250 East 25th Street (Hendrix House)Recorded sales & closing prices

Hendrix House launched in June 2024 and reported roughly 75 percent of its inventory in contract by January 2025, approximately 45 residences and close to $60 million. That absorption pace, in a market where Manhattan new-development sell-through was generally measured, is the most useful single datapoint about the building: the pricing was set to move, and it moved.

For buyers, the practical consequence is that the remaining sponsor inventory at any given moment is likely to be the residual — specific exposures, specific floors, or the layouts that sold last. That is not a reason to avoid the building; it is a reason to compare a sponsor unit against the emerging resale set rather than against the launch price sheet.

For sellers, the early resale market at Hendrix House will be defined by two things. First, sponsor competition: while unsold sponsor units remain, a resale listing is competing against a seller with a marketing budget and concession flexibility. Second, line comparability: with only studios, one-bedrooms and two-bedrooms and 12 floors, the comparable set within the building is unusually clean, which cuts both ways — it makes pricing easy to defend and equally easy to challenge.

The broader Kips Bay and Gramercy context matters for both sides. The surrounding for-sale inventory is predominantly post-war cooperative, which trades at a substantial per-square-foot discount but carries board approval, primary-residence expectations, restricted subletting and, in several nearby buildings, no in-unit laundry. The per-square-foot gap between that inventory and new condominium product is not a mispricing; it is the price of condominium form, new systems, and amenity.

Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.