‘The Devil Wears Prada’ Loft in Downtown Manhattan Listed for $8.5 Million
The SoHo pad was the used as the site of a party in the 2006 film.
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A New York City loft that was featured in “The Devil Wears Prada” hit the market last week for $8.95 million.
Fans of the 2006 movie, set in the fashion world, will recognize the apartment as the SoHo home of James Holt, played by Daniel Sunjata. There, during a party, Anne Hathaway’s character, Andy, meets love interest Christian Thompson, played by Simon Baker.
Located on Crosby Street in Downtown Manhattan, the real-life loft is located on the third floor of a nine-unit building. Built in 1900, the building was originally part of a department store before serving as a storage warehouse for several decades. In 1999, it was converted into a condo building, according to the listing with Jacques Foussard, Filipacchi and Jason Schuchman of Brown Harris Stevens. They weren’t available for comment.
The sellers are Sara and Marc Schiller, founders of the Apartment, a design concept store that’s also located on Crosby Street, according to the listing. They bought the loft in 2000, property records show, though Mansion Global couldn’t determine how much they paid.
The Schillers couldn’t immediately be reached for comment.
A 120-foot-long brick wall with arches stretches from the entryway to the home’s great room, where there are 13-foot ceilings, Corinthian columns and 10-foot-tall west-facing windows. The space has a fireplace and can accommodate multiple sitting areas as well as a dining table.
Off the great room is a custom-designed kitchen with high-end appliances and butcher block countertops.
The 3,600-square-foot home has two bedrooms and two-and-a-half bathrooms. The primary bedroom features a “one-of-a-kind” walk-in closet with “organic curves [that] were built to climb in order to reach the highest compartments,” according to the listing.
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The 2026 McGrath Report warns that without urgent reforms to planning, infrastructure and construction, housing affordability will continue to slip beyond reach for most Australians.
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Australia’s housing market has reached a critical juncture, with home ownership and rental affordability deteriorating to their worst levels in decades, according to the McGrath Report 2026.
The annual analysis from real estate entrepreneur John McGrath paints a sobering picture of a nation where even the “lucky country” has run out of luck — or at least, out of homes.
New borrowers are now spending half their household income servicing loans, while renters are devoting one-third of their earnings to rent.
The time needed to save a 20 per cent deposit has stretched beyond ten years, and the home price-to-income ratio has climbed to eight times. “These aren’t just statistics,” McGrath writes. “They represent real people and real pain.”
McGrath argues that the root cause of Australia’s housing crisis is not a shortage of land, but a shortage of accessibility and deliverable stock.
“Over half our population has squeezed into just three cities, creating price pressure and rising density in Sydney, Melbourne and Brisbane while vast developable land sits disconnected from essential infrastructure,” he says.
The report identifies three faltering pillars — supply, affordability and construction viability — as the drivers of instability in the current market.
Developers across the country, McGrath notes, are “unable to make the numbers work” due to labour shortages and soaring construction costs.
In many trades, shortages have doubled or tripled, and build costs have surged by more than 30 per cent, stalling thousands of projects.
Need for systemic reform
McGrath’s prescription is clear: the only real solution lies in increasing supply through systemic reform. “We need to streamline development processes, reduce approval timeframes and provide better infrastructure to free up the options and provide more choice for everyone on where they live,” he says.
The 2026 edition of the report also points to promising trends in policy and innovation. Across several states, governments are prioritising higher-density development near transport hubs and repurposing government-owned land with existing infrastructure.
Build-to-rent models are expanding, and planning reforms are gaining traction. McGrath notes that while these steps are encouraging, they must be accelerated and supported by new construction methods if Australia is to meet demand.
One of the report’s key opportunities lies in prefabrication and modular design. “Prefabricated homes can be completed in 10–12 weeks compared to 18 months for a traditional house, saving time and money for everyone involved,” McGrath says.
The report suggests that modular and 3D-printed housing could play a significant role in addressing shortages while setting a new global benchmark for speed, cost and quality in residential construction.
Intelligent homes
In a section titled Weathering the Future: The Power of Smart Design, the report emphasises that sustainable and intelligent home design is no longer aspirational but essential.
It highlights new technologies that reduce energy use, improve thermal efficiency, and make homes more resilient to climate risks.
“There’s no reason why Australia shouldn’t be a world leader in innovative design and construction — and many reasons why we should be,” McGrath writes.
Despite the challenges, the tone of the 2026 McGrath Report is one of cautious optimism. Demand is expected to stabilise at around 175,000 households per year from 2026, and construction cost growth is finally slowing. Governments are also showing a greater willingness to reform outdated planning frameworks.
McGrath concludes that the path forward requires bold decisions and collaboration between all levels of government and industry.
“Australia has the land, demand and capability,” he says. “What we need now is the will to implement supply-focused solutions that address root causes rather than symptoms.”
“Only then,” he adds, “can we turn the dream of home ownership back into something more than a dream.”
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