1 John Street

The 42 residences run from two-bedroom lines through four-bedroom floor-plate units and a penthouse tier, with Schedule A initial pricing from roughly the low $2 millions to above $6 million and an aggregate initial residential offering near $166.9 million — an average around $4 million that positioned the building, at filing, alongside the borough's most expensive small condominiums. Typical units are large — many lines run 2,300 to 2,600 square feet with three and a half baths — and several carry terraces; ceiling heights are measured to exposed concrete in the plan's convention, consistent with the building's pared, structural finish language. Storage lockers and ancillary amenity licenses were offered separately under the plan.

Line logic follows the park. North and west lines above the fourth floor take the river, the bridge, and the skyline over the John Street lawn; lower floors trade panorama for immediacy — the park at the window. The commercial unit and Spark hold the ground plane, so residences begin above the public program.

At 42 units, 1 John Street runs lean: an attended lobby (24-hour coverage from first closing per the plan), fitness room, lounge, roof terrace, and a compact staff — with common charges carrying the building's operations plus each unit's proportionate rent (base rent and PILOT) under the sublease. The Department of Finance does not bill owners directly; the condominium's statements are the record. The sublease's security fund — sized to base rent and PILOT benchmarks — was funded by the sponsor with purchasers reimbursing pro-rata shares at closing, a line item that recurs by negotiation on resales. The Park Unit's common charges are capped at $700 per month (inflation-adjusted after five years) under the sublease, with any excess borne by the residential owners — the operating expression of the building's public-private bargain. The offering plan's tax counsel opined on PILOT's deductibility as real estate taxes for itemizing owners, subject to the standard limitations and any IRS ruling conditions described in the plan; confirm current treatment with your adviser.

The building's by-laws, house rules, floor plans, financial statements, and offering plan schedules are maintained in The Roebling Research Library and shared with clients during diligence.

Ground rent and PILOT: Paid through common charges; PILOT equals full tax-equivalent assessment.

Lease term: Sublease expires July 27, 2109; no renewal right; the ground lease conveys to the City's side at expiration (offering plan).

Park Transfer Fee: 1 percent of the sale price on every sale, including sponsor sales; allocation negotiable on resales; unpaid-fee sales are void (offering plan).

Working capital: Two months' common charges, non-refundable, per purchaser at closing.

Pied-à-terre / LLC / foreign buyers: Permitted (standard condominium; the plan's sovereign-purchaser provisions apply to government buyers).

Subletting: Permitted under standard condominium rules; confirm current house-rule requirements with management.

Pets / specific house rules: Documented in the building's house rules (on file in the Research Library); confirm at application.

Recent sales

Recent closings at this building, from The Roebling Research Library. Prices are the transfer amounts recorded with the NYC Department of Finance; apartment-level detail is checked against the building’s own file in The Roebling Research Library before publishing.

Market read. Most recent trades (2026 to date) cleared a median $1,962/sf (floor-adjusted) across 3 sales. Floor-adjusted means each sale is restated to a constant mix of floors, so the figure can differ from the plain median of the sales listed above. Median listing discount 0.1% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.

Sales sourced from NYC Department of Finance recorded transfers (BBL 3-00001-7501; each condominium apartment is its own tax lot). Apartment-level facts (line, condition, asking-price context) curated and cross-verified in The Roebling Research Library. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price; square footage from recorded condo declarations and offering plans.

Underwrite the park framework first. PILOT-inclusive charges, the 2109 sublease with surrender, the security-fund reimbursement line, and the 1 percent Park Transfer Fee are the building's structure. All are manageable; none should surprise you at contract.

Scarcity cuts both ways. Forty-two units means little inventory, few comparables, and patient timelines on both sides of the market. If a line you want appears, the opportunity cost of waiting for the next one is measured in years.

The design is the product. Alloy's envelope logic, the LEED Gold specification, and the exposed-structure finish language attract a specific buyer; see the actual unit's light and exposure rather than assuming from the floor plan.

Transit is the F at York Street, or the ferry. The building sits past the bridge anchorage at the district's quiet end — a five-plus-minute walk to the subway that residents describe as the point, not the price.

A children's museum shares the ground floor. Spark and the restaurant animate the base; for most owners it is an amenity, but visit at an active hour and decide for yourself.

Market the building, then the unit. The award pedigree, LEED Gold, the park address, and the museum base make the building's story unusually tellable; the thin comparable set means narrative genuinely moves price here.

Put the leasehold explanation in the deal room. The lease summary, the PILOT walk-through, and the all-in carrying comparison should reach buyers before their counsel raises them.

Net-sheet the Park Transfer Fee. One percent, every sale, allocation negotiable — carry it in your proceeds model from the first conversation.

Price against the park's set. The honest comparables are the building's own history and the park's other leasehold condominiums, adjusted for scale and finish, rather than the loft district's conversions.

If you're considering 1 John Street, also evaluate:

• 1 Main Street (The Clock Tower) — the trophy Gair conversion across the park's DUMBO section; volume and history against 1 John's design pedigree
• 168 Plymouth Street — the district's acclaimed recent boutique conversion, two blocks inland
• 205 Water Street — modern boutique condominium at similar scale on the district's eastern blocks
• 133 Water Street — small modern condominium in the district core
• 30 Main Street (The Sweeney Building) — refined mid-size loft conversion near the park
• 37 Bridge Street (Kirkman Lofts) — boutique conversion at comparable unit count, inland
• Quay Tower (50 Bridge Park Drive) — the park's tower-scale leasehold peer at Pier 6 in Brooklyn Heights
• One Brooklyn Bridge Park (360 Furman Street) — the park's warehouse conversion; the same PILOT framework at 10x the scale
• Front & York (85 Jay Street) — the district's full-amenity alternative for buyers who want infrastructure over intimacy