The 7 Shocking Secrets Of 568 Broadway, NYC's Historic Prince Building: From Factory Floor To Financial Drama
Standing at the crossroads of history and hyper-modern commerce, 568 Broadway in New York City is far more than just a prestigious SoHo address. As of late December 2025, this iconic building—formally known as the Prince Building—continues to dominate the commercial real estate landscape, marked by a fascinating duality: a rich past as a manufacturing powerhouse and a present defined by high-profile tech tenants, flagship retail, and recent, high-stakes financial restructuring.
This 12-story, 300,000-square-foot New York City landmark is a microcosm of SoHo's evolution, transitioning from a gritty industrial center to a global hub for media, fashion, and innovation. The building’s recent history is particularly compelling, involving major corporate leases and a dramatic, multi-million-dollar loan saga that captivated the commercial real estate sector, proving that even the most historic properties are subject to the volatile forces of modern finance.
The Prince Building: A Biography of Bricks, Iron, and Commerce
The structure at 568 Broadway, located in the heart of the SoHo-Cast Iron Historic District, has a storied past that cements its status as an architectural and commercial icon. Understanding its profile is key to appreciating its current significance.
- Official Name: The Prince Building
- Alternate/Historical Name: Havemeyer Building
- Address: 568-578 Broadway, New York, NY 10012
- Location: SoHo (South of Houston Street), Manhattan
- Year Built: 1879 (some sources cite 1895)
- Original Use: Manufacturing facility, specifically a sewing factory
- Current Use: Class A Commercial Office and Retail
- Stories: 12
- Total Square Footage: Approximately 300,000 square feet
- Landmark Status: New York City Landmark
- Owner/Operator: Aurora Capital Associates (involved in recent restructuring)
- Notable Transaction: Sold for $87,500,000 in February 2003
The 7 Shocking Secrets That Define 568 Broadway Today
From its massive corporate leases to its behind-the-scenes financial drama, 568 Broadway is constantly making headlines. These seven points highlight the most current and compelling aspects of the Prince Building's life.
1. A $200 Million Financial Tightrope Walk and Restructuring
The Prince Building recently became a focal point for the volatility in the commercial real estate market. The property’s $200 million loan was reported to be in maturity default, even after receiving a two-year extension. This high-stakes situation, involving a major New York asset, drew significant attention from financial analysts. However, in a major win for the ownership, a complex loan restructuring was recently completed on behalf of Aurora Capital Associates. This successful maneuver stabilized the property's financial future, ensuring its continued operation as a prime office and retail destination along the Broadway Corridor.
2. The "Fresh" Pet Food Giant Taking Over Massive Space
In one of the most significant recent commercial leases, the fresh pet food company, The Farmer's Dog, committed to a massive 58,000-square-foot space at 568 Broadway. This move represents a substantial expansion for the company, which is relocating from a much smaller office. Securing such a large, long-term lease from a fast-growing, non-traditional office tenant like a pet food brand signals the building's adaptability and appeal to modern, dynamic businesses that value the SoHo address and its amenities.
3. The New Japanese Retail Flagship Replacing a Fashion Giant
The ground-floor retail space at 568 Broadway saw a major shakeup when the Japanese apparel brand GU (a sister brand to Uniqlo) secured a 25,000-square-foot lease. This high-profile transaction saw GU take over the massive corner space previously occupied by Forever 21. This retail anchor lease is crucial for the building's valuation and further solidifies Broadway’s status as a destination for international fashion brands, replacing a fast-fashion icon with a new, trend-setting global retailer.
4. The Unexpected Convergence of Tech, Media, and Beauty
The tenant roster at the Prince Building reads like a directory of modern, trend-setting industries, demonstrating the building's topical authority across multiple sectors. Notable office tenants include a powerful mix of tech, media, and beauty companies. Among the most prominent names are: Zocdoc, a leading digital healthcare marketplace; Group Nine Media, a major digital publisher (which includes brands like Thrillist); and the globally recognized beauty brand Milk Makeup. This mix of tenants—from health tech to digital content—underscores its appeal beyond traditional finance or law firms.
5. Its Past Life as the "Havemeyer Building" and a Sewing Factory
Before it was the Prince Building, and long before it housed tech and media giants, the structure was known as the Havemeyer Building. Originally constructed in 1879 (or 1895, depending on the source) as a manufacturing facility, it was primarily used as a massive sewing factory. This industrial heritage is evident in its robust, loft-style architecture—high ceilings, large windows, and open floor plates—a design that is now highly coveted by modern creative and tech companies, representing a perfect example of adaptive reuse in the SoHo district.
6. A Home for Art and Culture with MAGO Gallery
Beyond the corporate and retail tenants, 568 Broadway also serves as a cultural hub. The MAGO Gallery, a contemporary art space, recently celebrated its grand opening on the building's 4th floor (Suite #401). The presence of a dedicated art gallery alongside major commercial tenants adds a layer of cultural depth and a nod to SoHo's artistic roots, reinforcing the neighborhood's identity as a creative epicenter.
7. The Enduring Legacy of the Cast-Iron Architecture
The building is a designated New York City landmark and is a critical component of the SoHo-Cast Iron Historic District. While the Prince Building itself is a loft-style structure, its location is within the world's largest concentration of cast-iron architecture. This architectural context is vital; the building’s design, with its large windows and decorative elements, complements the surrounding historic fabric, ensuring that any development or renovation maintains the area's unique aesthetic integrity. This historic status protects the building's façade and ensures its continued preservation for future generations.
The Future of 568 Broadway and the SoHo Market
The recent activities at 568 Broadway are a strong indicator of the resilience and ongoing appeal of the SoHo commercial real estate market. The successful loan restructuring, coupled with the influx of major, long-term tenants like The Farmer's Dog and GU, suggests a renewed confidence in the Broadway Corridor.
The building's continued ability to attract diverse and high-profile entities—from Zocdoc in health tech to Milk Makeup in beauty, and international retail from BOSS Store to GU—showcases its unique value proposition. It offers the historical charm and large, open floor plates of a classic New York loft building, combined with the modern infrastructure required by today's leading businesses.
As the Prince Building moves past its recent financial challenges, it stands poised to remain a dominant force. Its blend of history (Havemeyer Building), finance (loan restructuring), retail (GU, BOSS Store), and innovation (Group Nine Media, Zocdoc) makes 568 Broadway, New York, NY 10012, a perfect case study for the evolution of the Manhattan commercial landscape.
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