NOT LISTED FOR SALE

388 W Broadway Unit 2 New York, NY 10012

SoHo Neighborhood

Estimated Value: $4,639,000 - $6,799,000

3 Beds
2.5 Baths
2,948 Sq Ft
$3,588/mo HOA Fee

Last Sold September 05, 2024

Last sale price $5,800,000 $1,967 Per Sq Ft

Est. 1% increase in value since last sale

Current estimated payment $39,507/month

228 Days on Market

Highlights

  • 1 Fireplace
  • 3-minute walk to Spring Street (A,C,E Line)
  • 2-minute walk to Vesuvio Playground
  • P.S. 3 Charrette School Rated A
  • No Heating

About This Home

As of September 2024

Welcome to 388 West Broadway, a rare gem in the heart of Soho's Historic Cast-Iron district. This boutique condominium boasts a premier location and stunning East-facing views of the bustling West Broadway. With only four luxury private residences, this architecturally significant building offers a unique opportunity to live in one of the most coveted areas of New York City.

Upon entering this beautifully renovated home through a private keyed elevator, you'll be greeted by the perfect blend of grandeur and originality. The stately gallery reveals soaring 11-foot ceilings, and the expansive living and dining area features a wood-burning fireplace, original wood beams, charming cast-iron columns, and solid wood floors. Natural light floods the space through a bank of eight mahogany-trimmed windows spanning over 40 feet of West Broadway frontage, offering breathtaking views of Soho.

The chef's kitchen is a dream with maple cabinetry and granite countertops, wine storage, refrigerated drawers, a Thermador six-burner gas cooktop/oven with a warming drawer, a SubZero refrigerator, and a Bosch dishwasher.

Connected by the entry gallery, the west wing features three light-filled bedrooms and two and a half bathrooms. The oversized primary bedroom offers complete privacy, soaring ceilings, large-scale windows, and a delightful custom-built dressing area, and an impressive spa-like en suite bathroom featuring Waterworks tile and fixtures, a marble vanity, deep soaking tub, and separate steam shower. The generously sized second bedroom has its own en-suite Waterworks bathroom and customized walk-in closet.

Seamlessly incorporated into the original details are state-of-the-art systems such as a home theater projector, sound system, home automation, museum-quality lighting, and multi-zone heating & cooling.

A powder room, separate laundry room with a side-by-side washer and dryer, recessed lighting throughout, and a large deeded storage room complete this wonderful downtown home.

Residents of 388 West Broadway enjoy world-renowned dining, shopping, and art galleries in any direction from the building. But what sets this building apart are the East-facing views of West Broadway, offering residents an unparalleled opportunity to experience the energy and excitement of Soho right from their own home. Don't miss out on this exceptional opportunity to live in one of the most sought-after locations in New York City

Last Agent to Sell the Property

Justin Edelstein

Compass License #10401269713 Listed on: 04/10/2023

Compass

Co-Listed By

Ryan Garson

Compass License #10301216575

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $48,096

Year Built

  • Built in 1920

HOA Fees

  • $3,588 Monthly HOA Fees

Home Design

  • Entry on the 1st floor

Interior Spaces

  • 2,948 Sq Ft Home
  • 1 Fireplace

Bedrooms and Bathrooms

  • 3 Bedrooms

Laundry

  • Laundry in unit
  • Washer

Utilities

  • No Cooling
  • No Heating

Listing and Financial Details

  • Legal Lot and Block 1102 / 00488

Community Details

Overview

  • 4 Units
  • Soho Subdivision
  • 5-Story Property

Amenities

  • Laundry Facilities

Property Details

Home Type

Condominium

Est. Annual Taxes

$48,096

Year Built

Built in 1920

Lot Details

0

HOA Fees

$3,588 per month

Listing Details

  • Property SubType: Apartment
  • Property Type: Residential
  • Neighborhood: SoHo
  • Architectural Style: Loft
  • Entry Level: 1
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 5

Interior Features

  • Appliances: Washer
  • Fireplace Features: Other
  • Fireplaces: 1
  • Fireplace: Yes
  • Living Area: 2948.0
  • Living Area Units: Square Feet

Beds/Baths

  • Full Bathrooms: 2
  • Half Bathrooms: 1
  • Bathrooms Integer: 3
  • Bedrooms: 3

Garage/Parking

  • Garage: No
  • Attached Garage: No

Utilities

  • Laundry Features: Common On Floor, Common Area, In Unit
  • Cooling: No
  • Heating: No

Condo/Co-op/Association

  • Common Charge/Maintenance Fee: 3588.0
  • Common Charge/Maintenance Fee Frequency: Monthly
  • Common Interest: Condominium

Lot Info

  • Lot Size Units: Square Feet
  • Lot Size Dimensions: 50.580000x69.000000

Building Info

  • New Construction: No
  • Units: 4
  • Total Stories: 5
  • Year Built: 1920

Rental Info

  • Furnished: Unfurnished

Tax Info

  • Tax Block: 00488
  • Tax Lot: 1102
  • Tax Annual: 48096.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 10, 2023
Closed on
Sep 5, 2024
Sold by
Mumtaz Fahd and Vairale-Mumtaz Kiran
Bought by
Schuster Jessica
Seller's Agent
Justin Edelstein
Compass
List Price
$6,500,000
Sold Price
$5,800,000
Premium/Discount to List
-$700,000
-10.77%
Views
36
Current Estimated Value
$5,865,001

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$65,001
Avg. Annual Appreciation
0.90%
Original Mortgage
$2,500,000
Outstanding Balance
$2,468,619
Interest Rate
6.73%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$3,396,382

Purchase Details

Listed on
Feb 7, 2022
Closed on
Nov 21, 2022
Sold by
Harel-Cohen Jonathan
Bought by
Mumtaz Fahd and Vairale-Mumtaz Kiran
Seller's Agent
Joanna Pashby
Brown Harris Stevens Residential Sales LLC
List Price
$7,995,000
Sold Price
$6,000,000
Premium/Discount to List
-$1,995,000
-24.95%
Views
1

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-1.88%
Original Mortgage
$4,200,000
Interest Rate
6.95%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Dec 23, 2020
Sold by
Cohen Ronald and Harel-Cohen Sharon
Bought by
Harel-Cohen Jonathan

Purchase Details

Closed on
Jun 20, 2007
Sold by
Vinis Holding Corp and Propp Lubell
Bought by
Cohen Ronald and Cohen Sharon Harel

Purchase Details

Closed on
Apr 8, 2003
Sold by
388 West Broadway Llc
Bought by
Vinis Holding Corp
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Schuster Jessica $5,800,000 --
Mumtaz Fahd $6,000,000 --
Mumtaz Fahd $6,000,000 --
Harel-Cohen Jonathan $5,500,000 --
Harel-Cohen Jonathan $5,500,000 --
Cohen Ronald $5,000,000 --
Cohen Ronald $5,000,000 --
Vinis Holding Corp $7,840,875 --
Vinis Holding Corp $7,840,875 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Schuster Jessica $2,500,000
Previous Owner Mumtaz Fahd $4,200,000
Closed Vinis Holding Corp $0
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
09/05/2024 09/05/24 Sold $5,800,000 -2.5% $1,967 / Sq Ft
06/11/2024 06/11/24 Pending -- -- --
03/08/2024 03/08/24 Price Changed $5,950,000 -8.5% $2,018 / Sq Ft
10/26/2023 10/26/23 For Sale $6,500,000 +8.3% $2,205 / Sq Ft
11/21/2022 11/21/22 Sold $6,000,000 0.0% $2,035 / Sq Ft View Prior Sale
09/20/2022 09/20/22 Pending -- -- --
07/19/2022 07/19/22 Off Market $6,000,000 -- --
05/03/2022 05/03/22 Price Changed $6,950,000 -13.1% $2,358 / Sq Ft
02/07/2022 02/07/22 For Sale $7,995,000 -- $2,712 / Sq Ft
Source: Real Estate Board of New York (REBNY)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $61,908 $511,021 $40,044 $470,977
2024 $61,908 $495,182 $64,438 $464,139
2023 $56,244 $458,502 $34,492 $424,010
2022 $51,942 $927,889 $64,438 $863,451
2021 $48,221 $1,091,587 $64,438 $1,027,149
2020 $40,450 $1,059,812 $64,438 $995,374
2019 $39,633 $883,147 $64,438 $818,709
2018 $44,859 $352,694 $30,881 $321,813
2017 $41,536 $326,569 $32,336 $294,233
2016 $38,983 $302,379 $33,021 $269,358
2015 $24,322 $279,981 $64,438 $215,543
2014 $24,322 $277,520 $64,437 $213,083
Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
  • Section Image
See All Agents

Map

Source: Real Estate Board of New York (REBNY)

MLS Number: RLS10968297

Real Estate Board of New York (REBNY)

APN: 0488-1102