| SoHo is one of New York’s most famous neighborhoods. Its name is an acronym for “South of Houston,” since Houston Street forms the neighborhood’s northern boundary. SoHo is located south of Greenwich Village, north of TriBeCa and west of Little Italy.
The appeal of SoHo real estate comes from a combination of many factors: the historic wrought-iron buildings and immense brick warehouses (lately converted into spectacular SoHo lofts); the neighborhood’s fashionable shops, exquisite restaurants, cutting-edge nightclubs, and upscale galleries; and its perfect location south of Greenwich Village and close to all the major subway lines all combine to make this an ideal home base for many of New York City’s most affluent, famous, and fashionable residents.
SoHo has a reputation as an artsy, bohemian neighborhood, but that stereotype no longer holds true. While there are still a number of artists, musicians, and actors residing in SoHo lofts or condos, many have been forced to move on due to ever-increasing rents and high demand for SoHo real estate, and white-glove service has become the norm in many buildings. Today, rental rates and purchase prices for SoHo real estate are among the highest in New York City, and demand is unwavering – a lucky factor for anyone thinking of selling SoHo real estate.
SoHo Lofts
Though SoHo was largely a commercial area for a good portion of the 20th century, in the 1970s and 1980s local artists spearheaded a push to renovate abandoned manufactories and warehouses into live/work loft spaces. During the last decade or so, however, real estate prices rose sharply as the area was “discovered,” and SoHo lofts have become a hot commodity among the Downtown elite. Models, celebrities, and entrepreneurs mingle with artists and musicians at Coho’s exclusive shops and restaurants. The neighborhood claims to be one of the safest in New York City.
SoHo lofts are perfect for entertaining; their wide-open floor plans and generous natural light – not to mention incredible views – provide endless interior design possibilities, and plenty of square footage for entertaining guests. SoHo lofts also make wonderful residences for collectors, who will love the space available to display their treasures.
SoHo lofts are extremely popular among buyers, and sellers usually have no trouble finding interested parties. However, most SoHo listing agents will still advise at least minimal home staging, to ensure that the property is presented as perfectly as possible. Buyers considering SoHo lofts aren’t just looking for a place lo live, they’re looking to create a lifestyle, and it’s important that they are able to envision themselves – and their belongings – in the property (read more about home staging below). Also, if you have put out excessive partitions or partial walls in your SoHo loft, you may consider removing some or all of them; this will open up the space and make your loft appear larger.
SoHo Luxury Condos
When SoHo first began its transition from a manufacturing district to a luxury residential real estate destination, lofts were the first properties to emerge, coaxed out of dilapidated old warehouses by artists seeking live/work spaces. Today, SoHo luxury real estate is among the most desirable in all of Manhattan. SoHo luxury condos, including five-star luxury loft condos, attract New York City’s elite in droves.
While much of SoHo’s luxury real estate is located in historic buildings – many of which were built well before World War I – there have been some new developments completed in recent years, including SoHo luxury high-rise condos in the southern part of the neighborhood, on the boundary of TriBeCa. Luxury is raised to a new standard in these SoHo luxury condos, and these properties offer the finest modern amenities and design, incredible community perks, and, of course, the prestigious SoHo address.
If you’re looking to purchase SoHo luxury real estate, you might consider purchasing a new SoHo luxury condo while it is still in the pre-construction phase. This allows you to work with the contractors to personalize your new SoHo luxury condo while it’s being built, and also to lay claim to the property before other hungry buyers snap it up. If you’re interested in new construction SoHo luxury real estate, contact a SoHo listing agent; a professional Realtor will be able to advise you on the purchase of properties in new construction developments, and alert you when properties that suit your criteria are made available for purchase.
Working with Your SoHo Listing Agent
When you’re ready to list your SoHo real estate, your first step should be to hire a professional, reputable SoHo seller’s agent. While many people have had success selling their SoHo luxury real estate on their own, far more are left to flounder in the seas of paperwork and legal forms that accompany the sale of property. A SoHo listing agent is a wonderful resource who can help relieve the stress of the sale process, while at the same time providing resources which the seller would not have had access to on their own.
When a SoHo seller’s agent – or listing agent, as they are often called – takes on a client, they assume a fiduciary responsibility to negotiate the best possible transaction terms for their client. This means that a SoHo seller’s agent will work hard on your behalf to get you the best possible sale price for your SoHo loft or SoHo luxury condo. They will also advise you on such issues as the current and projected market values of your property, pricing strategies by area and length of listing time, and the current attitude of buyers. A SoHo seller’s agent will also market your property to targeted and general audiences, likely in several mediums including internet and print advertisements, and will advise you on current interior design trends and home staging techniques which may make your SoHo real estate even more appealing to potential buyers.
A reputable, professional SoHo listing agent is your best asset when you’re selling your SoHo luxury condo or SoHo loft. While SoHo real estate – especially SoHo luxury real estate – is in high demand, it can be easy for a single property to get lost among the sea of other listings. At the Sellers’ Realty Group, we have the knowledge and the resources to ensure that your SoHo luxury real estate gets the attention it deserves from potential buyers. We’ll work with you from the initial listing phase to the closing and beyond, to make sure that your SoHo real estate sale goes smoothly. If you’d like to speak to one of our expert SoHo seller’s agents, please call the Seller’s Realty Group at 609.799.4600 today.
Sell Faster with Home Staging
When you decide to sell your SoHo loft or SoHo luxury condo, marketing is key. Working with a SoHo listing agent is a great way to ensure that your SoHo real estate is getting the exposure it deserves. During the listing process, your SoHo seller’s agent will want to take photos and gather details about your SoHo real estate in order to market the property more effectively. At the same time, your SoHo seller’s agent may speak with you about staging your home.
Home staging is a design technique used to highlight a property’s most desirable aspects, depersonalize the property, and make it easier for buyers to envision themselves living in the property. The bottom line: staged homes, condos, and lofts sell faster, and for more money, than non-staged properties. While SoHo luxury real estate usually sells quickly in any market, it is worth the effort for sellers to stage their properties in order to elevate the selling price. After all, how a potential buyer perceives your home is nearly as much a factor in selling price as current market value: the more desirable the property, the more they’re willing to pay for it.
If you’ve already vacated your SoHo loft, you may consider touching up or changing paint, tile, or carpets, to give the loft a fresh look. Renting furniture, draperies, and accessories to create the atmosphere of a “lived-in” space is also a wonderful idea. Very few buyers can visualize a property’s potential while looking at four empty walls – and that visualization is key, especially when you’re selling SoHo luxury real estate. Remember, you’re not only selling SoHo real estate: you’re selling a lifestyle, and one that potential buyers should relate to and envy. Furniture rental costs and home staging costs are almost always returned twofold (or more) when the property is sold.
If you’re still living in your SoHo luxury condo, the home staging process will be slightly different. Bright paint colors and/or damaged paint should be covered with a pleasing, neutral paint, or touched up. Carpets should be cleaned, and any damage to wood floors repaired. However, the most important part of home staging when the owner is still in residence is depersonalization. Family portraits, knickknacks, excessive decorations or accessories, and general clutter should be stored away, and care should be taken to make your SoHo luxury real estate as close to magazine-perfect as possible. Minimal accessories, pleasant lighting, and carefully placed furnishings all contribute to the image of your property’s potential. Ensure there are no personal items to detract from a potential buyer’s vision of themselves in the property, yet enough detail to fire their imaginations.
Your SoHo seller’s agent can speak with you in detail about home staging, and he or she can recommend any changes that should be made to your SoHo loft or SoHo luxury condo before listing photos are taken and showings are arranged. Your SoHo listing agent may recommend an appointment with a home staging professional or interior design service – or they may suggest only a few subtle alterations.
When you’re selling your SoHo luxury real estate, you’ll want to work with a professional, knowledgeable SoHo seller’s agent. At the Seller’s Realty Group, we’ve helped countless sellers in the New York and New Jersey areas sell their luxury real estate quickly and with minimal stress. Call 212-482-0000 for Manhattan or 718-937-7900 for Brooklyn and Queens today to speak with one of our expert SoHo listing agents.
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