159 Remsen Street

The building is a seven-story brick elevator apartment house holding, by Department of Finance count, 18 residential units — two to three apartments per floor, prewar Heights scale rather than institutional scale. The Department of Finance's cooperative comparable-rental record tabulates 21 total units across 20,570 gross square feet; the difference is most consistent with ground-floor professional or commercial space carried in the corporation, a common arrangement on this end of Remsen Street where medical and legal tenancies follow the courts. Whether a given apartment sits above such a use, and how the corporation treats that income, are diligence questions with real answers in the financial statements.

Layouts should be evaluated apartment by apartment. At this size and age, line position, exposure and renovation state drive value far more than nominal room counts, and four decades of combinations mean the current share ledger — not the 1982 schedule — governs. Exterior work runs through the Buildings Department alone; there is no Landmarks layer here.

Northeast-Remsen Corporation has run the building since the 1982 closing, with NYC Best Property Management as managing agent per the cooperative's current HPD registration; the corporation's mortgage filings through 2018 carry a care-of address at Sandberg Management Corp., the earlier agent of record in the documents available to us. The operating model is the district's small-building standard: an elevator, a superintendent, and outside management.

The underlying mortgage is the most useful public number here. New York Community Bank has been the lender through the recent history; the debt was consolidated at roughly $1.07 million in June 2012 and refinanced and consolidated to $1.9 million in January 2018. That dated refinancing establishes a recorded debt transaction, not today’s debt burden or financial condition; assess the actual terms, budget and share allocations. Confirm the current balance, maturity and amortization with management, along with the reserve position and assessment history.

Board approval: Standard cooperative purchase application and board interview. Build the timeline into any offer.

Subletting, pets, pied-à-terre, washer-dryer, financing limits and flip tax: None of these are documented in the public records available to us. Request them in writing from the managing agent before contract; have counsel reconcile management’s current written responses with the operative proprietary lease, bylaws, plan and valid amendments.

Exterior alterations: Buildings Department jurisdiction only — no Landmarks review, unlike the Heights inventory west of Clinton Street.

Recent sales

Recent transfers 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. $/sf is measured on the latest sales with reliable square footage (2023): a median $847/sf (floor-adjusted) across 1 sale. The building has traded as recently as 2026. Median listing discount 0.0% from the last ask.

Sales sourced from NYC Department of Finance recorded transfers (BBL 3-00250-0014). 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 on co-ops is not officially recorded, figures shown are approximate.

Confirm the designation status and work scope. Windows, façade and roof work run through the Buildings Department alone. Confirm it for your renovation plan and price it into the offer.

Verify the unit and share ledger. The 18-versus-21 spread between city records is most likely commercial or professional space. Have counsel confirm the corporation's current schedule and the apartment's shares.

Read the underlying mortgage. The recorded $1.9 million consolidation dates to 2018. Obtain the current balance, maturity, payment terms and share allocations before assessing the burden or refinancing exposure.

Ask for every policy in writing. Sublet, pets, financing minimum and flip tax are undocumented publicly. Obtain management’s written responses and have counsel reconcile them with the operative governing documents and valid amendments before contract.

Sell the transit position. Five lines from one corner, Montague a block north, Borough Hall at the end of the street — a checkable advantage over the district's western blocks.

Say that the building is not landmarked. Explain the documented designation status and the approvals required for the buyer’s proposed work, without claiming rarity or a guaranteed value benefit.

Lead with condition. Where line position varies little, documented renovation quality and clean alteration files are the price-makers.

Have the co-op's financials ready. A steady mortgage history and a legible reserve position shorten both buyer diligence and lender underwriting.

If you're considering 159 Remsen Street, also evaluate:

• 138 Remsen Street — brownstone cooperative a block west, inside the historic district; the district-versus-no-district comparison in its clearest form
• 132 Remsen Street — small Remsen Street building at comparable unit count
• 100 Remsen Street — larger elevator cooperative on the same street; verify construction era
• 76 Remsen Street — prewar Remsen Street cooperative peer
• 92 Remsen Street — small Remsen Street cooperative to the west
• 56 Court Street — condominium at the Court Street seam; the ownership-form alternative in the same micro-location
• 110 Livingston Street — full-service condominium conversion two blocks southeast, at the Downtown Brooklyn edge
• 166 Montague Street — Montague corridor building one block north
• 60 State Street — boutique condominium on the district's southern edge