118 East 1st Street
118 East 1st Street, New York, NY 10009
BBL 1004297502 · BIN 1090835
- Year built
- 2021
- Type
- Condominium
- Units
- 4
- Floors
- 9
- Amenities
- None documented. There is no staffed lobby, no gym and no resident manager
- Landmark status
- Not an individual landmark; not in a historic district
- NYC Landmarks Preservation Commission and City Planning records, updated February 2026
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at One One Eight, per development records would likely sell for today, what it costs to sell, and what you’d walk away with — reviewed personally against condition, exposures, renovation quality, and the competition actually on the market.
The building contains four apartments. 118 East 1st is a nine-story sliver on a 2,116-square-foot lot holding one commercial unit at the base and four townhouse-style duplexes above it, developed and designed by the same firm.
The duplex plan is the design argument. The residences use multiple levels on a 20-foot-wide lot; the garden duplex takes the base, two duplexes with front and rear balconies sit above it, and a three-level penthouse takes the top with two terraces including one on the roof. The street front is Jet Mist granite with Juliet balconies planted and irrigated, and the building's published specifications call for all-electric infrastructure, Net-Zero-principle insulation, high-performance glazing and MERV-13 filtration; they describe the original systems, and current condition needs confirming from recent engineering reports and board materials.
The financial argument runs the other way and needs to be stated plainly. The roll shows no tax exemption here. Most new East Village condominiums of the last decade closed with 421-a running and a benefit schedule to amortize; neither 421-a nor 485-x appears against any unit lot here. The roll does not show bill-level abatements, so check each apartment's tax bill, and expect future bills to change with assessments and rates. That is not the structure most new-development buyers in this neighborhood are calibrated to, and it belongs at the front of any comparison.
The second open item is the certificate of occupancy. The building has been operating on an initial certificate issued in April 2023 and renewed eleven times since, most recently in August 2026, with no final certificate in the record. Renewal cadence of that kind is what a temporary certificate of occupancy looks like. It is not unusual for a small building to run on temporary certificates for a stretch, and it is not by itself alarming — but it is a live diligence item that affects title, lender comfort and, in some cases, closing mechanics. Ask directly and get the current document.
Architecture and unit composition
Twenty feet of frontage and roughly 105 feet of depth on the lot, nine stories and a cellar. The duplex organization means each residence has a private internal stair and two full levels of exposure, with outdoor space attached to every home: balconies front and rear on the middle duplexes, a garden at the base, and terraces plus roof access at the top. Light is a front-and-back proposition — the building is mid-block with party walls on both flanks — so orientation within the duplex, not floor number, is what differentiates the plans.
The four residences sold individually out of the sponsor between May 2023 and February 2024, each to a separate and unrelated purchaser, with the penthouse first and the second duplex last. The ground-floor commercial unit, lot 1101, carries no recorded conveyance and remains in the sponsor's name in ACRIS; a buyer should read the declaration to understand how that unit shares in building expenses and whether the sponsor retains any control rights while it holds it.
The area figures do not reconcile. PLUTO carries 8,745 square feet of residential area within 10,584 gross square feet; the builder describes 13,680 square feet for the whole project, retail included. The figures use different scopes; confirm apartment interiors and total building area from the plans and the certificate of occupancy before you compute anything per square foot.
Building operations
Four owners, one commercial unit, no staff. Review the current budget to establish which shared-system costs, utilities, insurance, elevator maintenance and management expenses common charges cover. Compare the unit’s total carrying cost and reserve funding with specific alternatives; the absence of staff does not establish a lower cost.
The building is new: its first Local Law 11 façade filing is still ahead of it, and the roof and the mechanicals are under a decade old; development records describe an all-electric plant. Confirm the installed heating and hot-water equipment, its expected service life and the reserve for replacing it against the mechanical plans and maintenance records. Age does not establish condition. The corresponding risk is the opposite one: a four-unit condominium with a young reserve fund and no operating history through a capital event. Request the current operating budget, the reserve balance, the most recent financial statements, the sponsor's remaining obligations under the offering plan, and any punch-list or warranty items still open from construction — the last of these is where new small buildings most often disappoint.
Policy framework
Ownership form: Condominium. Purchases close through a right of first refusal rather than board approval.
Pets, pied-à-terre, subletting, LLC, trust and foreign ownership: Not established by the condominium form; governed by the declaration and house rules, which were not located in the records reviewed for this profile. Confirm with the managing agent and read the declaration — in a four-owner building the house rules are the whole governance story.
Financing: No minimum down payment is documented in public records. Note that a temporary certificate of occupancy can affect lender requirements; raise it with your mortgage broker early.
Flip tax: Not documented in public records. Confirm any resale capital contribution with the managing agent before pricing a sale.
Real estate taxes: No abatement. Underwrite full unabated taxes on the specific unit from day one.
Landmarks: Not designated and not in a historic district. Exterior alterations require no LPC permit.
Local Law 97
This building is below the 25,000 sq ft threshold at which LL97 limits apply to a building on its own. It is still covered if it shares a tax lot or condominium board with buildings totaling over 50,000 sq ft; confirm on DOB’s covered-buildings list.
See full Local Law 97 analysis →Recent sales
118 East 1st prices as boutique new-development duplex product, and the comparable set is narrow by construction: recent ground-up East Village condominiums with real outdoor space and small unit counts. Two adjustments separate this building from most of that set. First, the absence of an abatement means the effective monthly carry is higher than a headline-price comparison suggests against buildings still inside a 421-a benefit period. That advantage narrows as each comparable's 421-a benefit phases out, so compare the actual tax bills and remaining benefit schedules of the specific comparable units; total carrying cost also depends on common charges and assessments. Second, the duplex format and the attached outdoor space at every home are genuine differentiators that the per-square-foot metric handles badly.
With four residences and closings concentrated in a ten-month window out of the sponsor, there is almost no resale history to reason from inside the building; pricing has to be built from the neighborhood cohort and adjusted. Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
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.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Feb 15, 2024 | DUP | 2,146 sf | $3,002,146 | $1,399/sf | — |
| Feb 14, 2024 | 5 | 3 BR · 3 BA · 2,872 sf | $2,975,000 | $1,036/sf | -35.3% |
| Jul 20, 2023 | DUPLEX3 | 3 BR · 3 BA · 2,390 sf | $3,550,000 | $1,485/sf | -27.2% |
| May 15, 2023 | PHSponsor Sale | 3 BR · 3 BA · 3,082 sf | $4,852,390 | $1,574/sf | -17.1% |
Market read. Most recent trades (2024) cleared a median $1,218/sf (recorded) across 2 sales.
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-00429-7502; 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.
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What to know if you’re buying
There is no abatement. Verify the actual tax bill for the specific unit; it will still change with assessments, rates and any other benefits. This is the difference between this building and most of its new-development comparables.
Get the current certificate of occupancy. An initial certificate from April 2023 with eleven renewals through August 2026 and no final on file is a question to ask, not a detail to skip. It can affect your lender.
The square footage is contested. PLUTO and the builder's project figure use different scopes and differ materially. Measure from the plans and the certificate of occupancy before agreeing a price per square foot.
Read the declaration on the retail unit. It is unsold and sponsor-held. Understand its expense share, its permitted uses and any sponsor control rights that survive while it is held.
Four owners, young reserves. The records show no major capital work yet; confirm current condition with recent reports and board materials. Ask what the reserve fund holds and what the sponsor's remaining obligations and open warranty items are.
Check the (E) designation. DOB filings flag one on the site. Have counsel read the restrictive declaration and confirm the conditions were satisfied.
What to know if you’re selling
Sell the duplex, not the square foot. Two levels, private outdoor space at every home and a granite street front are what distinguish this building. Per-square-foot framing flatters the wrong comparables.
Handle the tax question first, not last. Buyers comparing against abated new development will find the gap themselves. Put the number in front of them with the carrying-cost math attached and it stops being an objection.
Have the certificate of occupancy and the financials in the marketing file. In a four-unit building, the deals that close are the ones where counsel got clean answers in week one.
Photograph the light and the outdoor space. A 20-foot-wide mid-block lot lives on front-and-back exposure and on the balconies and terraces. Shoot them.
Comparable buildings
If you're considering 118 East 1st Street, also evaluate:
- 101 East 2nd Street — the larger new-construction condominium on this same tax block; the immediate service-and-scale contrast
- 298 East 2nd Street — ground-up condominium completed 2020; the closest peer by vintage
- 75 First Avenue — new-construction condominium completed 2020, two blocks north
- 253 East 7th Street — boutique new-construction condominium completed 2018
- 100 Avenue A — new-construction condominium on Tompkins Square; the amenitized alternative
- 89 Avenue A — boutique Alphabet City condominium
- 103 Avenue A — small-scale condominium on the same corridor
- 1 Avenue B — boutique condominium two blocks east; comparable buyer profile
- 72 East 3rd Street — prewar condominium conversion; the older-stock alternative nearby
More East Village buildings
- 105 Third Avenue (Pear Tree Place) — condominium
- 111 East 10th Street — 1856 co-op
- 111 Third Avenue — 1958 condop by Horace Ginsbern & Associates
- 120 Second Avenue — 1920 co-op
- 121 East 10th Street — 1899 co-op
- 123 Third Avenue — 2009 condominium by Perkins Eastman
The neighborhood
For the full corridor — architecture, transit, and pricing across East Village — read The Roebling Team Guide to East Village.
How to read the facts on this page. Items attributed to an offering plan describe the building as it was offered at that filing — unit mix, square footage, the amenity program as planned. They are not a statement about how the building operates today. Tax and compliance figures are sourced separately to current City records and carry their own dates. House rules, staffing and fee policy can change by board resolution without any public filing: treat every policy line here as a starting point for diligence and confirm it with the managing agent. Where this page compares one building or neighborhood to another, that is our analysis of the recorded record — it names the measure, the period and the sample it rests on, and it is an observation about medians rather than a prediction about any particular apartment.
Considering a move at One One Eight, per development records?
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646.939.7375 · c.cohen@compass.com