225 Rector Place (Rector Square)
225 Rector Place, New York, NY 10280
BBL 1000167515 · BIN 1000053
- Year built
- 1986
- Type
- Condominium
- Units
- 289
- Floors
- 24
- Amenities
- 24-hour attended lobby, a two-story fitness center, a yoga studio, an indoor atrium-style swimming pool, a steam room, a residents' lounge, a children's playroom, bike storage, and a landscaped roof deck with lounge seating, grilling stations, and Hudson River, Statue of Liberty, and downtown-skyline views
- Flip tax
- Not documented here — verify against the by-laws at offer stage
- Land
- Ground lease; the building sits on leased land
- The Roebling Team's building profile
- Landmark status
- Not an individual landmark; not in a historic district
- NYC Landmarks Preservation Commission and City Planning records, updated February 2026
- Pets
- Pets permitted; species and limits not stated
- Doorman
- Full-time doorman
Every recorded sale at this building, 2008–2026
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf, 2026 to date
- $1,190
- floor-adjusted, 7 sales
- Listing discount
- 1.0%
- Recorded sales
- 435
- On record
- 2008–2026
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at Rector Square would likely sell for today, what it costs to sell, and what you’d walk away with — reviewed personally against condition, exposures, renovation quality, and the competition actually on the market.
Rector Square is one of Battery Park City's larger for-sale condominiums — roughly 289 residences in a red-brick building one block from the Hudson on Rector Place. It began life in 1986 as the Parc Place rental building and was taken down to a gut renovation and converted to condominium ownership in 2008, emerging with refinished interiors, a deep amenity package, and a landscaped roof deck looking out over the river, the Statue of Liberty, and the downtown skyline.
The building's thesis is neighborhood plus amenity depth at a Lower Manhattan per-foot below the trophy waterfront towers. For a building of this size to carry an indoor pool, a two-story fitness center, a yoga studio, a residents' lounge, a children's playroom, and a full roof deck is a genuine draw. It appeals to buyers who want full-service Battery Park City living — quiet, park-laced streets, Hudson River Park and the esplanade at the doorstep, and a short walk to the Financial District and downtown transit.
There is, however, a fact about this building — and every residential building in Battery Park City — that no buyer can skip: the land underneath it is leased, not owned. That single structural feature shapes the carrying costs, the financing, and the resale math more than any amenity does, and it is the lead diligence item for anyone buying here.
Architecture and unit composition
The building is a red-brick Battery Park City mid-rise of 24 stories, originally designed by Gruzen Samton Steinglass in 1986. The 2008 conversion, led by Richard J. DeMarco with residential interiors by Clodagh, refinished the roughly 289 residences — refinished floors and updated kitchens and baths — and rebuilt the amenity program. Layouts run from studios through larger family-sized homes; higher floors and river-facing lines carry the Hudson, harbor, and skyline exposures the roof deck is known for. As with any converted building, renovation quality and finish level vary line to line, so confirm the specific unit.
Building operations
Rector Square runs as a full-service condominium: a 24-hour attended lobby, a two-story fitness center, a yoga studio, an indoor atrium-style swimming pool, a steam room, a residents' lounge, a children's playroom, bike storage, and a landscaped roof deck with lounge seating and grilling stations. Common charges reflect the amenity depth; the ground rent and PILOT are carried separately and are the larger variable over a long hold. The offering plan, current house rules, and the ground lease are on file in The Roebling Research Library.
The ground lease — read this first
Battery Park City sits on land controlled by the Battery Park City Authority (BPCA), a New York State entity. Buildings here do not own their land; they hold it under long-term ground leases from the BPCA, and residents pay ground rent plus payments in lieu of taxes (PILOT) rather than the ordinary real property taxes paid elsewhere in the city. At Rector Square, that means a unit owner's monthly carry is common charges plus a share of the building's ground rent and PILOT — not the simpler common-charges-plus-property-tax structure of a fee-simple condominium.
Three points matter for underwriting:
The lease has a horizon. The BPCA's original master arrangement ran toward a 2069 expiration, and historically no individual building's ground lease could extend beyond that date. New York State has since extended the master lease with the City of New York toward 2119 — fifty years further out — but the master lease and an individual building's ground lease are distinct instruments. Confirm this building's actual ground-lease expiration and any extension terms against the ground lease itself before you commit; do not assume the 2119 headline applies unchanged at the building level.
Ground rent and PILOT escalate. Both ground rent and PILOT move on schedules and resets defined in the lease and related agreements. The number you see today is not the number for the full hold. Model the escalations, not just the current monthly figure.
Financing is term-sensitive. Lenders underwrite land-lease condominiums against the remaining ground-lease term. As the remaining term shortens, some buyers report tighter financing terms and a smaller pool of willing lenders. The extension toward 2119 helps the neighborhood's long-run picture, but your lender will still price the specific term on this building's lease. Confirm financing early.
None of this makes Rector Square a poor purchase — Battery Park City has traded actively for decades on exactly these terms. It does make the ground lease the first document to read, not the last, and the reason the per-foot here sits below comparable fee-simple product.
Pets and in-unit washer/dryer
- Pets
- Pets permitted; species and limits not statedSource: The Roebling Team's building profile
- In-unit washer/dryer
- Not verified
Considering an apartment here? Send Corey the listing to confirm the pet and washer/dryer rules for that apartment.
Own an apartment here? Request an apartment-specific pricing review.
Monthly carrying charges in recent sales
- Common charges + taxes, per room
- $660 per room a monthMedian of 19 recorded sales since October 2023Source: recorded sales, refreshed October 2026
- Common charges + taxes, per square foot
- $2.76 per square foot a monthMedian of 18 recorded sales since October 2023Source: recorded sales, refreshed October 2026
- Common charges alone, per square foot
- $1.21 per square foot a monthMedian of 29 listings since October 2023 that give the annual taxSource: listing records, refreshed October 2026
- Real estate taxes alone, per square foot
- $1.42 per square foot a monthMedian of 29 listings since October 2023 that give the annual taxSource: listing records, refreshed October 2026
Common charges plus real estate taxes, combined into one monthly figure the way New York condominium listings show them. Add a mortgage payment for the monthly outlay. The split into common charges and taxes comes from the listings that also give the annual tax, a different sample, so the two lines need not add up exactly to the combined median; a tax abatement can hold taxes below the full amount until it expires. A summary of recorded sales and listings, not a current bill; charges change.
Building staffing and amenities
- Doorman
- Full-time doormanSource: recent listing records
- Concierge
- YesSource: recent listing records
- Attended lobby
- YesSource: The Roebling Team's building profile
- Elevator
- YesSource: NYC Department of Buildings elevator records
- Amenities noted
- Fitness room, pool, spa, residents' lounge, playroom, roof deck, bike storageSource: The Roebling Team's building profile
Staffing and amenities as our building profile and recent listing records describe them. A feature not listed is not confirmed absent.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $41,116/yr
- Per unit / month range
- $0 – $12
- Modeled exposure split equally across 285 units (the residential count on the city's lot record). Not an assessed amount; condominium owners are typically charged by each unit's common-interest percentage.
Source: NYC LL84 benchmarking and PLUTO · The Roebling Research Library. City record last verified September 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →Facade safety — Local Law 11
The latest available FISP filing classified the facade as Safe — no repairs were required at that inspection. Facade inspections run on a fixed five-year cycle; future inspection, repair, and any assessment decisions remain building-specific.
How to read this, and where it comes from
QEWI = Qualified Exterior Wall Inspector — the licensed engineer the city requires to sign the report (the independent expert, not the managing agent).
Penalties shown are amounts DOB assessed against filings on record across 2005–10 to 2020–25. The FISP dataset does not record whether they were paid, contested or remain open, so treat the figure as history rather than a current balance and confirm the building’s standing with the managing agent.
Source: NYC DOB facade filings (FISP) · The Roebling Research Library. City record last verified September 2026.
Recent sales
Rector Square trades in the Battery Park City condominium market, where the land-lease structure keeps the per-square-foot below comparable fee-simple product in Lower Manhattan while delivering full-service, amenity-rich waterfront living. Buyers here are pricing carrying costs — common charges plus ground rent plus PILOT — against a lower entry per foot, and the trade-off shifts with each ground-rent reset and with the remaining lease term. Apartment-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
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.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Sep 21, 2026 | 11S | 1 BA · 621 sf | $675,000 | $1,087/sf | -6.3% |
| Jun 26, 2026 | 6B | 1 BA · 576 sf | $660,000 | $1,146/sf | -4.3% |
| May 11, 2026 | 12R | 1 BR · 1 BA · 698 sf | $795,000 | $1,139/sf | -6.3% |
| May 1, 2026 | 5K | 3 BR · 2 BA · 1,376 sf | $1,800,000 | $1,308/sf | -6.5% |
| Apr 22, 2026 | 19E | 1 BR · 1 BA · 689 sf | $910,000 | $1,321/sf | -1.6% |
| Apr 20, 2026 | 2DD | 1 BA · 550 sf | $600,000 | $1,091/sf | +0.0% |
| Mar 11, 2026 | 2K | 1 BA · 522 sf | $605,000 | $1,159/sf | -4.7% |
| Dec 3, 2025 | 22A | 1 BR · 1 BA · 761 sf | $890,000 | $1,170/sf | -7.8% |
Market read. Most recent trades (2026 to date) cleared a median $1,190/sf (floor-adjusted) across 7 sales. 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 1.0% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Full closing history with price-per-square-foot over time, the complete retrade record, and every line that has traded.
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-00016-7515). 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.
Closed rents at Rector Square, last 36 months
| Size | Leases | Median / month |
|---|---|---|
| Studio | 8 | $4,150 |
| 1 bedroom | 32 | $4,950 |
| 2 bedroom | 2 | $9,000 |
| 3 bedroom | 3 | $11,500 |
45 closed leases, October 2023 to September 2026. Most recent lease September 2026. Sizes with fewer than 2 leases are not shown. Compiled by The Roebling Team at Compass from closed leases.
What would your apartment rent for?
The figures above are the building's closed leases. Enter your apartment and I'll send you what yours would rent for, from comparable leases at Rector Square and nearby.
At the recent median sale of $875K (14 sales since 2024), a buyer putting 25% down would pay about $32,552 to close, or 3.7% of the price.
- Mansion tax: $0
- Mortgage recording tax: $12,633
- Title insurance: $3,937
- Attorneys, lender, building fees, reserves and filings: $15,981
Assumes a resale (the seller pays transfer taxes), a $4,500 attorney fee and a mortgage on the rest.
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What to know if you’re buying
Read the ground lease first. This is a land-lease condominium. Confirm the remaining term, the ground-rent and PILOT schedules and resets, and how they flow to your unit before anything else. It drives your carry and your financing more than any amenity.
Model the full carry, escalations included. Common charges plus ground rent plus PILOT — and PILOT and ground rent escalate on defined schedules. Underwrite the number for your full hold, not just year one.
Confirm financing early. Lenders price land-lease condos against the remaining lease term. Line up your lender and confirm terms before you fall in love with a unit.
Underwrite the amenity value honestly. The indoor pool, two-story gym, lounge, and roof deck are a real package in a building this size. If you will use them, the monthly buys more than the number suggests; if you will not, you are subsidizing neighbors who do.
Confirm the exposure line by line. River, harbor, and skyline views vary substantially by floor and orientation; a Rector Place-facing line is a different apartment than a Hudson-facing one.
What to know if you’re selling
Get ahead of the ground-lease question. Serious Battery Park City buyers will ask about term, ground rent, and PILOT on day one. Have the current figures and the ground lease ready — a clear, documented answer widens your buyer pool.
The amenity stack and the roof deck are the marketing story. Lead with the pool, the two-story fitness center, and the river-view roof deck — they are deeper than much of the vintage.
Position within Battery Park City, not against fee-simple downtown. Your comparable set is the neighborhood's other land-lease condominiums, where buyers already understand and price the structure.
High floors and river exposure carry the premium. View, floor, and orientation drive the per-foot spread here.
Closing timelines are condo-fast. 30 to 45 days from contract to closing, once financing clears the ground-lease review.
Comparable buildings
- Liberty Court (200 Rector Place) — neighboring Rector Place land-lease condominium tower
- 300 Rector Place — nearby Rector Place Battery Park City condominium
- 99 Battery Place — Battery Park City condominium near Battery Place
- The Cove Club — a Polshek-designed waterfront condominium
- 2 River Terrace — northern Battery Park City condominium on the river
- 250 South End Avenue — Battery Park City condominium on South End Avenue
More Battery Park City buildings
- 200 Rector Place (Liberty Court) — 1987 condominium
- Tribeca Green (210 Warren Street), 210 Warren Street a — 2004 condop by Robert A.M. Stern Architects
- River & Warren, 212 Warren Street — 2001 condominium by CetraRuddy Architects
- 250 South End Avenue (Hudson View East) — 1986 condominium
- The Soundings (280 Rector Place) — 1987 condominium
- 300 Rector Place (Battery Pointe) — 1986 condominium
The neighborhood
For the full corridor — architecture, transit, and pricing across Battery Park City — read The Roebling Team Guide to Battery Park City.
How to read the facts on this page. Items attributed to an offering plan describe the building as it was offered at that filing — unit mix, square footage, the amenity program as planned. They are not a statement about how the building operates today. Tax and compliance figures are sourced separately to current City records and carry their own dates. House rules, staffing and fee policy can change by board resolution without any public filing: treat every policy line here as a starting point for diligence and confirm it with the managing agent. Where this page compares one building or neighborhood to another, that is our analysis of the recorded record — it names the measure, the period and the sample it rests on, and it is an observation about medians rather than a prediction about any particular apartment.
Considering a move at Rector Square?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.
646.939.7375 · c.cohen@compass.com