Info
