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A blog from CityRealty (Links below will take you to the 6sqft site)

16 Crosby Street, #2RN

$5,795,000 ($2,415 per ft2) | 3 beds, 3 baths | Approx. 2,400 ft2
19 days on Market

Key Details

  • Listed Feb 12, 2021
    Days on Market 19
    Building Type Cooperative
    Neighborhood SoHo
  • Monthly Maintenance $900



FREE MAINTENANCE MOST YEARS! Welcome to 16 Crosby, 2RN. The moment you enter this beautiful loft that has been gut renovated, you are struck by its stunning details – 14' tin ceilings, 10' east-facing windows, 14' steel and glass doors, original cast iron columns, massive surfaces perfect for large-scale art, as well as over 3000 sq ft of actual living space, including the mezzanine loft and three storage rooms.

What makes 16 Crosby so unique, aside from its drop-dead gorgeous design, is that shareholders jointly own three high-end retail spaces that generate substantial income. As a 7.5% owner in the commercial spaces, 2RN has paid zero monthly maintenance/tax payments in some years plus received a dividend ranging from $10,000 to $30,000. In other years, there have been no monthly maintenance payments.

During the pandemic, the co-op has retained its tenants but, as a result of temporary rental subsidies, there has been a monthly maintenance charge of only $900. When commercial rental rates return to normal, the low maintenance will translate to an approximate savings of $5,000/month plus the potential for an annual dividend up to $30,000. In addition, the retail income allows the co-op to supply heat, high-speed internet, cable TV, and a landline telephone at no charge to shareholders.

When all the financial perks of ownership in the commercial spaces are combined, the shareholder interest in normal years covers a monthly payment of more than a $1.2M mortgage at today’s rates -- thus representing more than $1M in added value to this home. The centerpiece of this expansive loft is its enormous 27x28-foot living room which is ideal for entertaining and features 3 beautifully designed bedrooms, 2.5 baths, gorgeous hardwood floors and, for quiet moments with a good book, a cozy, 125 sq ft mezzanine space. The immense windows bathe the loft in natural light while overlooking quiet, cobblestoned Crosby Street, one of the most coveted in SoHo.

The sleek, open Chef’s kitchen with breakfast bar boasts Italian finishes and is outfitted with top-of-the-line Sub-Zero and Miele appliances. Opposite the designer kitchen is a beautiful built-in banquette, ideal for breakfast or an intimate family dinner. There is a gallery with additional built-ins – for a coffee bar, spirits or books – along with a 50-bottle Sub-Zero wine fridge.

Through large steel and glass French doors, enter the spacious primary suite with floor-to-ceiling shelving, a writing table and custom walk-in closets -- including a spectacular dressing room. The spa-like en-suite bathroom features a deep soaking tub, walk-in shower, contemporary chandelier, Robern dual vanities and a Kohler smart commode. Bathrooms are accented with exquisite Kelly Wearstler tiles and Kallista fixtures – all of which perfectly round out the sophisticated design.

The home also features clerestory windows that filter light throughout the entire loft. Residence 2RN has a luxurious second bedroom that also provides easy access to the glass-enclosed mezzanine space with two additional storage rooms. The steel and glass-enclosed media room serves as a third bedroom, den or home office.

Similar to the primary suite, this room is equipped with automated curtains for privacy and a built-in Murphy bed that seamlessly fades into the room’s fabulous design. This home is wired with a number of home automation and creature comfort features. Five separate heating/cooling zones are easily controlled by in-room thermostats.

A Lutron system controls all lighting, custom automated shades and curtains. Built-in speakers provide high fidelity sound in every room. The loft transfers with an enormous, 340-square foot downstairs storage room that could easily double as a home gym.

It is fitted with a 300-bottle wine fridge, a full-size refrigerator, and its own fresh air ventilation system as well as internet and cable TV. 16 Crosby has a full-service virtual doorman and “buzz-in” video concierge system which can be controlled remotely by your smart device – for maximum security and easy management of packages. Other amenities include cold-storage and a dry-cleaning closet.

The building has a newly-refinished elevator, sleek lobby and hallways. Located in SoHo’s historic Cast-Iron district, 16 Crosby Street was originally built in 1877 as a factory and converted to a cooperative residential loft building in 1980. At the heart of where SoHo, TriBeCa, Little Italy and NoLita meet, this boutique co-op is close to superb shopping (Bloomingdale’s, Aether, agnès b., Rick Owens, Roman and Williams Guild, CB2, Industry West), world-class dining (La Mercerie, Balthazar, Le Coucou) and so much more. LLC purchases and pets allowed, and subletting is on a case-by-case basis.

This modern masterpiece must be seen to be fully appreciated.

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Apartment Amenities

  • City View
  • Washer/Dryer in apt.

Pricing History

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Estimated Monthly Cost

About 16 Crosby Street

  • Co-op
  • Built in 1900
  • 25 Apartments
  • 5 Floors

Building Amenities

  • Pre War
  • Intercom
  • Elevator

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About this Building

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Listing provided courtesy of The Corcoran Group