150 South 1st Street (Bedford Court)

Bedford Court is a five-story building on a lot of about 13,000 square feet, with roughly 28,300 square feet of residential floor area and 5,400 square feet of commercial space, per PLUTO. Divided by the 32 apartments, that is under 900 gross square feet per residence. Gross figures include halls and common areas, so actual apartment sizes run smaller; confirm each unit's area against the offering plan's Schedule A.

The unit schedule, per ACRIS:

• First floor: three residences, 1A–1C, beside the two commercial units on Bedford Avenue.
• Second and third floors: ten and nine residences, lettered A through K.
• Fourth floor: ten residences, four of which (4D, 4E, 4F and 4H) carry a "DT" suffix in the unit legals. The suffix and the building's five-story DOB filing are consistent with top-floor duplex units with terrace space; confirm layout against the floor plans before relying on it.

The parking units are separately deeded condominium units. Several were sold by the sponsor bundled with an apartment on the same deed. Today twelve are held by individual owners, seven by a parking operator and three by the condominium itself, per ACRIS. A listing that includes a space is selling two conveyances.

The records reviewed do not document staffing, common charges or reserves; request them from the managing agent. At five stories, Bedford Court sits below the six-story threshold for New York City's periodic façade inspection program (FISP, also called Local Law 11). DOB and ECB records show no façade or structural violations against the building. The only open item in ECB records is a 2012 violation for an expired sidewalk-fence permit, which a buyer's attorney should confirm has been cleared.

The Department of Finance records a 421-a exemption (DOF code 5114), 25-year term, with 2005/06 as the first benefit year and 2002 as the base year, on every residential, commercial and parking unit. The 421-a exempts the increase in assessed value created by new construction, so the owner pays tax only on the pre-construction base during the full-benefit years.

The schedule, read from the exemption rolls:

• 2005/06 through 2025/26: full exemption on the increase in assessed value.
• 2026/27: the exemption on the current roll is exactly 80 percent of the prior year's, the first phase-down step.
• 2027/28 through 2029/30: under the program's standard 25-year schedule, 60, 40 and 20 percent.
• 2030/31: fully taxed.

The later steps are the program's scheduled phase-down, not yet on a published roll. Buyers should get the current tax bill and the unit's exemption detail from the Department of Finance, and model the carrying cost at full taxes for any hold longer than four years.

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 $1,472/sf (floor-adjusted) across 1 sale. 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 0.0% 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 3-02406-7501; 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 taxes at the full amount. The abatement is already stepping down. Ask for the current tax bill and project each remaining year to 2030/31.

Confirm the parking deed. If a space is included, it is a separate unit with its own tax lot, taxes and common charges. Make sure the contract and title report cover both lots.

Get the condominium documents early. No offering plan or financial statements were available for this review. Request the budget, the most recent audited statements, the bylaws and house rules, and the board's resale procedure (usually a right of first refusal) from the managing agent.

Check the commercial units. The two Bedford Avenue commercial units are part of the condominium. Ask how their common-charge share and use restrictions are set in the declaration.

Get ahead of the tax question. A buyer's lender and attorney will find the phase-out. Present the current bill and the schedule to 2030/31 yourself so it does not reopen price late in the deal.

Sell parking with the apartment where you can. If you own a deeded space, offering it with the apartment gives buyers something most comparable Southside listings cannot, and it avoids a separate small sale later.

If you're considering 150 South 1st Street, also evaluate:

• 242 South 1st Street (Lofts1) — a 23-residence loft conversion on the same street, fully taxed
• 46 South 2nd Street — a 23-residence 2011 new-construction condominium a few blocks west
• 80 Roebling Street — a 36-residence 2006 Southside new building
• 34 South 9th Street — a 21-residence 2015 Southside condominium
• 26 Broadway — a 32-residence 2006 condominium at the south edge of the Southside
• 14 Hope Street — a 23-residence 2008 condominium off Grand Street
• 24 Dunham Place — a 14-residence 2006 condominium nearby
• 338 Berry Street (The Williamsberry) — a larger Southside loft conversion