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

SoHo

Tribeca

Harlem

Morningside Heights

Chelsea

Greenwich Village

Upper West Side

Clinton/Hells Kitchen

Battery Park City