561 Broadway # 6
Manhattan, NY, 10012 $ 5,750,000
Bedrooms5 Baths4.0 Sq 8,016 Monthly Estimate*
$ 38,216
for $5,750,000 with 5 bedrooms and 4 full baths. This 8,016 square foot home was built in 1902.
Unheralded, unique opportunity to buy out the entire 6th floor at the historic multi-use, live-work, loft building at 561 Broadway AKA 88 Prince Street. Buy as a pure investment, flip, commercial rental, or one's own private Soho loft home. 8,016 sq ft of raw Soho loft space currently divided into four separate commercial / retail loft spaces. Ability to rezone to residential (there is precedent) for the buyer with patience and expertise to do so.Three keyed elevator access. Central HVAC rooftop units are in place for a complete modernization. Massive eastern exposure with morning light flooding through a balcony overlooking the hustle and bustle on Broadway. Northern wall of windows facing the stylish Prince Street. Location unlike anything else. The crux of Prince Street and Broadway offers an iconic, historic, and trendy locale for your business or personal life. The design and flow of the space is limited only by your imagination, vision, and resources. Keep the layout, use one space and receive investment funds from your tenants OR flip the space into your dream home. Multiple viable options here. Coop is very rational, accepts certain financing, and is open to a wide spectrum of buyer types.The building, with entries on both 561 Broadway and 88 Prince Street was designed by Ernest Flagg, a Beaux-Arts trained New York architect who coined it the "Little Singer Building" in 1902. Construction began in spring of 1903, five years before building the Singer Tower which, at the time, was the world's tallest building. Converted to a co-op in 1979, the building has an unusual mix of residential and commercial units: 20 offices and 15 live/work units for artists, creatives and the like. The historic architecture and open airy look of the Little Singer derives from its wide windows and strip balconies floating across each level. The balconies have timeless wrought iron railings, sophisticated design, and vary from floor to floor. Beginning in 1983, the aging building (originally a Singer sewing machine factory) was restored by the co-op which included repainting the decorative ironwork that same eye-catching green color that Flagg used in 1903.Asking $7,500,000 OBO. Private showings granted to reputable buyers or brokers ONLY. Buyer brokers MUST COLLECT THEIR OWN FEE.Investment Income:Unit net sq ft gross sq ft monthly income potentialA 2,373 3,540 $11,797B 942 1,405 $4,683C 1133 1,690 $5,633D 926 1,381 $4,603Total 5,374 8,016 $26,716Monthly overhead breakdown:Maintenance: $15,700 (75% tax deductible)Electric use approximately: $1,000 (can be drastically reduced by using cooling towers already in place)Insurance: $2,000Images and floorplans: https://photos.app.goo.gl/eyLV5BQhkSFtd3g59Inquire within.AMENITIESAbundant ClosetsBalconyCentral Air ConditioningElevatorFloor To Ceiling WindowsFrench DoorsHardwood FloorsHigh CeilingsHome OfficeLive WorkLoftPrivate EntranceEXPOSURESEastNorth
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FeaturesGeneralCooling CentralAir
Exterior Features Balcony
HOA 15700.0
Patio/Porch Features Balcony
Architectural Style Prewar Loft
Pets Allowed BuildingYes Yes
Year Built 1902
Unit Number 6
Property SubType Apartment
Assoc Fee Paid Per Monthly
County NewYork
New Construction No
Property Type Residential
Subdivision Name Soho
Garage Y/N No
Total Rooms 10
City NewYorkCity
Total Units 0
Street Name Broadway
Land Lease Y/N No
Water Sewer Expense 0.0
Standard Status Active
Tax Lot 7
Property Sub Type Additional Apartment
Expected Active Date 2022-06-14
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InteriorTotal Stories 12
Air Conditioning Y/N Yes
Full Baths 4
Half Baths 0
Laundry Features BuildingWasherDryerInstallAllowed
Total Bedrooms 5
Entry Level 6
Total Baths 4
Living Area Units SquareFeet
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* Excluded FeaturesList BySamuel DeFranceschiListing Agent
Affordability Calculator
- Monthly Principal & Interest
- $38,216
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCo-op listings in Manhattan, NY
Average List Price $2,107,953
Percent of Sale Price 63%
About Manhattan, NY 1,662,179 Population
8% Since 2002
$ 86,055 Median Income
39.14 Median Age
16% Households with Children
Trends Information provided by ATTOM Data Solutions.
1503813 Elementary School
1503814 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
11/28/2023 | $5,750,000 | -3.36% | Price Down |
4/25/2023 | $5,950,000 | -11.13% | Price Down |
11/29/2022 | $6,695,000 | -10.73% | Price Down |
6/15/2022 | $7,500,000 | | Listed Price |