SoHo, NY Homes for Sale

SoHo, NY Housing Market

Last month, the median sale price of a home in SoHo stood at $2.1 million, reflecting a significant 34.9% decline compared to the previous year. Meanwhile, the median price per square foot dropped to $1,800, marking a 6.7% decrease year over year. This decline suggests a cooling market, potentially influenced by shifting buyer demand, broader economic trends, or increased inventory in the area.

SoHo is the world’s largest collection of cast-iron buildings, many dating back to the 19th century. These landmarked facades are both an asset and a liability: they offer historic cachet, dramatic window bays, and resale appeal, but also require constant upkeep under the Landmarks Preservation Commission. Cast-iron repair, painting, and cornice restoration are highly specialized and expensive. Any buyer should review prior facade projects, upcoming Local Law 11 cycles, and whether the building has reserve funds earmarked for cast-iron maintenance.

Many SoHo lofts fall under Joint Live-Work Quarters for Artists (JLWQA) zoning rules. Legally, some units are still restricted to certified artists or require a Certificate of Occupancy upgrade to regular residential use. Even when non-enforced in practice, this can impact financing, resale, and renovation permits. Buyers should confirm the exact zoning classification, the unit’s Certificate of Occupancy, and whether the building has converted to legal residential status. This legacy is unique to SoHo’s industrial-to-residential evolution.

Unlike purely residential neighborhoods, SoHo is globally recognized as a retail hub with luxury flagships, galleries, and design showrooms. Owning property here means accepting higher foot traffic, delivery activity, and evening street presence, especially near Broadway and Prince. Conversely, side streets offer quieter loft living with boutique character. Buyers should weigh the trade-off between being steps from cultural energy versus managing noise, crowds, and event traffic during weekends and holidays.

SoHo’s historic Belgian block streets define its charm but affect day-to-day convenience. Cobblestones can increase street noise, limit stroller/bike comfort, and affect vehicle wear. Deliveries, moving vans, and Ubers may struggle with parking regulations on narrow blocks. At the same time, the neighborhood has excellent subway connectivity (multiple lines within a few blocks), but limited on-site parking. Buyers should balance the appeal of picturesque blocks with practical considerations of transport, access, and mobility.

SoHo lofts often occupy entire floors or half-floors with minimal internal walls. This open format provides volume and creative potential but often requires custom build-outs for bedrooms or offices. Natural light varies sharply: north-south streets can feel dim due to tall neighboring buildings, while east-west streets (especially those with corner exposures) capture abundant light. Ceiling heights, column placements, and window depth all impact how usable and bright a loft will feel—critical in SoHo’s deep, warehouse-style floor plates.

Unlike Tribeca, SoHo still has a significant number of co-ops, many in smaller buildings with limited services. Rules on alterations, financing, and subletting can be stricter, and monthly maintenance charges may fluctuate based on building scale. Condos tend to be in newer conversions or purpose-built projects, offering more flexible ownership but at premium pricing. Buyers must understand how building type influences both lifestyle (staffing, amenities) and investment (liquidity, appreciation).

SoHo, NYC Guide

SoHo is more than just a neighborhood—it's a lifestyle. From its iconic cast-iron architecture to its world-class dining, shopping, and cultural experiences, this vibrant district offers something for everyone. Whether you're looking to buy a home or simply explore what makes SoHo unique, our in-depth neighborhood guide has everything you need. Start browsing now and uncover the best of SoHo!