230 Park Place

The building presents roughly 175 feet of frontage to Park Place and runs about 115 feet deep on a 22,925-square-foot lot, with approximately 114,500 square feet of building area — a large, low, wide building by the standards of the block it sits on. The recessed core and courtyard entrance mean that the apartment stock divides into street-facing lines and courtyard lines, and the difference in light, quiet and outlook between them is real and is priced.

The 1985 Schedule A calculated room counts using the Real Estate Board of New York method, which counts half-rooms — a detail worth knowing when comparing this building's room-count marketing against a co-op that used a different convention. Apartments here are 1930s middle-class plans: entry foyers, defined rooms, separated sleeping and living zones, and the proportions of a period when a six-story elevator building was a step up from a walk-up flat rather than a luxury product. Several have been combined or reconfigured over four decades of cooperative ownership, so the original share allocation is an imperfect guide to what a given apartment is today.

Inside this historic district, interior work requiring a DOB permit also needs LPC permission, often a Certificate of No Effect where protected features are unaffected. Exterior alterations, including non-visible work, generally require LPC permission, while some ordinary maintenance is exempt. Scope and compliance with LPC rules determine staff approval or Commission review; obtain the applicable LPC, board and DOB permissions before work.

At conversion the building ran on a lean staff — one superintendent, a part-time handyman and a part-time evening doorman working Monday through Saturday, with the employees organized under Factory and Building Employees Union, Local 187 — and on a first-year budget of roughly $359,000 against 9,759 shares. Laundry was a leased concession. The managing agent named in the plan, Galster Management Corp., was owned by the sponsor's own principals, a related-party arrangement disclosed in the plan and standard for the era but no longer descriptive of the building. Confirm the current agent, staffing and service contracts with management.

The building's tax history at conversion ran through the J-51 program: the city granted abatements against two certified reasonable costs totalling $38,200, worth about $3,183 a year and projected to be exhausted around July 1994, with a possible twelve-year exemption on improvement-related assessed value running to mid-1997. All of that is long expired. The building pays full freight today, and a buyer should pull the current assessment and per-share tax allocation rather than reasoning from the conversion documents.

Review façade condition, elevator modernization, roof and parapet, heating, and courtyard and areaway drainage alongside financial statements, assessments and reserves. DOB generally applies FISP above six stories; confirm actual height and applicability to this stated six-story building before requesting statutory cycle filings. Applicable LPC permissions remain a separate part of planning exterior work.

Transfers and subletting: Under the plan as filed, a shareholder has the right to sell or sublet, but the board of directors and/or the shareholders may withhold approval, and the plan states expressly that a refusal may be unreasonable so long as it complies with applicable civil rights law. This is the standard New York cooperative posture; what matters in practice is the board's current sublet policy, term limits and application standards. Get them in writing at the application stage.

Superintendent's apartment: Held by the corporation with no shares allocated. It is not part of the sellable inventory and never has been.

Flip tax / transfer fee: Not documented in the records reviewed for this page. Ask the board directly; a co-op of this vintage may well have adopted one by amendment after conversion.

Pets, pied-à-terre, washer-dryer, financing limits, move-in fees: Not publicly documented. Confirm against the current house rules and purchase application.

Landmarks: Exterior alterations require an LPC permit. Factor it into any window-replacement or façade project.

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. Most recent trades (2026 to date) cleared a median $1,205/sf (floor-adjusted) across 1 sale. 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 -2.5% over ask.

Sales sourced from NYC Department of Finance recorded transfers (BBL 3-01164-0042). 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 on co-ops is not officially recorded, figures shown are approximate.

You are buying inside a historic district, and that cuts both ways. The block is protected and the streetscape is stable. Your window replacement, your ironwork and your façade repair go through the Landmarks Preservation Commission. Price the timeline, not just the cost.

Confirm the line before you confirm the price. Street-facing and courtyard apartments differ materially in light and quiet in a building with a recessed core. Visit at two different times of day.

Ask for the flip tax and sublet policy in writing early. Neither is documented in the conversion file. Both are material to your exit, and both belong in the application-stage questions.

Read the corporation's tax basis. The property came in through a Section 351 exchange in 1986, which left the corporation with the sponsor's basis. It is a permanent structural fact about the entity you are buying into.

Verify the room count convention. The plan used the REBNY method, which counts half-rooms. Compare like with like when you shop the neighborhood.

Name the distinction. This is the only Art Deco building in the Prospect Heights Historic District and one of only four six-story elevator apartment houses inside the line. Both facts come straight out of the Commission's designation report, and they belong in the first paragraph of the listing.

Photograph the ornament. The chevron panels, the rosette lintels and the wave motif above the corner windows are the building's argument. Most listings on this block show a lobby and a kitchen.

Position against the neighborhood's prewar elevator co-ops. Contemporary condominium pricing in Prospect Heights is not the measure for this ask. A lender's appraiser uses co-op sales when they are available; condominium sales are a fallback that has to be explained and adjusted for the market's preference.

Assemble the board package before the first offer. Current financials, assessment history, house rules, sublet policy, flip tax and the Landmarks status of any work done to the unit or the building. Sellers who have it ready keep it from becoming a negotiating lever.

If you're considering 230 Park Place, also evaluate:

• 225 Park Place — the Colonial Revival elevator co-op facing it from the north side of Park Place, converted by the same sponsor four months later; the closest direct peer
• 135 Eastern Parkway (Turner Towers) — the neighborhood's largest prewar cooperative, for buyers who want scale and bigger rooms
• 175 Eastern Parkway — 1920s Eastern Parkway co-op near the Brooklyn Museum; a comparable conversion-era file
• 125 Eastern Parkway (The Theodore Roosevelt) — smaller prewar co-op on the Parkway
• 41 Eastern Parkway — prewar co-op at the Grand Army Plaza end of the Parkway
• 34 Plaza Street East — Plaza Street prewar cooperative facing Grand Army Plaza
• 50 Plaza Street East — the boutique Plaza Street alternative
• 209 Lincoln Place — Park Slope prewar co-op inside that neighborhood's historic district; the landmarked-context comparison across Flatbush Avenue
• 44 Butler Place (Butler Plaza) — the small Prospect Heights condominium alternative, for buyers weighing tenure