177 Spring Street · SoHo Mixed-Use Building

7,545 SF · Price Upon Request

Prime SoHo investment opportunity featuring ground floor retail and eight residential loft apartments in the heart of the Cast Iron District. Delivered with significant vacancy for immediate value creation.

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Building Exterior

Property Description

This sale by owner offering is being marketed through a bidding process with no price guidance, and presents a rare chance to acquire a high potential mixed use property in a premier SoHo location. Positioned on Spring Street between Thompson Street and West Broadway, the building benefits from excellent visibility, consistent foot traffic, and 25 feet of frontage along one of the neighborhood’s most established retail corridors. The five story loft property contains approximately 7,545 gross square feet behind a classic 19th century façade that reflects the architectural character that defines SoHo. No phone calls. Email inquiries only. Proof of funds will be requested.

The property includes a ground floor retail space and eight residential apartments above. This is the only occupied asset within the broader portfolio. It will be delivered with substantial vacancy, creating immediate flexibility for an investor, developer, or owner occupant. The ground floor retail space at 177 Spring Street is currently occupied by a pizzeria operating on a month-to-month basis, with no rental guidance provided. Additionally, the retail space at 88 Thompson Street can be delivered vacant within one year if required. Five of the eight residential units are rent stabilized, gutted, and vacant, allowing for renovation, reconfiguration, or conversion without the delays of tenant turnover. The three occupied residential units are rent stabilized and generate a total of $2,391.72 per month, providing baseline income while a broader asset plan is implemented. Tenant names will not be disclosed.

The M1-5B zoning and a maximum FAR of 5.0 create meaningful long term optionality. The building is well suited for multiple strategies, including a boutique condominium conversion, a premium single family residence, or an upgraded rental property with significant upside. The location places the asset within one of Manhattan’s most sought after districts, surrounded by world class retail, acclaimed restaurants, and high end hospitality such as The Dominick, Ladurée, and the established shopping corridors of West Broadway and Prince Street. All information is provided for marketing purposes only and must be independently verified by the buyer. The property is being sold as-is, where-is. Caveat emptor applies.

Frequently Asked Questions

  • The property will be delivered with significant vacancy. The ground floor retail space is vacant, and five of the eight residential apartments are also vacant. Three residential units are tenant occupied and generate approximately $2,000 per month each.

  • Full vacancy can be discussed, but the current offering includes three occupied residential units. Buyers can evaluate buyout strategies or operate with existing baseline income while repositioning the vacant portions.

  • The building is located in an M1-5B zoning district, which allows for a wide range of commercial, community facility, and limited residential uses subject to applicable regulations.

  • Yes. The combination of M1-5B zoning, current building size, and allowable FAR may provide future upside. Buyers should perform their own zoning and air rights analysis to confirm specific possibilities.

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Exterior Photo

 

Location

Positioned on Spring Street between Thompson Street and West Broadway in SoHo, the property sits within one of Manhattan’s most recognizable and enduring retail and residential corridors. The block benefits from constant foot traffic, strong tourism presence, and immediate access to multiple subway lines. The address provides direct connectivity to the C, E, 1, A, B, D, F, M, and R trains, making it convenient from every direction in the city. The location places the building at the intersection of established neighborhood demand and long term real estate stability.

Neighbors

177 Spring Street is surrounded by a mix of flagship retail, acclaimed restaurants, and high end hospitality that define the SoHo market. Nearby destinations include The Dominick Hotel, Ladurée, Balthazar, Dominique Ansel Bakery, and the core shopping corridors of West Broadway and Prince Street. The immediate area hosts global fashion brands, design showrooms, galleries, and creative office users, creating a balanced day and evening population. The property sits within walking distance of Hudson Square, Tribeca, and Nolita, reinforcing its appeal to both commercial and residential users.