125 North 10th Street

The condominium consists of 86 residential units across six stories, plus 51 parking spaces, 27 cabanas and 8 storage lockers, per the audited financial statements. The two connected structures read as one building from North 10th Street; the below-grade garage runs beneath, and the roof carries a planted terrace whose landscaping is a recurring line in the operating budget.

Unit inventory runs from studios through three-bedroom layouts, with ceiling heights and window walls that were the sales argument at launch and remain the building's interior identity. The most consequential distinction across the inventory is not bedroom count but appurtenance: whether a residence conveys with a parking space, a cabana, a storage locker, terrace access, or some combination. With 51 spaces and 27 cabanas against 86 apartments, two apartments with identical floor plans can be materially different assets.

Cabanas deserve particular attention. They are a Northside product of this era — roof-level private enclosures serving individual units — and their status varies. Establish whether the cabana appurtenant to a unit is separately transferred, licensed, or a limited common element, and how the condominium allocates roof-work responsibility for it.

The condominium runs a full-service operating profile for a mid-rise. In the year ended December 31, 2020, payroll and related costs were roughly 56 percent of total expenses — the signature of attended-lobby staffing rather than a part-time superintendent arrangement — with maintenance, operations and utilities at roughly 27 percent. Total common charges ran a little over $1.1 million against total expenses of roughly $1.14 million, the gap closed by move-in fees, working capital contributions and other income. Two items in that record are the ones we would put in front of any buyer.

The 2020 audit describes the reserve policy. It reports that the governing documents did not require accumulated funds for future major repairs and replacements and that no reserve study had been conducted; obtain current documents before describing today’s policy or reserve adequacy. The board has instead transferred discretionary amounts year to year — roughly $90,500 in 2019 and roughly $44,900 in 2020 — with reserve cash of roughly $79,700 at the end of 2020. When capital needs exceed that, the board's stated options are raising common charges, levying a special assessment, or deferring the work.

The reviewed financials document a building loan. In May 2020 the condominium arranged a $500,000 facility with a commercial bank to fund capital improvements and drew approximately $485,400 in May 2021. Principal and interest run from June 2021 to maturity in May 2030 at a fixed 3.75 percent, collateralized by future assessments. Obtain the current lender balance, amendments and payment schedule alongside current reserves; the historical draw does not establish today’s outstanding debt.

A smaller item illustrates the block's continued development: in May 2019 the condominium licensed limited access to an adjacent building's owner for protective structures during construction next door, at $3,000 a month; they went up in June 2020 and came down in May 2021. Adjacent-site construction is a live feature of the Northside and worth checking at the moment of any transaction.

Pets: Not documented in the material we can verify. Confirm current house rules with management.

Pied-à-terre, LLC purchases, foreign buyers, trusts: Pied-à-terre: Permitted. LLC, foreign and trust purchases: Not documented; confirm in the declaration, bylaws and house rules.

Subletting: Permitted under standard condominium rules; transfers are subject to the board's right of first refusal.

Working capital contribution: A one-time, non-refundable contribution equal to two months of the then-current common charges is due from every new owner on acquisition of title, per the audited financials. It applies on resale, not only on sponsor sales, and should be included in a buyer’s closing budget after confirming the current operative rule.

Move-in / move-out deposits: Refundable deposits are collected against move damage. Flip tax: none documented. Property taxes: the Department of Finance exemption roll records a fifteen-year Section 421-a benefit from 2010 through 2025, carried live through the 2024 roll; the term has run out, so model the fully taxed bill on the specific unit.

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 (2026 to date) cleared a median $1,458/sf (recorded) across 6 sales. Median listing discount 0.0% from the last ask.

Sales sourced from NYC Department of Finance recorded transfers (BBL 3-02297-7502; 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.

Confirm exactly what conveys. Parking, cabana and storage are the value drivers here, and they do not attach to every apartment. Get the appurtenance package in writing before you negotiate price.

Budget the working capital contribution. Two months of common charges, one-time and non-refundable, due at closing on a resale — documented in the condominium’s financial statements; confirm the current rule and include it in the closing estimate.

Read the capital picture as one item. The $485,400 building loan amortizing to May 2030, reserve cash under $80,000 at the end of 2020, and governing documents that do not require reserve funding only make sense together. Ask for the current financials, the current budget, and the board's capital plan.

Ask where the sponsor litigation landed, and model taxes at the current bill. The 2012 action was still an open contingency in the 2020 audit, and its resolution changes how you read both the reserve position and the repair history. The roll shows no exemption; check the apartment's tax bill for any abatement.

Lead with the appurtenances. If your apartment carries a deeded parking space, that is the headline, not the finishes. Document exactly what parking interest conveys, the applicable rules and costs, and compare current alternatives.

Have the documents assembled before you list. Current financial statements, current budget, the status of the building loan, and the current position of the sponsor litigation. Buyers' attorneys ask for all four; supplying them proactively converts a potential objection into a demonstration of a well-run building.

Price on the line and the package, not the building average. With 86 units and roughly half carrying parking, average figures mislead in both directions. Recent same-line closings with the same appurtenances are the anchor, and the working capital contribution is better disclosed early than discovered at contract stage.

Position against the interior blocks, not the waterfront. The service level, garage and roof terrace read strongly against the smaller Northside condominiums; marketing that claims parity with the towers on amenity depth invites an unfavorable comparison.

If you're considering 125 North 10th Street, also evaluate:

• Warehouse 11 (214 North 11th Street) — a nearby peer: a six-story, block-long Northside condominium of the same generation with 61 deeded parking spaces, on North 11th Street
• 80 Metropolitan Avenue — same development generation, comparable scale
• The Edge (22 North 6th Street) — the waterfront amenity-tower alternative a few blocks south
• The Edge (34 North 7th Street) — the second Edge tower, same amenity platform
• Northside Piers (2 Northside Piers) — the other early Northside waterfront tower, with esplanade access
• Austin Nichols House (184 Kent Avenue) — the Cass Gilbert warehouse conversion; loft volume in place of mid-rise new construction
• The Oosten (429 Kent Avenue) — the South Williamsburg courtyard condominium; a later-generation full-service alternative