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The Evolution of NoHo

Agent Insight // Sep 30, 2014

tumblr_lbzm48Zfhh1qdxummo1_1280Image courtesy of Flickr

NoHo, the once gritty area just North of Houston Street, has become home to some of the city’s most sought-after real estate. An established historic district, NoHo offers residents a vibrant lifestyle that is both funky and chic, with a number of restaurants and high-end shops throughout the small neighborhood.

NoHo extends north from Houston Street to East 9th Street, and east from Broadway and Mercer Street to Lafayette Street and the west side of Cooper Square. The historic district includes approximately 125 buildings, representing the history of Manhattan’s early commercial industry from around 1850 to 1910, when the area prospered as one of the nation’s major retail and wholesale dry goods centers. Many of these buildings have been converted for residential use, and block-by-block, more buildings are either being converted or new ones are rising that blend in with the surrounding architecture.

The popular enclave Bond Street showcases unique architectural design, particularly after its resurgence in 2007. Bond Street extends from Broadway to the West and terminates at Cooper Square to the East. The tiny street now commands the most desirable real estate in the NoHo area and has become a gallery for starchitects to show off their work. Slated for construction along that corridor are Good Property‘s 31 Bond Street and BKSK’s 25 Bond Street.The neighborhood’s earliest developments include Ian Schrager and Herzog & de Meuron’s 40 Bond Street, whose façade was designed to look like a glitzy cast iron loft building, and Deborah Berke’s minimalistic 48 Bond Street.

Currently undergoing construction is Selldorf Architects’ 10 Bond Street, which received praise from the city’s Landmark Preservation Commission for their design, while keeping the traditional industrial look that defines NoHo. The average price-per-square-foot is $2,600 at this seven-story, 11-unit condominium, composed of a mix of two- and three-bedroom homes. Not too far away is The Schumacher, a conversion of a stunning, historic Queen Anne Victorian and Romanesque Revival-style building. The interior still features some of the structure’s original details, such as barrel-vaulted brick ceilings that are 15 feet in height. The average price-per-square-foot is $2,752 and is composed of 20 two- to four-bedroom homes.

With a storied commercial and industrial history, NoHo continues to thrive as a quiet residential neighborhood that commands prices not far off from surrounding popular areas such as SoHo, Nolita and Greenwich Village.