240 West 75th Street
238–242 West 75th Street, New York, NY 10023
BBL 1011660154 · BIN 1030738
- Year built
- 1920
- Type
- Cooperative
- Units
- 6
- Landmark
- No
- Amenities
- Elevator; laundry room operated under an outside service contract; tenant storage (the corporation collects storage fees), per the audited statements
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A Private Pricing Opinion — what your apartment at 240 West 75th Street 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.
240 West 75th Street is a 1920 George F. Pelham apartment house on the Broadway block of West 75th Street — ten stories, four apartments to a floor, brick and stone. Pelham was among the most prolific apartment architects of prewar Manhattan, and his Upper West Side buildings from the same decade include 125 West 76th Street, 164 West 79th Street and 33 Riverside Drive. The Landmarks Preservation Commission included this building in the 2013 extension of the West End–Collegiate Historic District.
The building has been a cooperative since November 15, 1984. It was converted with few tenants buying, and that has shaped its finances since. 240 Venture Associates first filed the plan in August 1983 as an eviction plan, then amended it to a non-eviction plan. It was declared effective in September 1984 with subscriptions for 21% of the apartments — eight tenants in occupancy and no outside buyers. At closing, the sponsor still held 4,341 of the 6,697 shares, about 65% of the building, and the corporation took on a $750,000 purchase-money wraparound mortgage owed to the sponsor.
What happened next is the building's main story. In 1996 a successor holder of unsold shares surrendered the proprietary leases on eight apartments to the corporation. They became treasury apartments, rented to tenants at rents well below the maintenance on those shares. The corporation then sold them one at a time as they became vacant. By the end of 2019 six had been sold, including one that September for $1.05 million. ACRIS shows the corporation selling two more apartments in 2020 and 2021, which accounts for all eight. So the corporation no longer depends on rental apartments, and it received the sale proceeds.
Architecture and unit composition
The building sits on a 60-by-102-foot lot. It has about 44,000 square feet of floor area and follows a standard layout for an early-1920s Pelham building: four lines per floor, A through D, and two penthouse apartments on top. Share allocations in the 1985 unsold-share schedule range from about 135 to about 225 shares per apartment.
Shareholders have combined apartments steadily: 8A with 8B (2004), PHA with PHB (2007), 5C with 5D (2008), 3A with 4A into a duplex (2016), and 8C with 8D (2018), all under DOB filings. That is why the audited statements count 32 apartments against the 36 built. A 2016 DOB filing ran gas piping to the laundry dryers and to a new exterior gas grill, which suggests outdoor space used by residents; ask the managing agent what that space is and who can use it.
Building operations
Underlying mortgage. Per the 2019 audited statements, the corporation refinanced in October 2016 with a $2.049 million first mortgage. The loan was interest-only at a variable rate, fixed through a swap at an effective 3.03%, and due November 1, 2026. It came with a $350,000 line of credit that had nothing drawn at year-end 2019. Debt was about $304 per share. ACRIS shows the maturity handled before it came due: in June 2026 the corporation recorded a new $1.051 million mortgage consolidated into a $3.1 million agreement. The new rate, term and amortization are not public. They are the first thing to ask about, because a 3.03% swapped rate is being replaced at 2026 rates on about 50% more debt.
Reserves and operations. At the end of 2019 the corporation held about $1.1 million in cash and short-term investments, most of it from the treasury sale that year. Real estate taxes were 52% of expenses. The board has regularly levied a special assessment roughly equal to the cooperative tax abatement credited to eligible shareholders, about $67,000 in 2019. Maintenance rose 2% in January 2020. The statements note there is no reserve study. The building was heated with oil as of 2019 — a 2003 filing converted the burners to No. 2 oil.
Capital work. Façade and roof work comes up repeatedly in DOB records: 2001, 2005 (façade and spandrel waterproofing), 2008 (parapet), 2011, 2013 (roof), 2016 (façade restoration with repointing), and 2020 (roof and exterior). A new exterior façade and roof program was permitted in June 2025, including replacement of the roof membrane and flashing. Suspended-scaffold and sidewalk-shed filings followed in 2025 and into 2026. Ask whether the June 2026 refinancing was sized to pay for this work, and what share of it is complete.
Taxes. The Department of Finance's historical J-51 file shows one abatement, beginning in 1988, on about $49,500 of work at the 90% allowance. It was fully used by the 1999 tax year. The current exemption roll shows only individual shareholder exemptions.
Recent sales
About 32 apartments produce a few resales a year — three in the most recent 24 months. Price per room is the right comparison. The building trades as a mid-block prewar cooperative with an elevator: below the full-service West End Avenue and Riverside Drive buildings on the neighboring blocks. Floor, line and whether an apartment has been combined explain most of the spread between sales. Market statements here are indexed to 2025, the last complete year.
Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Recent transfers at this building, sourced from NYC Department of Finance records. Apartment-level detail (line, condition, asking-price context) verified upon consultation request.
| Date | Unit | Price |
|---|---|---|
| Jul 8, 2025 | 4C | $815,000 |
| Mar 10, 2025 | 7A | $1,080,000 |
| Oct 4, 2024 | 6B | $1,050,000 |
| Aug 20, 2024 | 9C | $769,000 |
| Sep 12, 2022 | 1B | $640,000 |
| Aug 10, 2022 | 7B | $1,200,000 |
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-01166-0154) 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.
Buying here? Co-op closing costs typically run 2 to 3% of the price. See NYC co-op and condo closing costs, line by line.
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What to know if you’re buying
Get the 2026 loan terms before you price the maintenance. A new rate on $3.1 million of debt, together with an active façade and roof program, will set maintenance for the next several years. Ask for the new note terms and the capital budget.
Confirm the treasury apartments are gone. The record indicates all eight have been sold. Confirm with the managing agent that the corporation holds no apartments and that no holder of unsold shares remains.
Get the policy stack in writing. The financing ceiling, flip tax, sublet rules, pied-à-terre and trust or LLC purchases, and pets could not be confirmed from the documents on file.
What to know if you’re selling
Present the capital work as done, if it is. A completed LL11 cycle and roof replacement, paid for from the refinancing, answers a buyer's first question about a 1920 building.
Price combined apartments against larger buildings. A combined corner apartment here competes with two- and three-bedroom apartments on West End Avenue, discounted for lighter staffing.
Comparable buildings
If you're considering 240 West 75th Street, also evaluate:
- 310 West End Avenue — Emery Roth's 1925 cooperative at the 75th Street corner, on the same tax block
- 300 West End Avenue — Schwartz & Gross's 1917 cooperative at West 74th Street, on the same tax block
- 245 West 74th Street — the Alfie Arms, a 1924 cooperative on the same tax block
- 304 West 75th Street — Robert T. Lyons's 1930 cooperative across West End Avenue
- 325 West End Avenue — Neville & Bagge's 1916 cooperative at West 75th Street
- 125 West 76th Street — George F. Pelham's 1922 cooperative, converted in 1986
- 33 Riverside Drive — Pelham's 1927 park-front cooperative at West 75th Street
- 215 West 78th Street — Schwartz & Gross's 1926 cooperative off Broadway
More Upper West Side buildings
- 235 West 71st Street (The Lucania) — 1912 condominium by Gaetano Ajello
- The Astor (235 West 75th Street) — 1900 condominium by Clinton & Russell
- 238 West 108th Street (The Columbia House) — 2007 condominium
- 240 Riverside Boulevard (The Heritage) — 2004 condominium by Costas Kondylis & Partners
- 240 West 98th Street (The Sabrina) — 1923 condominium by Schwartz & Gross
- 241 West 108th Street — 1911 co-op by George and Edward Blum
The neighborhood
For the full corridor — architecture, transit, and pricing across Upper West Side — read The Roebling Team Guide to Upper West Side.
The full playbook — what goes in the package, how boards read your financials, the interview, and the timeline — plus sample cover, reference, and personal letters you can adapt.
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.
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