199 Mott Street

The lot is 4,955 square feet, mid-block, roughly 49 feet wide and 99 feet deep, with the building itself running about 69 feet deep — which is what leaves room for rear outdoor space and the setback terraces. The site is built to a FAR of 4.85 with two retail units at the base, and the Special Little Italy District governs the street wall and the ground-floor use.

Eleven residences across eight floors produces a mix rather than a repeating plate. The offering plan's Schedule A carries a three-bedroom of approximately 2,907 square feet at the base, paired A- and B-line two-bedrooms of roughly 1,225 to 1,229 square feet through the middle of the building, a three-bedroom of approximately 2,894 square feet on the seventh floor, and a penthouse of approximately 3,088 square feet. Roughly 3,120 square feet of exterior space is distributed across the inventory, concentrated at the base and the top. Private deeded basement storage is part of the offering.

Two building-scale features are worth walking. The elevator is keyed, so most residences open directly into the apartment rather than a public landing — a meaningful privacy and layout advantage in an eleven-unit building. And the common roof terrace sits alongside the protected green roof; understand where the usable deck ends and the planted assembly begins, because the house rules prohibit walking on the latter.

The most recent audited financial statements on file cover the year ended December 31, 2020. They are now five years old, and current statements should be requested at diligence — but what they show is structural rather than cyclical, and it is likely still true in outline.

Building-wide common charges were $369,000 for the year, billed at $30,750 per month across all thirteen units. Against that, total operating expenses were $472,064. The single dominant line was security services at $284,009 — roughly sixty percent of the building's entire operating budget. For an eleven-residence condominium, that is an extraordinary concentration, and it is the reason common charges at 199 Mott read high relative to the amenity program. What the money buys is round-the-clock attended coverage in a small building; what it means is that the operating budget has very little discretionary room and almost no diversification.

The consequences show in the balance sheet. The condominium recorded a net loss of $99,457 in 2020 and $24,240 in 2019. Members' equity fell from $103,617 at the end of 2019 to $4,160 at the end of 2020, on total cash of $111,801. The auditors also noted that management had omitted the supplementary information on future major repairs and replacements that generally accepted accounting principles require: the condominium had not conducted a study of the remaining useful lives of common-element components, and the board had not developed a funding plan. Where funds are needed for major work, the available tools are cash, borrowing, an increase in common charges, a special assessment, or deferral.

Two further facts from the statements are worth carrying into a negotiation. The sponsor still owned both commercial units at the end of 2020, carrying roughly eight percent of common charges. And in 2019 the condominium received $34,000 for granting construction access relating to work at the adjoining property at 75 Kenmare Street — a reminder that this is a mid-block lot with an active neighbor.

None of this is a reason to avoid the building. It is a reason to underwrite it properly. Ask for the current audited statements, the current budget, the assessment history since 2020, whether a reserve study has since been commissioned, whether the security staffing model has changed, and whether the sponsor still holds the retail.

Ownership form: Condominium. Purchases close through a right-of-first-refusal waiver rather than a cooperative-style board approval.

Pets: Permitted only with express written consent of the board or managing agent, revocable for nuisance. Pets must be carried or leashed in public portions of the building and are not permitted on the roof.

Smoking: Prohibited throughout the building, including within residences, under the LEED Environmental Tobacco Smoke Control protocol.

Alterations: An Indoor Air Quality and Dust Mitigation Plan must be submitted to and accepted by the board before any work. Vent covering, continuous filtration, and sealed entryways are required; full-floor renovations must additionally seal stairways and elevator passages. Paint, plumbing fixture flow rates, cleaning products and wood sourcing are all specified in the house rules.

Working capital contribution: $5,000 per purchaser at closing under the offering plan. No flip tax appears in the documents on file.

Quiet hours and construction: Amplified sound is restricted between midnight and 7:00 a.m.; instrumental and vocal music between 10:00 p.m. and 9:00 a.m.; renovation work is confined to weekdays, 8:00 a.m. to 5:00 p.m. Eighty percent of the floor area of each residence, kitchens, baths, closets and foyers excepted, must be sound-attenuated.

Real estate taxes: No abatement of any kind. Underwrite full unabated taxes on the specific unit against the current bill.

Recent sales

Recent closings at this building, curated by The Roebling Team research desk. 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 $1,978/sf across 1 sale. Median listing discount 1.0% 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 1-00480-7503) 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.

Read the financial statements before you bid, not after. Security services have historically consumed roughly sixty percent of the operating budget, the building carried very thin equity at the most recent year-end on file, and there was no reserve study and no funding plan. Ask what has changed since.

The LEED rules bind you personally. Paint, plumbing fixtures, cleaning products and renovation air-quality protocols are house rules, not aspirations. Price a renovation accordingly.

Smoking is prohibited inside the apartments. This is unusual and it is enforceable.

Confirm the pet consent in writing before contract. Consent is required, discretionary and revocable.

Ignore the PLUTO area figures for unit-level work. City data reports 17,893 residential and 6,160 commercial square feet; the offering plan carries 18,705 and 4,158. The plan governs.

Ask about the retail. The sponsor owned both commercial units as recently as the last statements on file, and the identity of that ownership affects both governance and the reliability of roughly eight percent of common charges.

Have current audited statements ready. This is the diligence issue at 199 Mott. A seller who produces current financials, a reserve position and an assessment history controls the narrative; a seller who does not will negotiate against the 2020 numbers.

Lead with scarcity and plan. Ground-up construction in Nolita is rare, and a keyed-elevator building of eleven residences with private outdoor space and deeded storage is rarer still.

Position the LEED program as specification, not restriction. Zero-VOC finishes, a green roof, and a smoke-free envelope are genuine building qualities; the house-rule mechanics are what make them durable.

Price against ground-up Nolita, not against conversions. The tenement and loft conversions on the surrounding blocks have entirely different plans, economics and buyer pools.

If you're considering 199 Mott Street, also evaluate:

• 211 Elizabeth Street — Roman and Williams, 2007; the closest peer for boutique ground-up Nolita construction
• 250 Bowery — Morris Adjmi Architects, 2013; contemporary new construction two blocks east, at greater scale
• 11 Prince Street — 1900 building converted to condominium; the prewar Nolita alternative with lower carrying costs
• 8 Prince Street — 1915 building; the small prewar condominium alternative on the same corridor
• 306 Mott Street — 1988 boutique condominium with loft-style layouts; the same street, an earlier generation
• 87 Elizabeth Street — 1880 building; the tenement-scale conversion alternative
• 195 Prince Street — late-19th-century SoHo loft conversion; larger plates, different economics
• 285 Lafayette Street — early-20th-century factory converted to loft condominium; the large-loft counterpoint
• 40 Bleecker Street — 2019 new construction with a full amenity program; the NoHo alternative at a higher service tier
• 199 Chrystie Street — 2020 boutique new construction on the Bowery edge; the closest recent-vintage peer by scale