252 Seventh Avenue (The Chelsea Mercantile)
252 Seventh Avenue, New York, NY 10001
BBL 1007747501 · BIN 1014176
- Year built
- 1906
- Type
- Condominium
- Units
- 354
- Floors
- 21
- Landmark status
- Not an individual landmark; not in a historic district
- NYC Landmarks Preservation Commission and City Planning records, updated February 2026
- Leasing by owners
- Permitted
- Pied-à-terre
- Permitted
- Pets
- Pets permitted; species and limits not stated
- Flip tax
- None
- Doorman
- Full-time doorman
- Flip tax
- None
- Financing
- No financing cap imposed by the condominium
- Subletting
- Permitted but board-regulated
- Pied-à-terre
- Permitted
- Pets
- Permitted
- Trust / LLC
- Entity ownership permitted
- Right of first refusal
- Yes
- Managing agent
- Rose Terra Management
Compiled by The Roebling Research Desk from the building’s offering plan, amendments, and related building documents (primary source dated 2018). Board policies can change by amendment — confirm at the offer stage.
Every recorded sale at this building, 2003–2026
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf, 2026 to date
- $1,527
- floor-adjusted, 14 sales
- Listing discount
- 2.9%
- Recorded sales
- 443
- On record
- 2003–2026
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at The Chelsea Mercantile 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.
The Chelsea Mercantile is one of the largest residential conversions of a commercial property in Chelsea — a 2000 Rockrose conversion of four structures originally erected 1906-1914 for the National Cloak and Suit Company. Its sheer 354-unit condominium scale places it among the largest conversions on the corridor, while a Whole Foods retail anchor defines the building's ground-floor commercial identity. The address has long drawn a trophy cultural resident roster — Katie Holmes, who rented a penthouse during her 2012 Tom Cruise divorce, Penélope Cruz as a 10th-floor owner, Lance Bass, Marc Jacobs, and Nick Jonas among the rentals, plus Bobby Flay and Stephanie March, Kyle MacLachlan and Desiree Gruber, and designer Brian Atwood.
Architecture and building operations
The building has a rotunda lobby, and a landscaped alley runs between the different sections of the property. There are no balconies.
Operations: 24-hour doorman + concierge; maid service; basement storage; garden; children's playroom; valet cleaning; health club; garage; sundeck.
Apartments: exposed brick walls; 9 ft ceilings (penthouses 11–13 ft); beamed ceilings; walk-in closets. Some penthouses have fireplaces, skylights, terraces.
Policy framework
- Type: Condominium
- Pets: Permitted
- Pied-à-terre: Permitted
- Subletting: Permitted
- Financing: Standard condominium LTV
- LLC/trust/foreign buyers: All permitted
- Right of first refusal: Procedural only
Application and transaction fees
Fees below are from building management's published schedule, as of October 2026. They are shown as published, item by item; no total is added because the total depends on the transaction. Deposits are listed apart from nonrefundable charges.
- Terms
- None
Source: The Roebling Research Desk's building record, 2018
Purchase
6 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Processing FeeConditional | Paid by Buyer | When With the application | Amount $950 (Addl $250 If there is no broker) | Refundable Non-refundable |
| Move-In Fee | Paid by Buyer | When With the application | Amount $2,500 | Refundable Non-refundable |
| Non-refundable Credit Check FeePer applicantRequired | Paid by Buyer | When With the application | Amount $150 per applicant | Refundable Not stated |
| Move-Out Fee | Paid by Seller | When With the application | Amount $2,500 | Refundable Non-refundable |
| Legal Fees in connection with review of documents related to the purchase by a Trust, or any other entity purchase | Paid by Buyer | When At closing | Amount To be determined | Refundable Non-refundable |
| Administrative Fee | Paid by Seller | When At closing | Amount $500 | Refundable Non-refundable |
Rental or lease
18 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Non-refundable Credit Check FeePer applicantRequired | Paid by Landlord | When With the application | Amount $150 per applicant | Refundable Not stated |
| Rental Application Fee | Paid by Landlord | When With the application | Amount $750 | Refundable Non-refundable |
| Amenities FeeConditional | Paid by Tenant | When With the application | Amount $1500 if lease is one (1) year, $3000 if lease is two (2) years | Refundable Non-refundable |
| Non-refundable Application Processing FeeConditional | Paid by Tenant | When With the application | Amount $750 (Addl $250 if there is no broker) | Refundable Not stated |
| Non-refundable Move In Fee | Paid by Tenant | When With the application | Amount $1,500 | Refundable Not stated |
| Non-refundable Move Out Fee | Paid by Tenant | When With the application | Amount $1,500 | Refundable Not stated |
| Pet FeeRecurring | Paid by Tenant | When With the application | Amount $250 per month | Refundable Non-refundable |
| Non-refundable Credit Check FeePer applicantRequired | Paid by Landlord | When With the application | Amount $150 per applicant | Refundable Not stated |
| Non-refundable Move Out Fee | Paid by Landlord | When With the application | Amount $1,500 | Refundable Not stated |
| Rental Application Fee | Paid by Landlord | When With the application | Amount $750 | Refundable Non-refundable |
| Amenities FeeConditional | Paid by Tenant | When With the application | Amount 1500 if lease is one (1) year, $3000 if lease is two (2) years | Refundable Not stated |
| Non-refundable Application Processing FeeConditional | Paid by Tenant | When With the application | Amount $750 (Addl $250 if there is no broker) | Refundable Not stated |
| Non-refundable Move In Fee | Paid by Tenant | When With the application | Amount $1,500 | Refundable Not stated |
| Pet FeeRecurring | Paid by Tenant | When With the application | Amount $250 per month | Refundable Non-refundable |
Lease renewal
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Lease Renewal Fee | Paid by Landlord | When With the application | Amount $750 | Refundable Non-refundable |
| Amenities FeeConditional | Paid by Tenant | When With the application | Amount 1500 if lease is one (1) year, $3000 if lease is two (2) years | Refundable Not stated |
| Pet FeeConditional · RecurringConditions: Please request a waiver code if this fee does not apply | Paid by Tenant | When With the application | Amount $250 per month, which is equivalent to the number of months in lease terms (i.e. - 1 year lease, 12 months X $250 = $3,000) | Refundable Not stated |
| Processing Fee | Paid by Tenant | When With the application | Amount $750 | Refundable Non-refundable |
Management updates its schedule without a public filing. The date is when management last updated the page, not when a rule changed. Confirm the current schedule with management before you apply.
Considering an apartment here? Send Corey the listing to discuss the building's costs and purchase requirements.
Own an apartment here? Request an apartment-specific pricing review.
Sublet and pied-à-terre policy
A condominium owner leasing a unit and a co-op shareholder subletting are different rules, and a building-wide rule is different from a restriction on one apartment. This is the building's rule; confirm it for the specific apartment.
- Leasing by owners
- PermittedSource: The Roebling Research Desk's building record, 2018
- Pied-à-terre ownership
- PermittedSource: The Roebling Research Desk's building record, 2018
Considering an apartment here? Send Corey the listing to discuss the sublet and pied-à-terre rules for that apartment.
Pets and in-unit washer/dryer
- Pets
- Pets permitted; species and limits not statedSource: The Roebling Research Desk's building record, 2018
- In-unit washer/dryer
- Not verified
Considering an apartment here? Send Corey the listing to confirm the pet and washer/dryer rules for that apartment.
Monthly carrying charges in recent sales
- Common charges + taxes, per room
- $938 per room a monthMedian of 42 recorded sales since October 2023Source: recorded sales, refreshed October 2026
- Common charges + taxes, per square foot
- $2.30 per square foot a monthMedian of 40 recorded sales since October 2023Source: recorded sales, refreshed October 2026
- Common charges alone, per square foot
- $0.93 per square foot a monthMedian of 34 listings since October 2023 that give the annual taxSource: listing records, refreshed October 2026
- Real estate taxes alone, per square foot
- $1.38 per square foot a monthMedian of 34 listings since October 2023 that give the annual taxSource: listing records, refreshed October 2026
Common charges plus real estate taxes, combined into one monthly figure the way New York condominium listings show them. Add a mortgage payment for the monthly outlay. The split into common charges and taxes comes from the listings that also give the annual tax, a different sample, so the two lines need not add up exactly to the combined median; a tax abatement can hold taxes below the full amount until it expires. A summary of recorded sales and listings, not a current bill; charges change.
Building staffing and amenities
- Doorman
- Full-time doormanSource: The Roebling Team's building profile
- Concierge
- YesSource: recent listing records
- Valet
- YesSource: The Roebling Team's building profile
- Elevator
- YesSource: NYC Department of Buildings elevator records
- Amenities noted
- Fitness room, playroom, roof deck, garage, storageSource: The Roebling Team's building profile
Staffing and amenities as our building profile and recent listing records describe them. A feature not listed is not confirmed absent.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $301,353/yr
- Per unit / month range
- $0 – $71
- Modeled exposure split equally across 352 units (the residential count on the city's lot record). Not an assessed amount; condominium owners are typically charged by each unit's common-interest percentage.
Source: NYC LL84 benchmarking and PLUTO · The Roebling Research Library. City record last verified September 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →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.
How to read this, and where it comes from
QEWI = Qualified Exterior Wall Inspector — the licensed engineer the city requires to sign the report (the independent expert, not the managing agent).
Penalties shown are amounts DOB assessed against filings on record across 2005–10 to 2020–25. The FISP dataset does not record whether they were paid, contested or remain open, so treat the figure as history rather than a current balance and confirm the building’s standing with the managing agent.
Source: NYC DOB facade filings (FISP) · The Roebling Research Library. City record last verified September 2026.
Management & transfer contacts
- Notable fees
- Pets OK upon approval; Pet Fee $250/month; Amenities Fee $1500 (1yr)/$3000 (2yr); Move-in/out $1,500-$2,500
Recent sales
Recent closings 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.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Sep 25, 2026 | 3M | 1 BR · 1 BA · 979 sf | $1,330,000 | $1,359/sf | -11.3% |
| Sep 15, 2026 | 5R | 2 BR · 2 BA · 2,269 sf | $2,550,000 | $1,124/sf | -3.8% |
| Aug 26, 2026 | 17B | 2 BR · 2 BA · 1,521 sf | $2,740,000 | $1,801/sf | -2.0% |
| Aug 24, 2026 | 10P | 3 BR · 3 BA · 2,203 sf | $3,500,000 | $1,589/sf | -7.9% |
| Aug 21, 2026 | 8T | 2 BR · 2 BA · 1,140 sf | $1,695,000 | $1,487/sf | +0.0% |
| May 19, 2026 | 14G | 2 BR · 2 BA · 1,605 sf | $2,800,000 | $1,745/sf | +0.0% |
| Apr 15, 2026 | 12Q | 2 BR · 2 BA · 1,563 sf | $2,400,000 | $1,536/sf | -4.0% |
| Apr 15, 2026 | 14I | 3 BR · 3 BA · 2,202 sf | $3,500,000 | $1,589/sf | -21.5% |
Market read. Most recent trades (2026 to date) cleared a median $1,527/sf (floor-adjusted) across 14 sales. 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 2.9% 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 1-00774-7501). 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 from recorded condo declarations and offering plans.
Closed rents at The Chelsea Mercantile, last 36 months
| Size | Leases | Median / month |
|---|---|---|
| 1 bedroom | 6 | $6,500 |
| 2 bedroom | 19 | $11,000 |
| 3 bedroom | 4 | $17,000 |
31 closed leases, October 2023 to September 2026. Most recent lease July 2026. Sizes with fewer than 2 leases are not shown. Compiled by The Roebling Team at Compass from closed leases.
What would your apartment rent for?
The figures above are the building's closed leases. Enter your apartment and I'll send you what yours would rent for, from comparable leases at The Chelsea Mercantile and nearby.
At the recent median sale of $2.5M (36 sales since 2024), a buyer putting 25% down would pay about $103,144 to close, or 4.1% of the price.
- Mansion tax: $31,250
- Mortgage recording tax: $36,094
- Title insurance: $11,250
- Attorneys, lender, building fees, reserves and filings: $24,550
Assumes a resale (the seller pays transfer taxes), a $4,500 attorney fee and a mortgage on the rest.
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Notable residents
- Katie Holmes — rented penthouse during 2012 Tom Cruise divorce; with daughter Suri Cruise
- Penélope Cruz — owns 10th-floor unit
- Lance Bass — rental
- Marc Jacobs — rental
- Nick Jonas — rental
- Bobby Flay + Stephanie March
- Kyle MacLachlan + Desiree Gruber
- Brian Atwood — designer
What to know if you’re buying
The 354-unit condominium scale is structurally distinguishing. Among the largest condominium conversions in Chelsea.
The Whole Foods retail anchor activates the building's commercial identity.
The cultural resident roster — Holmes, Cruz, Bass, Jacobs, Jonas — supports premium positioning.
The 1906-1914 original four-structure provenance with 2000 conversion produces real institutional context.
Standard condominium policy framework — pied-à-terre, subletting, LLC, trust, foreign buyer all permitted.
The exposed brick walls, beamed ceilings, and walk-in closets are real institutional interior credentials.
Comparable buildings
- London Terrace Towers (410 W 23rd) — Farrar & Watmough 1930; nearby Chelsea prewar peer
- Walker Tower (212 W 18th) — Walker / JDS 2014; nearby Chelsea trophy peer
- The Caledonia (450 W 17th) — Handel 2008; nearby Chelsea peer
- 100 Eleventh Avenue — Nouvel 2010; nearby Chelsea starchitect peer
- 245 Tenth Avenue — Della Valle Bernheimer 2010; nearby Chelsea peer
Sources: The Roebling Research Library (offering plans, house rules, financial statements, board minutes, internal transaction records); NYC Department of Finance recorded transfers; publicly recorded NYC building data.
More Chelsea buildings
- 250 West 27th Street — 1918 co-op
- 251 West 14th Street (The Elisa) — 2024 condominium by H. Thomas O'Hara Architects
- 251 West 19th Street — 1910 condominium
- 252 West 17th Street — 1985 condominium
- 252 West 30th Street — 1927 condominium
- 253 West 16th Street (Chelsea Hall) — 1929 co-op
The neighborhood
For the full corridor — architecture, transit, and pricing across Chelsea — read The Roebling Team Guide to Chelsea.
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.
Considering a move at The Chelsea Mercantile?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.
646.939.7375 · c.cohen@compass.com