107 West 25th Street

The architect's report in the plan describes a six-story building with a cellar, 80 feet wide at the front and 90 feet deep. The lower two stories are limestone, since painted over, with narrow end bays and wide center bays. The two entrances sit in the end bays. A sidewalk vault extends about five feet under West 25th Street. The building has a passenger elevator and a freight elevator, each with its own roof bulkhead.

Five apartments to a floor on an 80-foot frontage means a mix of street-facing and rear-facing lofts. Ask which exposure an apartment has before assuming light. DOB filings since 2000 show a steady run of apartment renovations, a 2006 terrace installation, a 2016 renovation of the shared roof recreation area, and the combination that brought the count from 25 to 24.

The ground floor is retail. A 2000 filing merged two stores into one, and 2015 filings converted commercial space to medical use. The 2013 transfer of the commercial interest is recorded in ACRIS.

The 2026 budget on file, prepared in September 2025, shows a building with modest debt and an active capital program:

• Maintenance rises about 3 percent in 2026.
• A 12-month special assessment of about $90,000 is budgeted for 2026.
• Capital work: boiler work in 2024 and 2025, a hallway and lobby renovation running into 2026, and a lead-pipe replacement budgeted for 2026. Fuel drops out of the 2026 budget after the boiler work.
• Real estate taxes are the largest expense, a bit over half of operating costs.
• Cash, including a reserve account, was projected at about $300,000 at year-end 2025.
• Abatement assessment. The budget carries an assessment line tied to the co-op tax abatement credited to shareholders. Ask how it is billed before counting the abatement as a saving.

The J-51 conversion benefit is long gone. The city's historical file shows a 12-year exemption and a 90 percent abatement beginning in 1982, phasing down from 1993 and ending in the 1996 tax year. The plan had projected a start of July 1, 1980. The city's file is the better record.

For four decades the block was zoned M1-6, a manufacturing district, and residential use in this building rested on its conversion-era certificate of occupancy. DOB filings describe that certificate as reviewed under Article 7-B of the Multiple Dwelling Law. Article 7-B is the state provision that governs residential occupancy of converted commercial and loft buildings.

On August 14, 2025, the City Council adopted the Midtown South Mixed-Use Plan. PLUTO now places the lot in M1-8A/R11, a paired district that allows manufacturing and residential use side by side, with part of the lot in C6-4X, inside the new MSX special district. PLUTO records a residential floor-area ratio of 12.0 against a built ratio of 5.20. Floor-area ratio is a building's floor area divided by its lot area.

On paper, then, the corporation holds substantial unused development rights. Whether they have practical value depends on the building's structure, the zoning lot and the market. Any sale of them would be a board decision that shareholders would want to understand. For a buyer, the nearer effect is the neighborhood: lots on this block that were limited to commercial use can now be built as housing.

Nothing in the offering plan or the DOB filings reviewed points to a Loft Law history. The Loft Law, Article 7-C, legalized loft tenancies after the fact. This was a sponsor's conversion under a filed plan. We did not confirm whether any apartment is designated joint living-work quarters for artists, a separate Article 7-B category, because the certificate of occupancy could not be retrieved. Ask for it.

Board package and interview. You are buying shares in the corporation and a proprietary lease, the lease that gives a shareholder the right to occupy a specific apartment. The board must approve the purchase. The application on file asks for two years of tax returns or a certified financial statement, bank and personal references, and an in-person meeting.

Flip tax. A flip tax is a fee the corporation charges on a sale. The 1997 amendment sets it at 2 percent of the gross price, payable by the seller, and lets the board set another amount. One purchase-application form in the file refers to a 1 percent flip tax, but it sits inside a form carrying another building's name. Confirm the current rate in writing.

Subletting. The board may refuse consent for any reason or none. A sublet may not run longer than the shareholder has lived in the building. The subtenant goes through the application process, and approval adds 5 percent of the rent to maintenance. The house rules allow unpaid short stays of under 30 days, such as house-sitting or an apartment swap, without approval. Paid guest stays are banned.

Other rules worth knowing. Shareholders must carry at least $300,000 of liability insurance. At least 80 percent of each room's floor must be covered, apart from kitchens, baths, closets and foyers. Renovation work is limited to weekdays from 8:30 a.m. to 5:00 p.m. Smoking is banned in common areas, on the roof, and within ten feet of the building. Lease disputes involving less than one year's maintenance go to binding arbitration under a 1997 amendment.

Not documented: financing ceiling (the maximum share of the price you may borrow), minimum down payment, post-closing liquidity, pied-à-terre use, and purchases through trusts or LLCs. All of these have to come from the managing agent.

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 (2026 to date) cleared a median $1,171/sf (floor-adjusted) across 1 sale. 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 3.0% 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 1-00801-0030). 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.

Read the commercial lease. The ground-floor rent is a meaningful share of the corporation's income. Its term, rent escalations and the tenant's standing matter to your maintenance as much as the mortgage does.

Ask about the 2026 assessment and the capital plan. The budget shows a 12-month assessment and ongoing hallway and pipe work. Get the current schedule and ask whether more is planned.

Get the underlying mortgage terms. ACRIS confirms a 2020 consolidation. The maturity date and rate are not in the documents on file.

Ask for the certificate of occupancy. It confirms the legal apartment count and how each unit is classified.

Price in the flip tax. At 2 percent of the gross price, it is a real cost. Confirm the current rate before you set your price.

Lead with the loft. Buyers here pay for volume, windows and layout. Clear floor plans, ceiling heights and exposure do more than room counts.

If you're considering 107 West 25th Street, also evaluate:

• 110 West 25th Street — full-floor loft condominium across the street, the same block under the same 2025 rezoning
• 142 West 26th Street — 1911 full-floor loft cooperative a block north
• 116 West 29th Street — loft cooperative converted around 1980, also inside the MSX district
• 133 West 17th Street — 24-unit Chelsea loft cooperative with a documented J-51 history
• 139 West 19th Street — Chelsea loft cooperative between Sixth and Seventh Avenues
• 40 West 24th Street — 1905–06 store-and-loft building converted to a co-op in 1978, east of Sixth
• 250 West 27th Street — 1918 Chelsea warehouse converted to a loft cooperative
• 249 West 29th Street — 1927 loft cooperative on the Chelsea–NoMad border