$37.8M 5-Story Building in Soho Is This Week’s Most Expensive New Listing

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An entire building in the Soho neighborhood of Manhattan, on the market for $37.8 million, is this week’s most expensive new listing on realtor.com®.

For the multimillion-dollar price tag, a presumably wealthy buyer will acquire three full-floor units, plus a grand triplex penthouse. All units are currently set up as luxury residential income-producing properties. There’s also commercial space on the ground floor to bring in even more income.

The entire 12,500-square-foot, five-story structure is billed as an investment opportunity for a deep-pocketed developer to snag “one of downtown’s finest privately held historic cast iron buildings in the heart of SoHo,” according to the listing.

Built in 1872, the building was designed by architect J.B. Snook in a classical style with a cast-iron facade and storefront, and has been landmarked.

Preservationist and architect Joseph Pell Lombardi completed a conservation of the exterior, and added a rooftop penthouse, as well as converted the building to residential lofts on the upper floors.

“The property has been kept completely up to date while maintaining that history,” says listing agent Robin L. Rothman.

According to Rothman, the building had been offices until it was purchased by the current owner and converted into residential units in 1999. It has been occupied since then, but can be delivered vacant if the buyer prefers, she notes.

Triplex penthouse

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Rooftop terrace

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Each of the four residential units has a new kitchen.

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Each of the residential units comes with a private elevator entrance, oversize living spaces, high ceilings, huge windows, and a wood-burning fireplace. The units include hardwood floors, new kitchens and bathrooms, laundry units, and storage. The three apartments all measure in at 2,200 square feet,  and each comes with two beds and two baths.

The penthouse triplex is a luxurious affair featuring five bedrooms, double-height ceilings, hardwood floors, enormous windows, and two rooftop terraces.

The commercial space on the bottom floor is a currently a blank canvas ready for business. It measures 2,225 square feet and boasts high ceilings, a full basement, full bathroom, and garage next door.

The residential and commercial spaces can be purchased separately: The four residential units can go for $24.9 million, and the commercial space is $12.9 million. Either way, this week’s priciest property is quite a deal for an investor looking to score a sweet spot in Soho.

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