One Of New York City's Most Expensive Neighborhoods Is A Hub Of Art And Luxe Residences

New York City remains a favorite destination for tourists from all over the globe. In fact, according to year-end tourism statistics from NYC Tourism and Conventions, 2024 saw the second-highest number of tourists in the city's history with nearly 65 million visitors. One of the reasons that people keep coming back time after time is that it's impossible for first-time visitors to NYC to see it all. In fact, it might take more than one trip just to master the New York City subway system.

But one of the city's most expensive neighborhoods is definitely worth a spot on your itinerary. SoHo (aptly named for its location south of Houston Street) has come a long way from its 19th-century industrial past. Once the factories moved uptown and artists seeking cheaper and more spacious housing moved in around the mid-20th century, the neighborhood slowly began to gentrify. Today, although the area's art scene is still vibrant, at a median price of $4 million the housing is anything but cheap. Yet visitors love strolling the Belgian block streets while studying the cast-iron buildings, browsing some of NYC's best museums and galleries, and shopping the luxury boutiques.

Around the 1960s, starving artists began to set their sights on SoHo's abandoned commercial lofts for cheap rent, ample natural light, and wide open spaces. By the 1970s, the area's artists had formed quite a tight-knit community, leading to the opening of multiple art galleries, theaters, and exhibitions. The wealthy patrons of some of the more famous artists began moving to the area in the 1980s, thus putting an end to affordable housing and ushering in high-end retail and dining.

One of the more renowned galleries in the area is the Franklin Bowles Galleries,  assisting clients in purchasing works by the likes of Rembrandt and Picasso. Photography (and music) fans can't miss the Morrison Hotel Gallery which showcases fine art music photography of the world's most legendary artists from over 125 of the best music photographers. If you want to see some unique drawings by artists from a variety of backgrounds ranging from chefs to architects to tattoo artists, check out the Drawing Center on Wooster Street. Then walk a couple of blocks down the road to experience "The New York Earth Room" — a 1977 art installation by Walter de Maria that is the last remaining Earth Room sculpture in the artist's series.

One of the most unique things about SoHo is its iconic cast-iron buildings. Thanks to the efforts of local residents to save this area from becoming a ten-lane highway, about 500 of these 19th-century relics were officially preserved to make up the SoHo Cast Iron Historic District in 1973, which officially achieved National Historic Landmark status five years later.

Aside from living in a piece of New York City history, what draws many would-be residents to the area is the walkability and its central downtown location. Plus, the shopping is among the best Manhattan has to offer with flagship luxury boutiques like Saint Laurent SoHo and Prada and trendy high-end vintage stores like What Goes Around Comes Around. Keep in mind that even if you can afford a spot in this pricey neighborhood, it will likely be snug — gone are the days of sprawling affordable loft space in this chic community. But if you get to live among all of these top-notch amenities, it just might be worth it.