130 East 12th Street (First Village)Recorded sales & closing prices

First Village trades as a small prewar loft condominium on the Greenwich Village and East Village seam — a location that draws buyers from both markets and prices somewhere between them. The building's advantages are its plates, its 1905 bones, its low unit count and a location a block from the Broadway spine and two blocks from Union Square transit. Its constraints are its scale: confirm actual services, capital allocations including the commercial interest, and the dated comparable sample; eleven residential lots alone do not establish them.

Per-square-foot pricing here should be built from converted loft condominiums in the East 10th to East 14th Street band between Broadway and Third Avenue, not from the new-development inventory on Fourth Avenue or the co-op stock west of Broadway, both of which carry different economics. Because the residences are large by unit count and few in number, a building average is close to meaningless; the analysis has to be done on the specific plate, floor and exposure.

Two items should be priced explicitly. First, the roll shows no residential exemption; confirm on the apartment's tax bill that no abatement applies before modeling the monthly number. Second, a building whose financial statements were not found in the materials reviewed is a building where the reserve and assessment questions have to be asked directly, and the answers should inform the offer. Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.