148 East 24th Street (One48)
148 East 24th Street, New York, NY 10010
BBL 1008797503 · BIN 1088836
- Year built
- 2011
- Type
- Condominium
- Units
- 55
- Floors
- 14
- Landmark
- No
- Amenities
- 24-hour attended lobby, automated (robotic) parking, landscaped roof deck with barbecue area, fitness center, bicycle storage; many residences carry private terraces or balconies
- Financing
- Condominium framework — verify current down-payment and lending posture against the by-laws at offer stage
Every recorded sale at this building, 2012–2026
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf (floor-adjusted)
- $1,387
- Listing discount
- 1.7%
- Recorded sales
- 87
- On record
- 2012–2026
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at One48 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.
One48 is a mid-2000s-conceived, 2011-delivered condominium on a block that most buyers read as the quiet edge of Gramercy where it dissolves into Kips Bay. That in-between location is the whole thesis: the address carries a Gramercy postal identity and a short walk to the park's gates, priced against the more affordable Kips Bay grid immediately east. For a buyer who wants a full-service, elevator, doorman condominium without the price-per-foot of the marquee Gramercy and Flatiron addresses, the building has done consistent work.
The building's defining physical feature is its stepped western elevation. Rather than a flat curtain wall, the tower recedes in terraces as it rises, and those setbacks convert into private outdoor space for the apartments behind them — an unusually high ratio of terraced homes for a building of this scale. The second signature is functional rather than aesthetic: an automated parking system, a robotic garage that stacks vehicles mechanically and remains a genuine amenity in a corridor where on-street parking is effectively nonexistent.
For buyers, One48 reads as a straightforward proposition — a doorman condo of about 55 homes, delivered new in 2011, with a real amenity stack and a location that trades a marquee Gramercy address for value and proximity.
Architecture and unit composition
The building rises 14 stories in masonry and glass, with the terraced western face giving the tower its identity from the street. The 55 residences run from studios through two-bedrooms, and the setback geometry means a meaningful share of homes carry private terraces or balconies — the outdoor space is the composition's organizing idea rather than an afterthought. Interiors were delivered to a 2011 new-construction standard: open kitchens, hardwood floors, and in-unit laundry in many layouts. Buyers should confirm outdoor-space dimensions and exposure at the unit level, since the terraces vary substantially floor to floor with the stepped elevation.
Building operations
One48 operates as a staffed condominium: a 24-hour attended lobby, a fitness center, a landscaped roof deck with a barbecue area, bicycle storage, and the automated parking garage. That is a fuller service package than the boutique condos elsewhere downtown carry, and the common-charge budget reflects a real staff and amenity load spread across 55 owners. Buyers should review the budget, reserve posture, and any tax-abatement status during diligence — a portion of the building's early inventory carried a 421-a tax abatement, and the remaining runway on any abatement materially affects monthly carry. We obtain current building documents from the managing agent for clients at offer stage.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $13,047/yr
- Per unit / month range
- $0 – $20
- Modeled exposure split equally across 55 units (the city tax-lot count). Not an assessed amount; co-op shareholders are typically charged by share allocation.
Source: NYC LL84 benchmarking and PLUTO · The Roebling Research Library. City record last verified September 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →Facade safety — Local Law 11
The latest available FISP filing classified the facade as Safe — no repairs were required at that inspection. Facade inspections run on a fixed five-year cycle; future inspection, repair, and any assessment decisions remain building-specific.
How to read this, and where it comes from
QEWI = Qualified Exterior Wall Inspector — the licensed engineer the city requires to sign the report (the independent expert, not the managing agent).
Penalties shown are amounts DOB assessed against filings on record across 2015–20 to 2020–25. The FISP dataset does not record whether they were paid, contested or remain open, so treat the figure as history rather than a current balance and confirm the building’s standing with the managing agent.
Source: NYC DOB facade filings (FISP) · The Roebling Research Library. City record last verified September 2026.
421-a Tax Abatement
- Last year of benefit
- FY2022
- Fully taxed from
- FY2023 (2022–23)
- Program
- 421-a (10-year)
The 421-a benefit has run its term. Taxes on these units have stepped up toward the full assessed amount, so the low carrying cost this building once carried is no longer available. Price from the current tax bill, and treat any comparable sale made while the abatement was still running as a different asset.
Source: NYC Dept. of Finance property-tax exemption records (421-a), refreshed 2026-09-06 · The Roebling Research Library. Confirm the exact step-up schedule on the building’s DOF tax bill. Years shown are NYC tax years, which start July 1 — FY2023 runs July 1, 2022 to June 30, 2023. The benefit last appears on the 2022 assessment roll, which is what dates the end of the term.
The 421-a Expiration Wave — our study of when these benefits expire citywide, and what the resale record shows about pricing as they do.
Management & transfer contacts
- Flip tax
- No
- Sublet policy
- Allowed
- Pied-à-terre
- Allowed
- Notable fees
- Min Down Payment: 10%
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.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| May 12, 2026 | 15A | 2 BR · 2 BA · 1,040 sf | $1,800,000 | $1,731/sf | -2.7% |
| Mar 19, 2026 | 3D | 1 BA · 457 sf | $590,000 | $1,291/sf | -1.5% |
| Sep 3, 2025 | 5C | 585 sf | $765,000 | $1,308/sf | off-mkt |
| Aug 18, 2025 | 4C | 500 sf | $638,000 | $1,276/sf | -1.8% |
| Jun 18, 2025 | 15C | 1 BR · 1 BA · 681 sf | $999,000 | $1,467/sf | +0.0% |
| Mar 18, 2025 | 14A | 2 BR · 2 BA · 1,085 sf | $1,320,000 | $1,217/sf | +0.0% |
| Jun 26, 2024 | 3C | 1 BA · 500 sf | $635,000 | $1,270/sf | -2.3% |
| Jul 10, 2023 | 11B | 1 BA · 460 sf | $690,000 | $1,500/sf | -11.0% |
Market read. Most recent trades (2026) cleared a median $1,387/sf (floor-adjusted) across 2 sales. Floor-adjusted means each sale is restated to a constant mix of floors, so the figure can differ from the plain median of the sales listed above. Median listing discount 1.7% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Full closing history with price-per-square-foot over time, the complete retrade record, and every line that has traded.
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-00879-7503). 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.
Closed rents at One48, last 36 months
| Size | Leases | Median / month |
|---|---|---|
| Studio | 2 | $3,825 |
4 closed leases, October 2023 to September 2026. Most recent lease May 2026. Based on few leases. Sizes with fewer than 2 leases are not shown. Compiled by The Roebling Team at Compass from closed leases.
At the recent median sale of $999K (6 sales since 2024), a buyer putting 25% down would pay about $35,811 to close, or 3.6% of the price.
- Mansion tax: $0
- Mortgage recording tax: $14,423
- Title insurance: $4,496
- Attorneys, lender, building fees, reserves and filings: $16,893
Assumes a resale (the seller pays transfer taxes), a $4,500 attorney fee and a mortgage on the rest.
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What to know if you’re buying
The terrace is the product. With a stepped elevation, outdoor space varies dramatically floor to floor. Two otherwise similar apartments can price very differently on the strength of their terrace — confirm the outdoor dimensions and exposure before you anchor on a per-foot number.
Check the abatement clock. Portions of the building were delivered with a 421-a tax abatement. Where a unit sits on that phase-out schedule changes the real monthly carry meaningfully — run the True Monthly Carrying Cost Calculator with the actual current tax line, not the abated one.
The automated garage is a real amenity — price it. Robotic parking in this corridor is scarce and valuable. If a parking license or space is part of the deal, confirm its terms, cost, and transferability.
Location is Gramercy-adjacent, not Gramercy-core. East of Lexington the block reads as the Kips Bay seam. That is the value argument and the objection at once — walk the block and weigh the trade honestly against the marquee addresses to the west.
Mansion tax may apply at the top of the building. Larger two-bedroom and terraced inventory can cross the $1 million threshold — run the Mansion Tax Calculator at the intended price before offering.
What to know if you’re selling
Lead with the outdoor space and the service package. The terraced homes and the full amenity stack — doorman, roof deck, gym, robotic parking — are what separate One48 from the Kips Bay rental-grade competition. Market those, not raw square footage.
Comp within the building first, then the corridor. With 55 units and a tight layout mix, One48's own history anchors pricing well; adjust across otherwise-similar homes primarily for terrace and floor.
Be precise about the tax line. Abatement phase-out status is the single most common source of confusion in this building's carry math. Present the current, accurate figure — buyers who discover a step-up late in diligence renegotiate.
Comparable buildings
If you're considering 148 East 24th Street, also evaluate:
- Gramercy Square (215 East 19th Street) — the master-planned full-amenity condominium a few blocks north; the larger-format alternative
- The Anthem (222 East 34th Street) — full-service Kips Bay condominium; the value-corridor comparison
- One Madison / Madison Square Park condos — the marquee Flatiron-edge alternative at a per-foot premium
- 300 East 23rd Street — full-service condominium on the same corridor to the east
- Gramercy Starck (340 East 23rd Street) — Philippe Starck-designed condominium a short walk east
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 One48?
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