114 Liberty Street

The building is a 1913 eleven-story commercial loft on a 45-foot Liberty Street frontage running through to Cedar Street, with a masonry façade and a cornice line that has been rebuilt at least once — a 2002 alteration replaced the existing metal cornice with a cast fiberglass one and reconstructed masonry at spandrel and pilaster level. Published historical records describe the building's early use as a lighting manufacturer's loft. The original architect is not identified in the city records reviewed, and no attribution is offered here.

Nine of the twelve residences are full floors, and the Department of Finance carries five of them at roughly 5,360 square feet — genuinely large plates by Financial District standards, with light on both the Liberty and Cedar elevations and no shared corridor. Listing records describe ceilings of approximately twelve feet under a vaulted structure. The three smaller residences, at roughly 2,300 to 2,470 square feet, are the ones created out of the former commercial units on the second, third and upper floors by the 1999 and 2004 amendments; they are laid out differently and they are worth walking against a full floor before choosing between them.

The Liberty Street elevation faces the World Trade Center area; verify the apartment's actual sightlines, including whether it overlooks any part of the memorial plaza. The Cedar Street side is the quieter one, with a storefront that was restored under a 2012 alteration.

The building runs as a small full-service condominium with an attended lobby. It is not amenity-heavy; the value here is floor plate, ceiling height, light and the outlook.

The capital record is legible from the Department of Buildings file. Façade cleaning and cornice reconstruction in 2002. The 9/11-related restoration and life-safety work in 2004, including four new boilers and a new four-inch gas service, a smoke-control panel, sprinkler and standpipe modifications, and a fire suppression system. Façade repairs and a Cedar Street storefront restoration in 2012, with sidewalk shed and pipe scaffold. A further sidewalk shed in 2021, and a miscellaneous façade, terrace and roof restoration filed in November 2022 that ran with hoist and supported scaffold into 2023 and a façade restoration and inspection filing in January 2024. Rooftop telecommunications equipment has been installed and decommissioned by successive carriers, which is a modest income line for the building.

That is close to continuous exterior work across a decade, on a condominium whose offering plan funded no reserve at conversion. The right questions are direct: what is the current reserve balance, what did the 2022–2024 façade and roof restoration cost, was it funded from reserves or by assessment, is any assessment live now, and what does the most recent Local Law 11 filing say. Audited financial statements for the 2014-2015 and 2015-2016 years are held in The Roebling Research Library and are reviewed with clients during diligence.

Ownership form: Condominium. Sale and lease are subject to a board right of first refusal rather than a cooperative approval, and closings run on condominium timelines.

Pets, pied-à-terre, LLC, trust and foreign ownership: Permitted under the condominium framework. The ownership record shows sustained LLC and trust ownership across the residential unit lots. The current house rules have not been verified; obtain them from the managing agent.

Subletting: Permitted, subject to the right of first refusal. Confirm the minimum lease term.

Commercial units: Two commercial unit lots (1101 and 1102) remain in sponsor-affiliated ownership, transferred within that group in April 2017. Under the amendments on file, the commercial owner may subdivide, alter, sell, lease or mortgage those units, and in the case of the second-floor units change their use from commercial to residential, without the consent of the board of managers or the residential unit owners. That is a broad reserved right and it should be read in full.

Flip tax: Not documented in the offering plan on file.

Real estate taxes: 421-g exemption and abatement, fully expired. No residential unit lot shows meaningful exempt value in FY2026 or FY2027; the roll does not show abatements, so check the specific unit's tax bill and run True Monthly Carrying Cost analysis against the current bill rather than against any projected schedule.

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 (2022) cleared a median $1,135/sf (recorded) across 1 sale. Median listing discount 4.4% 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 1-00052-7502; 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.

The 421-g is gone. Underwrite the full bill. The offering plan advertises it, older marketing copy sometimes still repeats it, and the FY2026 and FY2027 assessment rolls show zero exempt value on every residential unit lot. This is the most common underwriting error at this address.

Ask for the certificate of occupancy in writing. Twenty-nine temporary certificates and no final one, on an application that remains open at the Department of Buildings. Establish current status before contract; lenders and title companies will.

There was no reserve funded at conversion. The plan says so. Get the current reserve balance and the last three years of financial statements, and set them against a decade of façade, roof and terrace work.

Read the commercial owner's reserved rights. The amendments give the commercial unit owner wide latitude to subdivide, sell, lease and — on the second floor — convert to residential use without board or residential-owner consent.

Full floors and part floors are different products. Nine full-floor lofts at roughly 5,360 square feet, and three smaller residences created out of former commercial space. They do not price, live or resell the same way.

The address is the outlook. Near the World Trade Center; confirm the apartment's actual view of the campus and memorial. That is a real amenity and, for some buyers, a real consideration. Visit at different times of day.

If you're considering 114 Liberty Street, also evaluate:

• 55 Liberty Street — prewar Liberty Street conversion two blocks east; the closest peer by street and vintage
• 20 Pine Street — large Financial District office-to-residential conversion; the amenity-heavy alternative
• 25 Broad Street — Lower Manhattan conversion of the same era and program
• 15 Broad Street — Downtown by Philippe Starck; the full-service conversion comparison
• 1 Wall Street — the landmark Financial District office-to-residential conversion at the top of the market
• 111 William Street — boutique Financial District condominium of comparable scale
• 130 William Street — new-construction Financial District condominium; the ground-up alternative
• 150 Nassau Street — the American Tract Society Building; large-plate prewar loft conversion nearby
• 1 John Street — new-construction condominium in Brooklyn
• 161 Maiden Lane — Seaport Residences; the cautionary comparison on construction and certificate risk