10 Jay Street (Manhattan, Tribeca)

The Jay Street facade is organized in three bays per story, each carrying two large square-headed window openings separated by metal mullions and spandrel panels — the opening pattern of a commercial loft, and the reason the apartments have the glass they do. Stone-trimmed pilasters run up the elevation and terminate at the fifth story in stylized Corinthian capitals, with sheet-metal cornices marking the second and fifth floors. The sixth-story cornice is gone. At the base, the building keeps its loading platform, its masonry and cast-iron bay framing and its historic multipane transoms.

The Staple Street side has a one-bay return of the Jay Street composition, then a plain brick wall of five window bays per floor. That elevation is why the building reads as a Tribeca warehouse rather than a townhouse-scale conversion.

Inside, fourteen apartments across roughly 19,900 residential square feet averages out to loft-scale floor plates, and the plans are not uniform. The 2011 alteration on file (DOB job 120571657) split an existing duplex into two separate apartments, added a second-floor kitchen, and removed the spiral stair that had connected the duplex levels — taking the building from thirteen apartments to fourteen and producing the amended certificate of occupancy dated September 16, 2016. Earlier filings on file record apartment combinations in 2000 and 2003. Buyers should assume that line-to-line comparison inside this building is close to meaningless and that each apartment has to be underwritten on its own plan.

The building runs lean: an elevator, a common roof deck, bicycle storage and private storage, and no doorman. For a fourteen-apartment building, that is the correct posture — a staffed lobby would fall on fourteen maintenance bills.

The cooperative corporation carries an underlying mortgage. ACRIS records financing agreements by Jeffersonian Jay Street Corp. in the amount of $1.1 million in 2015 and $1.5 million in 2021, both with the same institutional lender. Those are recorded loan amounts, not current balances; the current balance, rate and maturity date are not public. Ask for them, together with the current reserve position and whether the building is on a Local Law 11 façade cycle (DOB filings show façade repair work in 2007–2008 and again in 2019).

Note also that the ground-floor commercial unit is not owned by the cooperative. It is a separate condominium unit in third-party hands, which means the building's retail income does not flow to the residential owners, and the commercial owner has its own vote in the condominium board of managers. Anyone underwriting the building's finances should understand that the co-op's budget is a residential-only budget with a common-charge obligation to the condominium above it.

In August 1986 the then-owner, Fifth Jeffersonian Associates, recorded a condominium declaration dividing the building into exactly two units: the ground-floor commercial space and everything above it. The commercial unit — lot 1001 — was sold off separately in April 1987 to a flag manufacturer and is today held by a limited liability company. The residential unit — lot 1002 — was conveyed to Jeffersonian Jay Street Corp., a cooperative corporation, which then issued shares to the residents of the fourteen apartments.

The result is that the Department of Finance classifies lot 1002 as building class R9 — a co-op within a condominium — and it means that when you buy an apartment here you are buying cooperative shares and a proprietary lease, not a deeded condominium unit. Transactions record in ACRIS as real property transfer tax filings against the co-op's single tax lot rather than as deeds against an apartment lot. Board approval applies. Financing is share-loan financing, not a mortgage on a deeded unit. Some market records describe the building as a condominium because PLUTO's building class for the parent lot is RM; that is a description of the mixed-use condominium wrapper, not of what a purchaser acquires.

What the structure does not settle is the rules. Sublet, pied-à-terre and entity-purchase terms come from the cooperative's own proprietary lease, by-laws and board policy, as at any co-op; the condominium wrapper does not by itself make them looser or stricter. This building publishes none of them, so get them from the managing agent.

The policy stack for this building is not published anywhere reliable, and this page will not guess at it. The management-sourced portal that handles board packages here lists only transfer fees — a non-refundable application processing fee, a screening report fee, and an optional expedited fee — and no pet, sublet, pied-à-terre, financing or flip-tax terms.

Get the following in writing from the managing agent before you commit to a price: the maximum financing percentage, any post-closing liquidity requirement, the flip tax or transfer fee, the sublet policy and any waiting period, the board's posture on pied-à-terre use and on purchases by trusts and LLCs, and the pet rules. Confirm each of them rather than assuming them in either direction; the cond-op structure alone does not tell you how they compare with a conventional co-op's.

Recent sales

Recent transfers 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 (2025) cleared a median $1,844/sf (recorded) across 1 sale. Median listing discount 6.1% 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 1-00143-7501). 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 on co-ops is not officially recorded, figures shown are approximate.

Confirm the borough on every document. The DUMBO building of the same address will appear in searches, valuation tools and title work. The Manhattan BBL is 1-00143-7501; the Brooklyn one is 3-00001-0050.

You are buying shares, not a deed. Budget for a co-op board package, a co-op share loan and a co-op timetable, even though the building sits inside a condominium.

Ask for the underlying mortgage balance and maturity. The recorded 2015 and 2021 amounts are origination figures; the current balance and the maturity date are the facts to confirm.

Landmarks governs the exterior. Windows and other exterior alterations, on the Jay Street or Staple Street elevation or elsewhere, require an LPC permit; the permit type depends on the scope. Work that meets LPC rules may be approved at staff level, and ordinary maintenance may be exempt. Confirm the review path for the actual scope, and budget the process, not just the work.

Underwrite full taxes. There is no J-51 and no 421-a here. The only abatement is the standard co-op/condo abatement for primary residents, and it is already in the number.

Lead with the corner and the alley. The Staple Street elevation, the two-sided light and the 1896 fabric are the product; there is no amenity story to tell and no reason to try.

Explain the cond-op before a buyer's attorney does. Buyers who arrive expecting a condominium and discover a board package late in the process walk. Explain early that buyers acquire cooperative shares and a proprietary lease inside a two-unit condominium, and have the current application, sublet and ownership rules in hand before describing them as more or less permissive than another co-op's.

Document the plan. With apartment combinations and a duplex split in the building's history, an accurate floor plan with the DOB approvals behind it is worth real money.

If you're considering 10 Jay Street, also evaluate:

• 47 Hudson Street — the Schepp Building, on this same tax block; the closest like-for-like on scale and vintage
• 55 Hudson Street — the American Express Company Building, also on block 143; the other landmark neighbor on Staple Street
• 36 Hudson Street — one block south on block 144, not this block; a useful pricing check across the Duane Park cluster
• 335 Greenwich Street — the Art Deco corner at Jay and Greenwich, half a block west
• 108 Duane Street — comparable Tribeca loft conversion at a similar unit count
• 134 Duane Street — prewar loft co-op economics in the same micro-market
• 137 Duane Street — boutique Tribeca loft building; similar staffing model
• 11 Harrison Street — two blocks north; the same buyer at a different price per foot
• 25 North Moore Street — the condominium alternative in north Tribeca; the direct trade-off against cond-op ownership