128 Hester Street
128 Hester Street, New York, NY 10002
BBL 1003030019 · BIN 1091754
- Type
- Condominium
- Landmark
- No
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 128 Hester Street 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.
128 Hester Street is a seven-story, mixed-use condominium on a 50-by-50-foot lot on Hester Street between Chrystie Street and the Bowery. It has eight residences on the upper floors over about 5,800 square feet of commercial space and a small community-facility unit. The offering plan was accepted in September 2025 and declared effective in March 2026.
It is one of the few new-construction condominiums in Chinatown, and the residences are small to mid-size: published construction reporting gives an average of about 1,037 square feet. The first recorded sponsor sale, Residence 4A in August 2026, closed at $805,107.
Architecture and residences
Isaac & Stern Architects designed the building for Fortune Assets LLC, according to published construction reporting, which describes a dark brick facade with a grid of floor-to-ceiling windows, balconies on the fourth through sixth floors, and a setback seventh floor with a terrace. The site was vacant before excavation began in 2023, and foundations were underway in May 2024.
The Department of Buildings new-building job covers seven stories, 74 feet, eight dwelling units and about 18,792 square feet of construction including the cellar; construction reporting gave 70 feet and about 14,427 square feet above grade. City tax records, which give a 2024 completion, show 8,226 square feet residential, 4,017 square feet of office space and 1,656 square feet of retail.
The condominium declaration, recorded in April 2026, created 14 unit lots: a commercial unit, a community-facility unit, and units 2A, 2B, 3A, 3B, 4A, 4B, 4C, 5A, 5B, 6A, 6B and 7A. With eight residences in the plan and office space in the tax record, the second- and third-floor units appear to be non-residential, leaving 4A through 7A as the eight homes. Confirm the unit types in Schedule A.
Offering and pricing
Per the offering plan filed with the New York State Attorney General (plan CD250014), the plan was submitted January 17, 2025, accepted September 12, 2025 and declared effective March 16, 2026. It covers 14 units, eight of them residential. The current total offering price is $18,758,100, and the record reports two units sold. We could not read the individual amendments or the price at acceptance in this review.
$18,758,100 across all 14 units averages $1,339,864, but that figure mixes residences with commercial space. The plan's Schedule A is needed for the residential prices.
Recorded closings. ACRIS shows one sponsor sale as of October 2026: Residence 4A, deed dated August 14, 2026, at $805,107. The Attorney General record counts two sold, so a second closing may not yet be recorded. We did not find current asking prices.
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
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-00303-0019; 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.
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What to know if you’re buying
Two addresses. The plan uses 128 Hester Street; the Department of Buildings and the tax record use 126. Make sure the contract, title report and certificate of occupancy refer to the same tax lot.
A mixed-use condominium. Six of the 14 units are commercial or community-facility units. Read how the declaration splits common charges and votes between the residential and commercial sections, and what uses the commercial units may have.
Certificate of occupancy. The new-building job did not show a final sign-off in October 2026. A sponsor can close on a temporary certificate of occupancy, renewed periodically until a final one issues. Ask what the sponsor holds back until then.
Closing costs. In sponsor sales the buyer customarily pays the New York State transfer tax (0.4%, or 0.65% at $3 million or more) and the New York City real property transfer tax (1% at $500,000 or less and 1.425% above for a residential unit). At the $805,107 recorded price that is about $14,693 before any gross-up; homes under $1 million pay no mansion tax.
Carrying costs and abatement. No tax abatement has been disclosed. Confirm the first-year tax projection in the plan.
Sponsor board control. The sponsor controls the board until enough units are sold to turn control over to owners. The declaration and by-laws set the threshold.
Comparable buildings
If you're considering 128 Hester Street, also look at these Chinatown and Lower East Side condominiums:
- 158 Hester Street — condominium built in 2004 two blocks west on Hester Street
- 48 Hester Street — 35-residence condominium built new in 1990
- 161 Grand Street — 1911 loft converted to condominiums around 2000
- 84 Forsyth Street — walk-up condominium with commercial space a block east
- 42 Allen Street — eight-residence condominium with commercial units, a similar mix
- 7 Essex Street — 16-residence new-construction condominium
More Lower East Side buildings
- Blue (103 Norfolk Street) — 2007 condominium by SLCE Architects
- 115 Allen Street — 1889 condominium
- 115 Norfolk Street — 2008 condominium
- 133 Essex Street — condominium
- 147 Ludlow Street — 2016 condominium
- 148 Attorney Street — 2018 condominium by Isaac & Stern Architects
The neighborhood
For the full corridor — architecture, transit, and pricing across Lower East Side — read The Roebling Team Guide to Lower East Side.
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.
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646.939.7375 · c.cohen@compass.com