105 Lexington Avenue

The building is four stories of loft construction on a lot a little over 100 feet wide. PLUTO counts two structures on the lot. The Department of Buildings conversion filing described the existing building as a commercial loft. Its original industrial use and its architect are not documented in public records.

The 2006 filing created 29 apartments over a ground floor that included community-facility space. In February 2011 the sponsor filed to amend the certificate of occupancy, replacing the community-facility space on the first floor with apartments under the block's newer R6B zoning. That brought the count to 32. The declaration was amended in October 2011. The three apartments created this way are 1C, 1D and 1E. They are also the three units without J-51 benefits on Department of Finance records, which fits the sequence.

Floors one to three each have eight apartments of about 1,100 to 1,350 square feet. The fourth floor has eight larger apartments of about 1,530 to 1,820 square feet, and the house rules refer to decks at that level below the common roof. Department of Finance square footage is an assessment figure and does not reflect a measured survey. Line-by-line layouts are maintained in The Roebling Research Library and shared with clients during diligence.

Heating runs through a central boiler, which is a common element. Owners are responsible for their own HVAC equipment, ducts and controls, their windows and screens, and interior plumbing other than sprinklers, per the house rules' division of responsibilities. Window air conditioners may go only in the part of the window the board designates, unless the board approves otherwise in writing.

Taxes. The conversion received J-51 benefits, the city program for residential rehabilitation and conversion. The Department of Finance records two separate benefits on 29 of the 32 units:

• The J-51 exemption. This froze part of each unit's assessed value at its pre-conversion level. Base year 2006, benefit start 2012, 14-year term. It appears on the assessment rolls through 2025/26 and is gone from the 2026/27 roll. Owners who bought with the exemption in place are now paying the full assessed tax. A buyer should underwrite the current bill, not an older one.
• The J-51 abatement. This is a credit against the tax bill, based on certified conversion costs. Department of Finance abatement records carry it on the same 29 units, with a benefit window running to December 31, 2030. On the unit records we reviewed it is small relative to the tax bill. It is a modest offset, not a structural reduction, and it ends.

Units 1C, 1D and 1E carry neither benefit. Owner-occupants may separately qualify for the city's co-op and condo abatement, which appears on the rolls for many units.

Capital. The 2019 audited statements show a special assessment for exterior waterproofing and major repair spending of about $219,000 that year, matching a 2019 Department of Buildings filing for façade repairs. At year-end 2019 the reserve account held under $100,000. The auditor noted that the condominium had not commissioned a reserve study, and that its governing documents do not require reserve accumulation. Future major work would be funded by assessments or higher common charges. Ask for the most recent financial statements and any engineering reports before contract.

Façade inspections. At four stories, the building falls below the Local Law 11 threshold, which applies to buildings taller than six stories. It does not face the city's five-year façade inspection cycle.

Governance. The condominium is professionally managed. It has been owner-governed since 2014.

• Right of first refusal on sales and leases, under Article 8 of the By-Laws. Purchase and lease agreements must attach the by-laws, offering plan and house rules, with the buyer's or tenant's written agreement to follow them.
• Application: The house rules ask buyers and tenants to complete a condominium application and a short letter of introduction. There is no application fee unless the board or manager requires a credit check.
• 1% capital contribution from the buyer on every resale, under a 2014 by-law amendment (Article 8.11). The house rules date it January 1, 2014. The 2019 audited statements say January 14, 2014.
• Move deposits: $1,000 each from the outgoing and incoming party (Article 8.12). Closing transaction fee of up to $850 (Article 8.13).
• Leasing: 30-day minimum. Board notice and right of first refusal apply to leases of any length. Short-term rental violations are fined.
• Pets: Owners only. Up to two dogs of 20 pounds or less, plus cats, caged birds and fish. Pets must be carried or leashed in common areas.
• Work hours: Construction and repair work is limited to weekdays, 8:00 a.m. to 5:00 p.m. Owner renovations require notice to management with plans, permits and insurance.

These come from the house rules and by-law amendments on file. Confirm current versions with the managing agent at offer stage.

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 (2025) cleared a median $1,111/sf (floor-adjusted) across 2 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 1.2% 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 3-01967-7504; 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 tax bill as it is now. The J-51 exemption has ended. If the seller's figures are from before the 2026/27 tax year, their tax component may reflect the exemption; compare it with the current bill. The remaining J-51 abatement is small and runs out by the end of 2030.

Ask about reserves and the envelope. The 2019 waterproofing assessment is the most recent capital event on record. Ask what has been done since, what the reserve holds, and whether the board has commissioned an engineering or reserve study.

Budget the 1%. The buyer's 1% capital contribution is a closing cost on top of the usual condominium costs, including the transfer and mansion taxes where they apply.

Allow time for the right of first refusal. It is a condominium, so there is no co-op board admission, but the contract should allow for the board's waiver.

Price the tax change honestly. Buyers and their lenders will see the full bill. Presenting the post-exemption number up front avoids a retrade.

Lead with the building. An elevator, a roof deck, a gym and a bike room in a 32-unit loft conversion are uncommon in this submarket. That is what separates this building from the walk-up conversions around it.

If you're considering 105 Lexington Avenue, also evaluate:

• 970 Kent Avenue — a 1930 industrial loft converted to 103 condominium units, on the same Bedford-Stuyvesant and Clinton Hill seam
• 524 Halsey Street — a 31-unit Bedford-Stuyvesant adaptive-reuse condominium, also four stories
• 10 Quincy Street — a 46-unit, four-story Clinton Hill industrial conversion with a common roof deck and no tax benefit
• 372 DeKalb Avenue (Clinton Mews) — a 1930 heavy-timber industrial building in Clinton Hill, converted to a co-op
• 110 Clifton Place — a 1920s industrial building in Clinton Hill converted to a cooperative
• 75 Greene Avenue — a 22-unit adaptive-reuse condominium in a 1930 institutional building in Fort Greene
• 136 Clifton Place — a 32-unit Bedford-Stuyvesant walk-up condominium; the same unit count in new construction
• 315 Gates Avenue — a 2009 six-story new-construction condominium nearby