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Manhattan Neighborhood Market Report: SoHo Real Estate Guide

SoHo

New York, NY 10013

SoHo ( stands for South of Houston - pronounced "How -Stun")

Soho is a premiere destination for the world's trendiest jet setters, New York's SoHo district has something to offer just about everyone. Bordered to the North by Houston Street, to the South by Canal Street, to the West by Sixth Avenue and to the East by Broadway.

Soho is characterized by the imposing cast-iron architecture of the late 19th Century that was built for manufacturing and warehousing. The beautiful cast iron structures that characterize the area were New York's original skyscrapers, originally the City's tenderloin in the early 1800's.

As New York grew industry moved in. Many of the cast-iron buildings on the cobblestone streets were used as sweat shops. The sweatshop slums in Soho was known as "hells hundred acres" eventually labor laws forced the sweatshops to close and industry moved uptown.

SoHo was mostly abandoned and then re-discovered in the 60's by artists who were attracted by it's huge open spaces with good light and comparatively low rents. These artists built galleries and loft spaces. In the 1970's Soho became a residential / commercial / artistic zone.

In the early 1980s, as the area's popularity spread, soaring rents drove the original artist colony to seek less costly neighborhoods. Their exhibition galleries remained however, and today the works of some of the world's most celebrated contemporary artist are on display commanding very high prices.

Today loft apartments in Soho sell for multi-millions of dollars. The lofts range from raw space to designer spaces. This eclectic neighborhood has something to offer to everyone. It is a vibrant downtown Manhattan neighborhood.

Whatever your interests, whether it's art or shopping, architecture, or dining or just window - shopping or just people watching Soho is the place to be. From the huge Canal Jeans on Broadway to the many little unique antique and art deco shops to trendy fashion like Prada, Armani Exchange, Ralph Lauren and Bloomigdales.

The wonderful side streets between Prince and Grand are filled with great spots to eat and drink and even go online at the Cybercafe.

Soho Market Report

New York, NY 10013

Soho by the Numbers:

Soho Loft Sales: 4Q/06

Median sale price: $1,625,000

Median price per s.f. $1,176.

Average sale price: $1,847,508

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Manhattan Neighborhood Real Estate Market Reports:

A blog series by Mitchell Hall

Clinton/Hells Kitchen

Battery Park City

Posted by Mitchell Hall - Manhattan Real Estate on 02/11/2007 07:23 PM

Comments (10)

Market Report in the Regional (Localism) Channel

soho, manhattan, real estate, market report, lofts, history

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10 Comments on Manhattan Neighborhood Market Report: SoHo Real Estate Guide

FEB

2007

Hey Dude,

Another amazing local piece, and on my very favorite area of New York.

I NY

Hey Laurie, California Girl

This ones for you!

Your description makes me feel like I'm there, it just gets better and better. Of course I remember a day when I was in NYC and people wanted to move on to other things; I sent them off and I stayed, it was about 105 out which I love anyway, and I did what you described; unobtrusively people-watching. Sometimes on a really cold winter day I fantasize about that day; you brought me back to that memory, thanks Mitchell.

Hi Carole,

It was bitter cold today, gorgeous day but cold my hands froze taking the pictures. I had to post this twice when I went to add neighborhood it froze and when I backspaced the whole post was gone. I had to start from scratch.

Maybe your hands were still cold :-) That happened to me twice and I finally started drafting in writely.com. Of course if my posts were as good as yours I would be doubly upset lol. The art deco rocks there, for sure.

I wrote it in word so I at least had the copy, the pictures and the links had to be done all over. When I went to add neighborhood I got the google map but I already entered SoHo as a neighborhood a few weeks ago. Any way it's posted now. I don't know how to center type on A/R so I keep editing. Your posts are just as good.

Hey Dude,

Thank you for the little taste of home.

I worked in Tribeca/Soho for 7 years, loved it down there. I watched the beginning of the transition to what it now is, before I left. On a recent trip I spent a considerable amount of time in Soho and felt like a tourist.

Thank you,

FEB

2007

Laurie,

I know Soho has really changed, It's like a downtown fifth Avenue now with all the designer names.

JUL

Hi Mitchell,

Nice post. I like the use of the phrase real estate guide. I am going to adopt that. Thank you. You were doing hyper localism before it was fashionable, hah.

Ken

JUL

Hi Ken

Thanks for stopping by. I never knew it was called hyper localism until recently. It's all I've ever really done. I just write about what I know local real estate. I like phrases like real estate guides and neighborhood reports. They have a long shelf life and you can always update them. I will have to update this post. Thanks for bringing it to my attention.

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