Two Full-Floor Office
For Sale
$3,250,000
424 Broadway, New York, NY 10013
Two full-floor office condominium units with direct elevator access and authentic loft character, including 10-12 ft ceilings.
Property Size8,000 SF
Price / SF$406.25
Days on Market65
Property Features for 424 Broadway
General Information
Standard status
Active
Size
8,000 SF
Elevators
Yes
Property subtype
Commercial
Additional Details
Office Units
2
Building Details
Building Size
4,000 SF
Year Built
1915
Listing Agency:
BC Realty Group LLC
(347) 921-2111
Listed By:
Anny Yau
(347) 921-2111
Source:
Serhant
Added: May 29
Changed: Jul 31
Last Checked: Jul 31 at 2:55AM
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
Investment Insights
Based on property information with market context.
Two full-floor office condominium units totaling approximately 8,000 square feet of authentic SoHo loft space. Each floor features direct elevator access opening into the entire loft, 10-12 foot ceilings, and approximately 10 floor-to-ceiling windows per floor for abundant natural light and strong loft presence. The configuration supports a range of office and creative uses, including headquarters, showroom, gallery, or creative office use.
Located at 424 Broadway in Manhattan’s SoHo/Broadway commercial corridor, the property offers visibility and identity associated with the area’s established business environment.
Built in 1915, the building’s scale and layout are well suited for buyers seeking either one floor or both floors, depending on space needs.
Located at 424 Broadway in Manhattan’s SoHo/Broadway commercial corridor, the property offers visibility and identity associated with the area’s established business environment.
Built in 1915, the building’s scale and layout are well suited for buyers seeking either one floor or both floors, depending on space needs.
Key Highlights
- Two full‑floor office condominium units totaling approximately 8,000 SF
- Direct elevator access opening into each full‑floor loft unit
- 10‑12 ft ceilings on each floor
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $411.8k | $51.48 |
| − Vacancy | −$77.8k | −$9.73 |
| EGI | $334.0k | $41.75 |
| − OpEx | −$83.5k | −$10.44 |
| NOI | $250.5k | $31.31 |
8,000 SF · lease $51.48/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.58M
$3.13M – $4.18M
NOI $250,502 @ 7.0% cap · market cap 7.71%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$19.91M
$17.42M – $23.23M
NOI $1,393,920 @ 7.0% cap · market cap 42.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two full-floor office condominium units with direct elevator access and authentic loft character, including 10-12 ft ceilings.
Where is this office units 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 office condominium units totaling approximately 8,000 SF; Direct elevator access opening into each full‑floor loft unit; 10‑12 ft ceilings on each floor
