561 Broadway, Unit 6

561 Broadway, Unit 6

561 Broadway-88 Prince St
SoHo

$5,750,000
Price
5
Beds
4
Baths
8,016 Sq. Ft.
$717 / Sq. Ft.
8,016
Sq. Ft.
$717
per Sq. Ft.
a view of a balcony door
a view of a dining room with furniture window and wooden floor
a living room with furniture and a large window
a living room filled with furniture and a floor to ceiling window
a living room filled with furniture and a potted plant
an empty room with wooden floor and windows
a vase of flowers sitting on a table
a room with wooden floor pool table and chairs
a bedroom with balcony and furniture
a view of swimming pool with an outdoor seating
a view of a two chairs and table in a balcony
a view of a room with wooden floor and a bathroom
a utility room with cabinets washer and dryer
a room with table chairs and window
a view of a dining room with furniture
a kitchen with stainless steel appliances a sink a stove top oven a counter space and cabinets
a view of a kitchen with kitchen island wooden floor and living room
a living room with furniture and a window
a living room with furniture and a book shelf
a picture of city view
a building view
a view of a building with a street
a view of a building

Description

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...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 potential A 2,373 3,540 $11,797 B 942 1,405 $4,683 C 1133 1,690 $5,633 D 926 1,381 $4,603 Total 5,374 8,016 $26,716 Monthly 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: $2,000 Images and floorplans: https://photos.app.goo.gl/eyLV5BQhkSFtd3g59 Inquire within. Amenities Abundant Closets Balcony Central Air Conditioning Elevator Floor To Ceiling Windows French Doors Hardwood Floors High Ceilings Home Office Live Work Loft Private Entrance Exposures East North

Property Details for 561 Broadway, Unit 6

Architectural Style
Prewar

Location

Listing Courtesy of Nest Seekers LLC
Add your commute
LISTING UPDATED: 02/12/2024 01:31 PM

Property Details for 561 Broadway, Unit 6

StatusActive
MLS IDOLRS-1986610
Days on Market667
Taxes-
Maintenance$15,700 / month
Min. Down Pymt10%
Total Rooms10.0
Compass TypeCo-op
MLS TypeCo-op
Year Built1904
CountyNew York County

Building

561 Broadway-88 Prince St

14 Units12 StoriesBuilt in 1904

Location

Listing Courtesy of Nest Seekers LLC
Add your commute

Building Information for 561 Broadway, Unit 6

Building/Complex561 Broadway-88 Prince StFloor-Stories12Residences14Pet PolicyAllowedYear Built1904Building AgePre-warBuilding TypeMidrise

Payment Calculator

$51,003 per month

30 year fixed, 7.25% Interest

Principal and Interest

$35,303

Property Taxes

$0

Maintenance/Common Charges

$15,700

The Payment Calculator is for illustrative purposes only.

Property Information for 561 Broadway, Unit 6

Summary
Location and General Information
  • Subdivision Name: Soho
  • Cross Street: Spring Street/Prince Street
  • Stories Total: 12
  • Exposures: North, East
  • Water Sewer Expense: $.00
Taxes and HOA
  • Tax Lot: 7
  • Tax Deduction Percent: 75.00%
  • Tax Block: 498
  • Flip Tax Type: Percent
  • Association Fee Frequency: Monthly
  • Flip Tax: $3
  • Tax Deduction Amount: $1,177,500
  • Building Tax Lot: 7
  • Tax Monthly Amount: 0.0
  • Tax Abatement YN: false
Parking
  • Garage: No
Property
Lot Information
  • Living Area: 8016.0
  • Lot Size Dimensions: 0.0 x 0.0
  • Living Area Units: SquareFeet
Building Information
  • Landmark Status YN: true
  • Building Laundry Features: WasherDryerInstallAllowed
  • Building Pets Allowed: BuildingYes
Property and Assessments
  • New Development: No
  • Building Rules: PiedATerreAllowed, CorporateOwnerAllowed, BuildingWasherDryerAllowed
  • Sponsor Unit: No
  • Certificate Of Occupancy: No
  • Percent Of Common Elements: .00%
  • Common Interest: StockCooperative
  • Number Of Shares: 8
  • New Construction: No
  • Structure Type: Loft
Interior and Exterior Features
Exterior Features
  • Exterior Features: Balcony
Interior Features
  • Cooling: CentralAir
  • Floor Number: 6
  • Cooling: Yes
  • ElevatorsTotal: 2
  • Closets Total: 0
Multi Family
Multi-Family Information
  • Number Of Units Total: 0
Rental
Rental Information
  • Pets Allowed: UnitYes
  • Attendance Type: None
  • Land Lease: No

Property History for 561 Broadway, Unit 6

DateEvent & SourcePriceAppreciationLink
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 561 Broadway, Unit 6

This home is within New York City Geographic District # 2.
Rating
School
Type
Grades
Distance
P.S. 130 Hernando De Soto
Public - PK to 5
Nyc Lab Ms For Collaborative Studies
Public - 6 to 8
Lower Manhattan Community Middle School
Public - 6 to 8
Middle 297
Public - 6 to 8
Rating
School
Distance
P.S. 130 Hernando De Soto
PublicPK to 5

Nyc Lab Ms For Collaborative Studies
Public6 to 8

Lower Manhattan Community Middle School
Public6 to 8

Middle 297
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 561 Broadway, Unit 6, SoHo

561 Broadway, Unit 6 is a co-op for sale in SoHo. This property was listed for sale on June 15, 2022 by Nest Seekers LLC, it's currently listed at $5,750,000. This listing's school district is New York City Geographic District # 2. Nearby schools include P.S. 130 Hernando De Soto, Nyc Lab Ms For Collaborative Studies and Lower Manhattan Community Middle School. 561 Broadway, Unit 6 is a 5-bed, 4-bath, 8,016 sqft co-op built in 1904.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Nest Seekers LLC

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., All rights reserved. The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers’ personal, non-commercial use. The data relating to real estate for sale on this website comes in part from the IDX Program of OneKey® MLS. Information Copyright 2024, OneKey® MLS. All data is deemed reliable but is not guaranteed accurate by Compass. See Terms of Service for additional restrictions. Compass · Tel: 212-913-9058 · New York, NY Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York’s Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., all rights reserved. This information is not guaranteed, should be independently verified and may not reflect all real estate activity in the market. Offers of compensation set forth here are for other RLSParticipants only and may not reflect other agreements between a consumer and their broker.©2024 The Real Estate Board of New York, Inc., All rights reserved.