NEW YORK – Jan. 12, 2017 – On behalf of 460 Broome Street Investors, LLC, Cushman & Wakefield’s James Nelson and Robert Burton have sold an 11,000-square-foot boutique commercial loft building at 460 Broome Street in Manhattan’s SoHo Historic District. The all-cash transaction was valued at $17,340,000 or $1,576 per square foot. The property was simultaneously being marketed for lease by Cushman & Wakefield’s Joanne Podell.
“We implemented a dual for sale and for lease campaign for our client to put all options on the table. We received strong interest for both,” said James Nelson.
Constructed in 1920, the elevator-serviced building is comprised of 2,500 square feet of prime retail, including a full basement, with 8,500 square feet of commercial space above. The property sits within a 25’ by 100’ lot, possesses an M1-5A zoning designation and offers 1,500 buildable square feet of remaining air rights.
460 Broome is conveniently situated between Greene and Mercer Streets and is accessible via the 6 train line at the Spring Street station and the R and W train lines at Prince Street station.
“There was a great deal of interest in this gem in the heart of SoHo. We worked closely with ownership to accomplish this sale to meet their very specific time constraints,” said Robert Burton.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit or follow @CushWake on Twitter.