Full-Floor Loft Office
For Sale
$3,250,000
424 Broadway, New York, NY 10013
Two full-floor loft office condos with direct elevator entry and 10–12' ceilings, suitable for HQ, showroom, or gallery.
Property Size4,000 SF
Price / SF$812.50
Days on Market146
Property Features for 424 Broadway
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Commercial
Site & Location
Neighborhood
Downtown
Additional Details
Clear Height
12 ft
Office Units
2
Listing Agency:
BC Realty Group LLC
Listed By:
Anny Yau · License #823004448
(347) 921-2111
Source:
Prideestates
Added: Jun 1
Changed: Oct 11
Last Checked: Oct 24 at 5:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BC Realty Group LLC
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Investment Insights
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This offering features two full-floor commercial condominium interests designed for loft-style office and creative use. Each floor is configured with authentic loft character, including 10–12 foot ceilings and approximately 10 massive floor-to-ceiling windows that bring natural light and open volume to the space. Direct elevator access opens into the entire loft, creating an efficient, flexible floorplan that can support a range of layouts without compartmentalizing the core work area.
The property is located along Broadway in Manhattan, providing a prominent setting for businesses that benefit from a visible, street-oriented presence. Each floor operates as its own full-floor unit, giving an owner the option to acquire one floor or both, depending on whether the goal is a single tenant headquarters or combined occupancy.
For end users, the combination of direct elevator entry, ceiling height, and extensive window coverage supports environments such as headquarters, showrooms, galleries, and creative offices. For buyers evaluating flexibility, the ability to purchase one or both full floors allows tailoring to current space needs while maintaining a loft-forward presentation across the entire floorplate.
The property is located along Broadway in Manhattan, providing a prominent setting for businesses that benefit from a visible, street-oriented presence. Each floor operates as its own full-floor unit, giving an owner the option to acquire one floor or both, depending on whether the goal is a single tenant headquarters or combined occupancy.
For end users, the combination of direct elevator entry, ceiling height, and extensive window coverage supports environments such as headquarters, showrooms, galleries, and creative offices. For buyers evaluating flexibility, the ability to purchase one or both full floors allows tailoring to current space needs while maintaining a loft-forward presentation across the entire floorplate.
Key Highlights
- Two full‑floor commercial condominium spaces totaling approx. 8,000 SF (approx. 4,000 SF per floor)
- Each floor has 10–12 ft ceilings and authentic SoHo loft character
- Direct elevator access opens into each full‑floor loft space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$125,251
Cap Rate
3.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,505,020
$2.5M
Cap Rate 7%
$1,789,300
$1.8M
Cap Rate 9%
$1,391,678
$1.4M
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$205.9K $51.48/SF
− Vacancy
−$38.9K −$9.73/SF
EGI
$167.0K $41.75/SF
− OpEx
−$41.8K −$10.44/SF
NOI
$125.3K $31.31/SF
Area
New York, NY
Vacancy
18.90%
Lease Rate
$51.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,505,020
Cap Rate 7%
$1,789,300
Cap Rate 9%
$1,391,678
Alternative Uses
Best Use
Office B
$1.79M
$1.57M – $2.09M
NOI $125,251 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.96M
$8.71M – $11.62M
NOI $696,960 @ 7.0% cap · market cap 21.44%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
12 ft
Clear height
2
Office units
Location Intelligence
Trade Area within ½ mile
34,344
Businesses Nearby
Explore this area
Business Placement
Demographics for 10013, NY
31,042
Population
15,933
Households
1.9
Avg Household Size
36
Median Age
72%
College-Educated
89%
High-School Grad
0.5 sq mi
ZIP Area
62,084
Density / Sq Mi
$159,474
Median Household Income
$92,765
Median Earnings
$2,378
Median Rent
$2,000,001
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Two full-floor loft office condos with direct elevator entry and 10–12' ceilings, suitable for HQ, showroom, or gallery.
Where is this office unit located?
The property is located at 424 Broadway New York, NY.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Two full‑floor commercial condominium spaces totaling approx. 8,000 SF (approx. 4,000 SF per floor); Each floor has 10–12 ft ceilings and authentic SoHo loft character; Direct elevator access opens into each full‑floor loft space
