This Soho property once powered the Big Apple’s first subway — and it can be yours for $22 million.
The turn-of-the-century building, at 175 Spring St. between Thompson Street and West Broadway, comes with a 46½-foot-wide facade and can be converted to single-family mansion status, say listing brokers Zach Redding, Peter Nicoletti and Dylan Kane of Colliers.
At 13,815 square feet, the building features 38-foot-high ceilings on the ground floor and comes with an additional 21,980 square feet of development rights, along with a coveted curb cut and noteworthy design details like structural beams and barrel ceilings.
“The building has unique characteristics, from its crazy-high ceilings on the ground floor and cool structural beams, to floors that hold significantly more weight. Power plants usually aren’t the prettiest, but [the builders] went out of their way to make the facade spectacular because it’s in Soho,” Redding said, adding that the L-shaped property could also allow for private condo or townhouse entrances on Thompson Street.
The property was built in 1901 and operated as the first power station for the subway until 1963. It then became the Gem Lumber Company and the Metropolitan Lumber and Hardware store. The style of the building is Romanesque Revival, with a base made of rough-cut stone blocks and three stories above it made of brick.
The seller is Extell Development and several partners who bought the building as part of a portfolio of five properties.
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