SoHo
SoHo submarket primer for institutional principals: the SoHo Cast-Iron Historic District boundary, prime retail PSF benchmarks on West Broadway and Greene/Prince/Spring, and the 2021 SoHo/NoHo rezoning that re-shaped conversion economics. Anchored to the $50M 131-133 Prince Street comp (Acadia Realty Trust, $16,667/SF retail co-op record). If you are buying or selling in SoHo, see SoHo Commercial Real Estate.
Retail Rent/SF
Cap Rate Range
Cast Iron Buildings
Historic District
SoHo Submarkets
Cast Iron District
The landmarked cast-iron blocks, with prime retail and gallery space on Greene, Mercer, and Wooster Streets.
West Broadway Corridor
SoHo's main retail street. Flagship stores, heavy foot traffic, and the neighborhood's highest street-level rents.
Broadway Frontage
The eastern edge of SoHo along Broadway: larger floor plates, with office over retail.
Property Types in SoHo
Cast Iron Lofts
Avg: 25,000 SF
Retail Co-ops
Avg: 5,000 SF
Mixed-Use
Avg: 35,000 SF
Development Sites
Avg: 15,000 BSF
SoHo Real Estate FAQ
What is the average cap rate for SoHo commercial properties?
SoHo commercial cap rates usually run 4.0% to 5.5% depending on property type and location. Prime retail on West Broadway and Greene Street trades at 4.0-4.5%. Mixed-use buildings on secondary streets can reach 5.0-5.5%. Buyers pay up for the cast-iron buildings because there will never be more of them.
What types of commercial properties are available in SoHo?
Cast-iron loft buildings, retail condos and co-ops, mixed-use buildings with residential over retail, and the occasional development site. Many buildings are landmarked, which protects the architecture but limits what you can change. Skyline Properties handles off-market SoHo acquisitions.
What makes SoHo attractive for commercial real estate investment?
Historic architecture, high-street retail demand, a wealthy residential population, and heavy tourism. Luxury brands, galleries, and high-end retailers pay top rents to be here. Landmark rules keep new development to a minimum, so existing buildings hold their scarcity value.
How do I sell a commercial property in SoHo off-market?
Skyline Properties handles confidential off-market SoHo sales, including the $50M sale of 131-133 Prince Street to Acadia Realty Trust. We bring owners qualified institutional buyers, family offices, and REITs looking for prime retail and mixed-use assets. Call Robert Khodadadian for a confidential valuation and a buyer list.
Own Property in SoHo?
Get a confidential valuation from Robert Khodadadian, who has closed $976M+ in transactions, including the record 131-133 Prince Street co-op, and knows the qualified buyers looking for SoHo properties.