209 Lincoln Place

The building sits on a 66-by-132-foot lot, ten stories and a cellar of fireproof masonry construction, classified as a Class A "New Law" multiple dwelling, with a certificate of occupancy on file since June 1963. It runs one automatic passenger elevator and one manual freight elevator — a service arrangement that was already old-fashioned by the time of the conversion and that shapes how moves and deliveries are handled today.

The 59 apartments follow the late-1920s Brooklyn elevator-building pattern: entry foyers, separated living and sleeping rooms, and unit sizes weighted toward one- and two-bedrooms. Because the building is roughly double the height of its neighbors, exposure and floor drive the inventory more sharply than in the district's six-story stock — the top floors face open sky in every direction, the lower floors face brownstone rear yards and the Lincoln Place streetwall. Windows and any other exterior alteration pass through the Landmarks Preservation Commission under the district designation.

209 Lincoln Place Housing Corp. has run the building since the June 1983 closing. The conversion budget projected a payroll of two service employees against a resident superintendent's apartment, an elevator service contract, and a leased coin laundry — three washing machines and two dryers at the time. That is the operating shape of the building still: a modest staff, a maintained physical plant and no doorman.

Two revenue lines beyond maintenance appear in the corporation's original budget and remain worth examining today: laundry income under a service contract, and rental of the fourteen parking spaces. Parking income at contemporary Park Slope rates is a meaningfully different number than the $25 per month the 1982 plan projected, and how the board prices and allocates those spaces — waitlist, shareholder priority, market rent — is a fair question for any prospective buyer. The Roebling Research Library holds the corporation's financial statements from the conversion era forward, which supports trend analysis on maintenance growth, reserve levels and assessment history.

For a masonry building of this height and age, the recurring capital items are the ones to underwrite: FISP/Local Law 11 façade cycles at ten stories are materially more expensive than at six; elevator modernization; roof, parapet and riser work. Ask for the current capital plan, the last FISP filing and the elevator's modernization history.

Subletting and resale: Under the proprietary lease as filed, a shareholder may sell or sublet with board consent or, if the board refuses, with the consent of holders of at least 65 percent of outstanding shares — a shareholder-override structure characteristic of early-1980s conversion documents. Sponsor-held unsold shares were exempted from that requirement and from certain transaction charges, a distinction with no practical effect once the sponsor's interest is gone. Confirm the current sublet policy, term limits and any sublet fee with the board.

Pets: No formal pet policy appears in the plan documents. The filed house rules require animals to be carried or leashed in elevators and public portions of the building and bar feeding animals from windows and courts. Get the board's current rule in writing.

Financing, flip tax, pied-à-terre and washer-dryer policy: Not documented in the plan as filed; the plan notes only that a financed purchaser is subject to the lender's pledge agreement, which typically restricts sale and sublet while the loan is outstanding. Confirm each against the current house rules and purchase application.

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 (2017): a median $902/sf (floor-adjusted) across 2 sales. The building has traded as recently as 2025. Median listing discount 1.7% 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 3-01059-0061). 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.

Buy the floor. In a ten-story building on a four-story block, elevation is the asset. Confirm the outlook from the actual apartment at the actual hour you care about, and price the difference between floor three and floor nine deliberately.

Ask about the parking lot. Fourteen spaces on the adjoining co-op-owned lot. Establish whether a space conveys, what the waitlist looks like, what the current charge is, and how the board treats the income.

Read the share allocation. With 205 shares issued across 59 apartments, every share-denominated figure deserves a second look — maintenance per share, any per-share fee, and how the apartment's allocation compares with peers of similar size.

Underwrite ten stories of façade. FISP cycles, elevator modernization and roof work at this height cost more than the district's six-story norm. Review the capital plan and assessment history before you set your number.

Get the current policies in writing. Obtain current written answers on subletting, pets and financing, then have counsel reconcile them with the operative proprietary lease, bylaws, plan and valid amendments. Neither the age of the 1982 documents nor management's response alone establishes which terms bind a purchaser.

Lead with the outlook. Photograph the view and state the floor in the first line. That is the building's structural advantage over every six-story competitor between Seventh and Eighth Avenues.

Put the parking in the listing. A co-op-owned fourteen-car lot beside the building is a fact no other Lincoln Place listing can write. Confirm the space's status first, then market it.

Comp by floor, not by building. Averaging the building's sales across ten floors understates an upper-floor apartment and overstates a lower one. Use same-floor and same-exposure comparables from 2025 forward.

Assemble the corporation's record early. A long, continuous financial history from the conversion forward is an underwriting asset with both boards and lenders; have it ready when the buyer's bank asks.

If you're considering 209 Lincoln Place, also evaluate:

• 225 Lincoln Place — the six-story 1920s co-op a few doors east on the same block; the low-rise alternative with a documented flip tax
• 235 Lincoln Place — 1937 co-op on the same block; the later interwar alternative
• 220 Berkeley Place — the 1955 postwar co-op one block south; different plan logic, stricter pet rule
• 140 8th Avenue — the 1936 Art Deco co-op at Carroll Street; the district's largest interwar building
• 39 Plaza Street West — 1927 fourteen-story co-op on Grand Army Plaza, inside the 2016 Extension II; the closest tall-prewar peer
• 35 Prospect Park West — 1929 eighteen-story park-front co-op outside the district; the height-and-view alternative
• 50 Plaza Street East — 1925 twelve-story co-op on Grand Army Plaza
• 10 Plaza Street East — 1959 fifteen-story co-op on the Plaza; the postwar full-service alternative
• 343 4th Avenue — the 2006 Fourth Avenue condominium; condominium ownership and garage parking in the same neighborhood