240 West 75th Street

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.

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

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. $/sf is measured on the latest sales with reliable square footage (2012): a median $921/sf (floor-adjusted) across 1 sale. The building has traded as recently as 2025. Median listing discount 2.6% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.

Sales sourced from NYC Department of Finance recorded transfers (BBL 1-01166-0154). 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.

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 published September 2026 management-attributed schedule gives a seller-paid $35-per-share transfer fee; confirm that it remains operative. Obtain the financing ceiling, sublet rules, pied-à-terre and entity-purchase terms, and pet rules in writing.

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. Compare a combined corner apartment with relevant two- and three-bedroom West End Avenue sales, adjusting for documented area, layout, condition, staffing and carrying costs rather than assuming a staffing discount.

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