- Year built
- 1940
- Type
- Cooperative
- Units
- 113
- Floors
- 6
229 East 29th Street is a prewar cooperative in the Kips Bay / Rose Hill pocket between Second and Third Avenues, best known for an unusually liberal policy framework. It is frequently described as a "co-op with condo rules": some apartments trade without board approval, subletting is liberal, and pied-à-terre and co-purchase arrangements are welcomed — flexibility that separates it from the typical NYC cooperative.
For buyers who want the pricing of a co-op with a fraction of the usual restriction, the building is a distinctive option. The 1940 prewar bones deliver high ceilings, hardwood floors, and large windows.
Recent sales
Recent transfers at this building, curated by The Roebling Team research desk. Apartment-level facts are independently verified before publishing; sale prices reflect the recorded transfer amount at the NYC Department of Finance.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Jun 26, 2017 | 4F | 1 BR · 650 sf | $678,000 | $1,043/sf | -3.0% |
| Sep 25, 2013 | 4F | 1 BR · 650 sf | $500,000 | $769/sf | -5.7% |
| Sep 12, 2008 | 3O | 1 BR | $535,000 | -4.3% |
Market read. $/sf is measured on the latest sales with reliable square footage (2017): a median $1,043/sf across 1 sale. The building has traded as recently as 2018. Median listing discount 4.3% 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.
Other recent transfers
| Date | Unit | Price |
|---|---|---|
| May 16, 2018 | 3N | $505,000 |
| Aug 27, 2014 | 1I | $502,107 |
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-00910-0014) 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 on co-ops is not officially recorded, figures shown are approximate.
What to know if you’re buying
The flexibility is the story. Liberal-to-unlimited subletting, welcomed pied-à-terre and co-purchase use, and no board approval on some units make this a rare cooperative for investors and non-primary buyers.
Verify the rules on the specific line. Policy latitude varies by apartment; confirm sublet, board-approval, and pied-à-terre terms for the exact unit at diligence.
Prewar bones at an accessible price. High ceilings and large windows in a 1940 building, priced below the trophy inventory nearby.
Service is light-touch. A virtual doorman, not a full attended lobby — factor that into your comparison.
Comparable buildings
- 147 Third Avenue — 1960 postwar Gramercy-border cooperative
- 141 East 55th Street — flexible mid-century Midtown East condominium
- 303 East 57th Street (The Excelsior) — Birnbaum 1967; postwar cooperative
The Roebling Team at 229 East 29th Street
Corey Cohen · The Roebling Team at Compass 646.939.7375 · c.cohen@compass.com
Sources: The Roebling Research Library (offering plans, house rules, financial statements, board minutes, internal transaction records); NYC Department of Finance recorded transfers; publicly recorded NYC building data.
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Gramercy — read The Roebling Team Guide to Gramercy.
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