What defines a SoHo loft?

SoHo lofts are characterized by cast-iron facade architecture, soaring ceiling heights (typically 11-14 feet), large industrial windows, and open floor plates. The neighborhood is a designated NYC landmark district. Conversions from former manufacturing buildings dominate; new development is rare and price-premium. Trophy SoHo addresses include 565 Broome, 30 Crosby, 565 Broome SoHo, and the Schumacher.

How much do Manhattan luxury condos cost?

Manhattan luxury condo pricing varies by sub-market and building tier. Entry trophy starts roughly $3M in established new development. Mid-luxury ($5-20M) covers branded residences (Waldorf Astoria, Aman New York, Mandarin Oriental Fifth Avenue) and most Hudson Yards / Upper East Side new development. Trophy ($20-100M+) is concentrated on Billionaires' Row, 220 Central Park South, and select Tribeca buildings. Pricing per square foot ranges $1,500 to $10,000+, with Central Park-fronting trophy at the top of the range.

What are common charges in a Manhattan condo?

Manhattan condos use the term 'common charges' (not HOA fees). Common charges fund building operations, staff, amenities, and reserves. They are billed separately from NYC real estate taxes, which may be partially reduced by 421-a or other tax abatement programs on specific buildings. Trophy Manhattan buildings typically run $6 to $10 per square foot per month in common charges plus $3 to $8 per square foot in real estate taxes (taxes vary materially with abatement status).

What is the New York Attorney General offering plan?

Every Manhattan condominium sale is governed by an offering plan filed with the New York Attorney General. The plan defines sponsor obligations, deposit escrow handling, building specifications, common-charge schedule, and buyer protections. No Manhattan condo sale closes outside the offering plan framework. Plan amendments are filed periodically and reviewed by buyer attorneys at contract.

What is mansion tax in Manhattan?

Mansion tax is a New York State transfer tax of 1% on residential property purchases above $1M, with graduated brackets above $2M for the buyer (1.25% above $2M, 1.5% above $3M, 2.25% above $5M, 3.25% above $10M, 3.5% above $15M, 3.75% above $20M, 3.9% above $25M). The tax is paid by the buyer at closing in addition to NYC and NYS transfer taxes.

Can foreigners buy Manhattan luxury condos?

Yes, no ownership restrictions for the vast majority of Manhattan condominiums. Foreign nationals can purchase with no visa or residency requirement. International buyers commonly acquire through an LLC for privacy and estate planning. Foreign buyers face FIRPTA withholding (15% of gross sale price for non-resident sellers) and need an ITIN for US tax filings. Several US banks offer foreign-national mortgage programs with 30% to 50% down. A US-based buyer-attorney for offering plan review is essential.

SoHo Lofts for Sale

Browse SoHo loft conversions, cast-iron landmark buildings, and Manhattan new development for sale. Sponsor inventory, resale, and off-market listings-$2M to $50M+. Updated 2026.

SoHo Lofts by the Numbers