SoHo and Hudson Square have it all: parks and piers, galleries and shops, restaurants galore, plenty of transportation options. And their active real estate market reflects that. During the first half of 2022, 126 sales closed. The plurality of them—43%—were priced between $3 million and $8 million; another 40% closed at $1 million-$3 million.
Of those sales, 70 were in SoHo. The majority of the SoHo sales, 56%, were priced at $3 million-$8 million; nearly a quarter (23%) fell into the $1 million-$3 million range, and 14% closed at less than $1 million.
The RLS reports that as of June 2022, 137 listings were on the market in the SoHo/Hudson areas. Half of these were priced at $3 million-$8 million, 19% at $1 million-$3 million, and 11% at $8 million-$12 million. Ten percent were priced at more than $12 million, and nearly as many (9%) were available for less than $1 million.
Nearly 60% of those active listings, 80 in all, were in SoHo. Ten percent of the SoHo properties were priced at under $1 million, while 15% cost more than $12 million; another 15% were in the $8 million-$12 million range. Properties priced at $3 million-$8 million accounted for 49% of the SoHo listings, with those in the $1 million-$3 million range making up 11%.
While SoHo has greater name recognition than Hudson Square, the latter offered greater diversity in properties for sale. No townhouses in SoHo were listed as of June 2022; those were all in Hudson Square, which encompasses the Charlton-King-Vandam Historic District of 19th-century rowhomes.
SoHo far outnumbered Hudson Square when it came to the number of rentals on the market as of June 2022, with 61 listings compared with 16. Of the 77 listings in the combined area, 17% were studios, with a median price of $4,000/month. Thirty percent were one-bedroom units, with a median price of $5,500/month, and another 31% were two-bedrooms, with a median price of $13,500/month. Three-bedroom rentals accounted for 17% of the listings, with a median price of $17,995/month, and units with four or more bedrooms made up 5% of the listings, with a median price of $42,500/month.
More than half—52%—of the rental listings in SoHo and Hudson Square were priced at more than $9,000/month, with just 1% less than $2,500/month.
The median price for co-op rentals was $6,375/month, compared with $15,000/month for condo rentals and $30,500/month for townhouse rentals.
Data Source: Perchwell