One Soho Square: Office Space for Lease

The one floor available right now

A single space sits on our book at One Soho Square, the largest office floor we represent anywhere in SoHo and bigger than the next by more than 20,000 square feet.

• Partial 2nd Floor, 27,344 square feet, asking $68 per square foot per year. That is $1,859,392 annually and roughly $154,949 a month before electricity, and it seats about 156 people at the 175 square feet per person we plan to, which leaves room for meeting rooms, phone booths and a pantry. A denser open plan takes 195; private offices bring it nearer 122.

Per seat that is about $993 a month at 156 desks, a number that travels between buildings better than a rent per foot does. The floor carries terrace access, conference facilities and hardwood floors, and we hold our own photography of it. We have no floor plan for this space, so a test fit is the first thing we would commission.

What $68 means against the market

SoHo asks more than the rest of our book. The nine floors we represent here run $68 to $125 per square foot per year, median $98, against the $75 citywide median across our availability, about 31% above the city. Against the SoHo median, $68 is 31% cheap. Against the citywide number, it is roughly 9% cheap as well.

Neither reading is the point, because size is doing the work. Large contiguous blocks price at a per-foot discount everywhere in Manhattan, since few tenants can absorb 27,344 square feet on one signature. The lowest per-foot number in SoHo on our book belongs to the biggest floor by a distance, this one at $68, while the next largest floor, 7,300 square feet at 50 Greene Street, asks $98. The boutique floors a 20 to 40 person company would shortlist read $78, $85, $95, $98, $110, $120 and $125.

Our honest read is that $68 prices at market for a floor of this scale, and looks cheap only against space a tenant this size could not use. The discount is compensation for a commitment most companies cannot make.

The submarket around the building

The transit answer for SoHo is the N/Q/R/W, 6, A/C/E and B/D/F/M, which is why hiring here rarely stalls on the commute. How long that walk takes from your side of town is a question a tour answers better than a listing does.

Companies that choose SoHo are usually brand-led, fashion and design and consumer businesses that treat the address as part of the pitch, joined lately by AI startups whose founders live downtown. What the neighborhood almost never gives them is scale. The landmarked cast-iron loft is quirky, often long and narrow with windows at both ends, and usually small, so a company of two hundred that wants the downtown story normally leaves to get it. One Soho Square is the answer to that, two historic loft buildings combined with a modern glass tower, 27,344 square feet of premier Class A space on one floor.

Elsewhere in the submarket our book also holds 50 Greene Street 7,300 square feet, 540 Broadway at 6,350, 520 Broadway at 5,539, 60 Charlton Street at 5,003, 6 Greene Street at 4,900 and 110 Greene Street at 3,750. Nothing else here comes close on size, and a team needing more than this floor is off our SoHo book, which points a search toward NoHo, Hudson Square or Tribeca.

How to evaluate the floor, and what really sets the cost

An hour on the floor earns its keep only if it settles what the listing cannot. This is a partial floor, so establish who else sits on the level and where the demising line falls. Time the elevators in the morning window; a few hundred people arriving inside a half hour is a load worth understanding before signing. Ask how the terrace is allocated, what after-hours air costs, and whether this is direct space or a sublease.

Treat 27,344 as a rentable figure rather than a floor you can furnish. Loss factors in Manhattan typically run 15-25%, so the usable area behind it lands near 20,500 to 23,200 square feet once core, corridors and restrooms come out. At this scale the gap between an optimistic desk count and a real one is an entire department.

Base rent covers occupancy and, in most Manhattan leases, cleaning of the office areas. Electricity is billed separately, typically $2 to $4 per square foot per year, another $4,600 to $9,100 a month here, with internet, insurance, overtime HVAC and the tax and operating escalations on top.

Blended rent decides real cost. An unnegotiated 3% escalation turns $68 into roughly $77 by year five and averages near $72 over five years, while six months free on a ten-year deal takes about 5% back off. The improvement allowance, the free rent, the escalation cap and the form of security each move more money than any argument over the per-foot number.

How Nomad works on this floor

We represent tenants and never landlords, so there is no version of this where we sit on both sides of the table. We publish the rent, the size and the approximate monthly openly, because a number withheld is usually a number about to be marked up.

Touring is straightforward: we can generally put you on the Partial 2nd Floor inside the same week, and we will walk the SoHo comparables on the same trip so the $68 gets judged against something. Having delivered 300+ office buildouts across New York, we answer construction questions with the team that negotiates the lease.