242 Broome Street
242 Broome Street, New York, NY 10002
Lower East Side
BBL 1004097502 · BIN 1089450
- Year built
- 2016
- Type
- Condominium
- Landmark
- No
Every recorded sale at this building, 2018–2026
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $1,584
- Listing discount
- 1.9%
- Recorded sales
- 63
- On record
- 2018–2026
242 Broome is the first market-rate residential condominium delivered at Essex Crossing — the master-planned redevelopment that transformed a long-vacant stretch of the Lower East Side into one of the most consequential new districts in downtown Manhattan. Developed by Taconic Partners and designed by SHoP Architects, the building turned a former parking lot at the corner of Broome and Ludlow into a 14-story, 55-residence condominium with a distinctive champagne-colored façade — a piece of architecture that announced Essex Crossing's residential arrival.
The building's significance is partly contextual. Essex Crossing knit together a district that had been fractured for decades, bringing housing, the relocated Essex Market, the International Center of Photography, a cinema, parks, and ground-floor culture and retail into a coherent whole. 242 Broome sits at the center of that — a condominium whose value is amplified by everything the master plan delivered around it.
For buyers, the case is specific: new construction with a SHoP-designed façade and a 421a tax abatement, in a neighborhood with deep character and a brand-new amenity base, at downtown pricing that sits below SoHo and Tribeca. As a condominium, it offers the ownership flexibility — open financing, lighter closing mechanics, freer subletting — that the surrounding co-op and tenement stock cannot.
Local Law 97
- 2024–2029 annual penalty
- $52,100/yr
- 2030–2034 annual penalty
- $181,027/yr
- Per unit / month range
- $79 – $274
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.
QEWI = Qualified Exterior Wall Inspector — the licensed engineer the city requires to sign the report (the independent expert, not the managing agent). Source: NYC DOB facade filings (FISP) · The Roebling Research Library.
See the full facade history →Management & transfer contacts
Recent sales
Recent closings 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 |
|---|---|---|---|---|---|
| Jul 9, 2026 | 7D | 1 BR · 1.5 BA · 1,003 sf | $1,580,000 | $1,575/sf | -6.0% |
| Mar 19, 2026 | 7C | 2 BR · 2.5 BA · 1,376 sf | $2,170,000 | $1,577/sf | -7.5% |
| Aug 1, 2025 | 10D | 2 BR · 2 BA · 1,287 sf | $2,535,000 | $1,970/sf | -2.3% |
| Jul 18, 2025 | 6C | 1 BR · 1.5 BA · 1,005 sf | $2,250,000 | $2,239/sf | +0.0% |
| Feb 21, 2025 | 5A | 1 BR · 2 BA · 1,179 sf | $1,547,500 | $1,313/sf | -8.7% |
| Mar 23, 2023 | 9C | 2 BR · 2.5 BA · 1,522 sf | $2,852,500 | $1,874/sf | -10.7% |
| Jun 22, 2022 | 8B | 1 BR · 1 BA · 773 sf | $1,480,000 | $1,915/sf | -7.4% |
| Feb 11, 2021 | 14ESponsor Sale | 2 BR · 2 BA · 1,226 sf | $2,375,000 | $1,937/sf | -11.9% |
Market read. Most recent trades (2026) cleared a median $1,584/sf across 2 sales. Median listing discount 1.9% 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 1-00409-7502) 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 from recorded condo declarations and offering plans.
What to know if you’re buying
Buy the location as much as the apartment. The reason to be here is everything Essex Crossing delivered — the market, the culture, the parks, the transit hub — wrapped around a well-built condominium. That neighborhood base is a durable value driver.
Understand the abatement. The 421a tax abatement holds down taxes during its term; buyers should know how much time remains and how the taxes step up afterward, and price accordingly. The condominium structure — open financing, lighter closing mechanics, freer subletting — is a further advantage over the surrounding co-ops.
Know the building's structure. Essex Crossing is a mixed-income development; the market-rate condominiums trade conventionally, and understanding the broader structure is simply part of an informed purchase. We walk buyers through the plan, the abatement, and the comparison set.
What to know if you’re selling
Lead with design, abatement, and neighborhood. A SHoP-designed condominium with a 421a abatement at the heart of Essex Crossing is a distinct, marketable product — those three points distinguish a resale here from the broader Lower East Side market.
The condominium structure widens your pool. Open financing, lighter closing mechanics, and subletting flexibility make a resale here accessible to pied-à-terre and investment buyers a co-op would exclude.
Quantify the tax benefit. The remaining 421a term is a concrete selling point; presenting it clearly helps buyers underwrite the carrying cost and supports the price.
Benchmark to LES new construction. Comparable analysis belongs against the neighborhood's other new condominiums, not against tenement-era co-ops.
Comparable buildings
If you're considering 242 Broome Street, also evaluate the Lower East Side's other new and converted condominiums:
- 202 Broome Street — Essex Crossing residential building nearby
- 196 Orchard Street — Lower East Side new-construction condominium
- 38 Delancey Street — LES condominium near the Essex hub
- 357 Grand Street — Lower East Side residential building
- 225 Lafayette Street — nearby SoHo/Nolita loft condominium
Considering a move at 242 Broome at Essex Crossing?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 242 Broome at Essex Crossing 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.