142 West 19th Street (142Flatiron)

The new-building application on file proposes seven stories at 67 feet and seven dwelling units on a 2,208-square-foot lot, with roughly 12,100 zoning square feet — an interior-lot building on a block of nineteenth-century low-rise stock and mid-century infill. Published development records describe poured-in-place concrete construction, a heavier structural specification than a light frame; confirm floor-to-floor sound ratings in the offering plan's construction description.

The stack runs a townhouse-style residence at the base, five full-floor homes above it, and a penthouse at the top. The Department of Finance schedule numbers them apartments 1 through 6 plus PH, one to a tax lot. Full-floor plates on a narrow interior lot mean windows at the front and rear and solid party walls on both flanks, so exposure is a front-and-back proposition rather than a corner one. Buyers should establish which openings in a given residence are lot-line windows and what the adjacent parcels could support, because the neighboring parcels outside the Ladies' Mile district carry no landmark protection and the FAR here is not built out.

Outdoor space is the differentiator between residences: the rear yard is landscaped and the roof deck carries an outdoor kitchen and seating, per published development records. Whether either is a common element or assigned as a limited common element to a specific residence is not established in the material available to us, and it should be confirmed against the declaration and the offering plan before an offer is made — it is worth a substantial amount of money on the penthouse and the base residence.

Seven residences is a very small denominator, and everything about the building's operation follows from it. There is no documented doorman, concierge or resident staff. Fixed costs are correspondingly low, and a façade cycle, an elevator overhaul or a roof replacement in a seven-unit condominium is spread across seven residences; review the reserve, budget, debt and any planned assessments to see how such work would be funded.

Because no offering plan and no financial statements for this condominium were located in either document library, the reserve position, the first-year budget as offered, the current common-charge schedule and any assessment history are not documented here. A buyer's attorney should obtain the offering plan and its amendments, the last two years of financial statements, the current budget and the board minutes from the managing agent. Review the sponsor’s construction warranties and any punch-list or defect claims alongside financials, title, operating arrangements and capital needs; age and unit count do not establish which risk is greatest. We did not establish those warranties or claims from the materials reviewed.

Ownership form: Condominium. There is no co-op board admission; purchases run through the condominium's application and right-of-first-refusal process. Closing timing depends on that process, the lender and the parties.

Individual ownership is confirmed. Recorded deeds show seven separate sponsor conveyances between February 2024 and January 2025, each recorded in ACRIS as property type SC — single residential condominium unit — to seven distinct purchasers, followed by ordinary resale and refinancing activity. Ownership on the FY2027 tax roll is spread across individuals, revocable trusts, a family limited partnership and single-purpose LLCs. This is a for-sale condominium, not a sponsor-held rental in a condominium wrapper.

Pied-à-terre, subletting, entity and foreign purchasers: Pied-à-terre use and leasing are permitted; entity and foreign purchases are not documented — confirm them, along with minimum lease terms and any sublet notice requirements, against the by-laws.

Financing: 90% of the purchase price. Lenders will apply their own concentration and presale tests to a seven-unit building — a buyer financing here should get the lender comfortable with the building early, not late.

Flip tax: Not documented in public records. Confirm any resale capital contribution with the managing agent before pricing a sale.

Real estate taxes: The roll shows no exemption on any unit lot in FY2021 through FY2027; check the specific residence's tax bill for any abatement and run True Monthly Carrying Cost analysis against the current bill.

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 (2025) cleared a median $1,316/sf (recorded) across 1 sale. Median listing discount 4.8% 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 1-00794-7505; 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.

Model full taxes. There is no abatement on the roll, no phase-out schedule and no scheduled step-up. Underwrite the current bill for the specific unit, and allow for taxes, common charges and assessments to change.

Get the offering plan. No plan for this condominium is on file with us. Review it together with the recorded declaration, amendments and current financials to establish outdoor-space rights, common-charge percentages, sponsor warranties and reserve funding; absence from our library does not establish that the information is unavailable publicly.

Establish who owns the roof and the yard. In a seven-unit building the difference between a common roof deck and a limited common element assigned to the penthouse is a six-figure valuation question. Read it in the declaration, not in the marketing.

Underwrite the assessment risk of a seven-unit building. Check the reserves; do not assume them. Ask for the current reserve balance, the capital plan and any completed or contemplated assessment.

Check the lot lines and the neighbors. Parts of this block are in the Ladies' Mile Historic District, but this lot and the undesignated parcels beside it are not, and this building did not use its full permitted floor area. Understand which of your windows are lot-line windows and what could be built beside them.

Bring your lender in early. A seven-unit condominium is a small project by underwriting standards. Confirm the building clears your lender's condominium review before you are in contract.

The name says Flatiron; the address is Chelsea. It changes nothing about the apartment and everything about how you search for comparables.

Lead with the full floor and the tax posture. Private-floor living with no shared corridor, in a concrete building with six neighbors, and a tax line with no abatement phase-out ahead.

Present the tax posture yourself. Sophisticated buyers and their attorneys will find it. Framing full taxes as the absence of a scheduled abatement step-up — not as a fixed cost — and pairing it with True Monthly Carrying Cost analysis produces a better outcome than letting it surface in diligence as a negative.

Do not comp against the serviced buildings. The nearby full-service condominiums carry doormen, gyms and, in several cases, tax benefits. The comparable set is boutique and loft product.

Same-building comps are almost nonexistent. With seven residences and a 2024–25 sellout, pricing is a line-by-line exercise. Build the case from floor, outdoor space and condition.

If you're considering 142 West 19th Street, also evaluate:

• 130 West 19th Street — 2005 condominium of 64 residences on the same block; the full-service alternative next door
• 121 West 19th Street — a 1903 loft converted to condominium in 2005, 67 residences; the loft alternative directly across the street
• 241 West 19th Street — roughly 19 residences in a 2006–07 ground-up condominium; the closest boutique new-construction peer on the same street
• 155 West 18th Street — 2016 new construction, 30 residences; the newer small-format alternative one block south
• 163 West 18th Street — 2006 condominium of roughly 29 residences at two to three homes per floor
• 144 West 18th Street — a 1910 loft converted to condominium in 2002, 18 residences; boutique scale with prewar proportions
• 166 West 18th Street — 2008 new construction of roughly 38 to 41 residences
• 129 West 20th Street — 15 residences in a loft converted circa 1999–2000; the smallest comparable building in the corridor
• 121 West 20th Street — an 1890s loft converted to condominium in 1991, 28 residences plus a commercial unit
• 16 West 19th Street — a 1907 commercial loft converted to condominium, 57 residences; the large-format loft alternative toward Flatiron