$17M for Soho Loft Building

The owners of 460 Broome Street sold their historic commercial loft building in Manhattan’s SoHo Historic District for $17.3 million in an all-cash deal.

That works out to $1,576 per square foot for the 11,000-square-foot building. “We implemented a dual for-sale and for-lease campaign for our client to put all options on the table,” said James Nelson, vice chairman in the capital markets group of Cushman & Wakefield.

Built in the 1920s, the elevator-serviced building comes with 2,500 square feet of prime retail on the first floor, a full basement, and 8,500 square feet of commercial space above. The property also comes with the right to build 1,500 square feet of remaining air rights, which could be sold.

“There was a great deal of interest in this gem in the heart of SoHo,” said Robert Burton, senior managing director for Cushman & Wakefield.

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