- 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
- $1,394
- Listing discount
- 2.8%
- Recorded sales
- 82
- On record
- 2012–2026
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.
Recent sales
Recent closings at this building, curated by The Roebling Team research desk. Apartment-level facts are independently verified before publishing; sale prices reflect the recorded transfer amount at the NYC Department of Finance.
| 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 | off-mkt |
| Mar 18, 2025 | 14A | 2 BR · 2 BA · 1,085 sf | $1,320,000 | $1,217/sf | off-mkt |
| 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 $1,394/sf across 2 sales. Median listing discount 2.8% 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) and verified listing data. Apartment-level facts (line, condition, asking-price context) curated and cross-verified by The Roebling Team research desk. 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.
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
The Roebling Team at One48
The Roebling Team at Compass works Gramercy, Flatiron, and the broader Midtown-adjacent condo market as a core practice area. We publish this building profile because full-service condo buyers and sellers deserve building-specific intelligence — abatement math, terrace-driven pricing, and corridor-level comparables — not generic neighborhood commentary.
If you're considering a transaction at 148 East 24th Street, a 30-minute consultation is the right starting point.
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Gramercy — read The Roebling Team Guide to Gramercy.
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