Europa (22 West 66th Street)

Europa is a 25-story concrete tower with an upper penthouse level, on a lot about 50 by 100 feet. Because the massing is narrow, the full-floor residences get light at both ends. The offering plan describes a fire-proof concrete structure. Joseph Pell Lombardi & Associates prepared the specifications and certified the floor plans.

The stack is simple. Floors 2 and 3 each have two apartments (A and B). Floors 4 through 24 are one residence per floor, units 4 through 24. The top is a penthouse on the 25th floor with the upper level, which has exclusive use of the roof terrace. Units that open to a balcony or terrace have it as a limited common element (outdoor space reserved for that unit), recorded on the purchase price schedule. At least one pair of adjacent full floors has sold together as a combined purchase. Every unit has its own washer/dryer.

The commercial unit takes part of the lobby floor and cellar, and its roof is part of the unit. A 2005 DOB filing changed its use from a restaurant to a children's studio. The current occupant is not documented in the records we reviewed. The offering plan bars a list of uses from the commercial unit, including night clubs, off-track betting and clinics of certain types.

The building runs with a resident superintendent, building staff and a 24-hour concierge. The 2020 budget provided for seven full-time employees. Labor was by far the largest expense, as is usual for a staffed building with this few units. Because costs are spread across only 25 homes, common charges per unit are high for the size of the building, and buyers should model the full monthly carrying cost.

Capital posture. The audited statements on file show no mortgage on the common elements and a reserve fund of about $525,000 at year-end 2019, down from about $640,000 a year earlier. In 2018 the board levied an assessment of about $1.2 million on residential owners, payable over nine months starting January 2018. It paid for exterior restoration, plumbing, an elevator upgrade and cooling-tower, chimney, security, water-heater and heating work. The auditors note that the governing documents do not require a reserve fund and that no reserve study has been done. Ask for the most recent statements and the current Local Law 11 façade status.

Neighboring construction. Beginning in 2016, the condominium licensed access to the developer of the adjacent site at 36–44 West 66th Street for construction protection and underpinning, in return for monthly license fees plus one-time underpinning payments (audited financial statements). That site is where 50 West 66th Street now stands. Ask whether all protections have been removed and whether any claims remain open.

Tax position. Europa was built with a 421-a benefit. The plan describes a three-year exemption during construction followed by a ten-year declining exemption after completion, and the 1995 budget assumed partial 421-a. That schedule ran off by the mid-2000s. DOF's current rolls show no 421-a or other building-wide exemption. Taxes are at full assessment, less any owner-specific co-op/condo abatement.

Recent sales

Sales sourced from NYC Department of Finance recorded transfers (BBL 1-01118-7502) 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.

Model the carrying cost. Full-time staff and a 24-hour concierge spread over 25 homes produce high common charges for the building's size. Add full-assessment taxes, since the 421-a benefit expired long ago.

Read the last assessment and the reserve. The 2018 assessment paid for a round of capital work, and the reserve fell in 2019. Ask what is planned next.

Confirm the unit count and your unit's legal status. DOB's certificate-of-occupancy records list 24 dwelling units. ACRIS and DOF carry 26 residential lots. Have your attorney confirm that the certificate of occupancy covers your unit as a legal dwelling.

Mansion tax applies. At these price points the 1% mansion tax, and the higher tiers above $2 million, apply. Run the Mansion Tax Calculator.

Lead with the full floor. A private landing, exposures at both ends and deeded ownership a few doors from Central Park West are the pitch. No co-op board means a faster, more certain closing than the prewar alternatives on the avenue.

Clear the right of first refusal early. Submit the waiver request as soon as you sign the contract so it does not delay closing.

If you're considering Europa, also evaluate:

• 50 West 66th Street: the new tower on the same blockfront, the new-development alternative
• The Park Laurel (15 West 63rd Street): a circa-2000 condominium three blocks south, also near Central Park West
• One Lincoln Square (144 Columbus Avenue): a 1995 Lincoln Square condominium from the same period, much larger
• Two Columbus Avenue: a 1998 condominium with about three apartments per floor
• Three Lincoln Center (160 West 66th Street): a 1993 full-service condominium on the same street
• 15 Central Park West: the trophy park-front condominium, the top of the local range
• 10 West 66th Street (Park Ten): the 1969 co-op a few doors east, the co-op alternative