27 East 22nd Street (L'Elysee)

The building is a ten-story turn-of-the-century masonry loft on the south side of East 22nd Street. The conversion preserved the loft envelope — high beamed ceilings, oversized windows on the street and rear exposures, and the deep open floor plates that make full-floor loft living possible. The residential program is eight full-floor simplex residences stacked through the tower with two duplex penthouses at the top, above a ground-floor commercial unit — ten residential units in all, per listing and city records.

Full-floor layouts give each residence windows on multiple exposures and the privacy of a private-key elevator landing serving a single apartment. Converted residences carry central air conditioning and in-unit washer/dryers. Apartment scale runs large for the price tier — full-floor loft plates rather than the compact layouts of the surrounding towers — which is the building's defining product advantage and the reason it draws design-conscious buyers who want volume and light over services.

L'Elysee operates as a small self-managed-scale condominium: elevator-served, with basement private storage, and without the doorman, concierge, garage, or amenity program of a full-service building. A ten-unit building runs lean by design — common charges reflect the modest shared-services load, but a building this small also concentrates the cost of any major capital project (roof, facade, elevator, mechanical systems) across only ten owners, which is the structural trade-off buyers should understand. Building financial statements, the offering plan, and by-laws on file in The Roebling Research Library are available to clients during diligence; current reserve levels and any planned capital work should be reviewed against those documents and confirmed with the managing agent at offer stage.

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.

Market read. Most recent trades (2026) cleared a median $1,177/sf across 1 sale. Median listing discount 5.1% 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 1-00851-7502) 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.

You are buying loft scale and privacy, not amenities. The product here is the full-floor plate, the ceiling height, and the one-apartment-per-floor privacy — not a doorman, garage, or amenity suite. Buyers cross-shopping the full-service towers on the block should weigh that trade directly: this building competes on volume, light, and authenticity.

Small-building economics cut both ways. Ten owners share every fixed cost. Common charges can run efficiently low in steady-state years, but a single major capital project is spread across a very small ownership base. Review the building's reserves, recent financials, and any planned facade, roof, elevator, or mechanical work before you commit.

Condo flexibility is a genuine advantage. As a condominium, the building offers the transactional latitude that the surrounding market values — pied-à-terre use, subletting, and trust or entity purchase under the condominium framework — without a co-op board approval process. Confirm the specific current terms with the managing agent and your attorney.

Verify the policy stack at offer stage. Pet rules, subletting terms, washer/dryer specifics, and any transfer fee should all be confirmed against the by-laws and the managing agent — in a building this small, house rules are administered closely.

Mansion tax thresholds apply. Full-floor and penthouse pricing in the Flatiron core routinely crosses the $1 million mansion-tax floor and, for the larger residences, higher cliffs. Run the intended price through the Mansion Tax Calculator.

Market the scarcity of full-floor loft living on Madison Square Park. The selling story is structural: a full-floor loft footprint, high beamed ceilings, multi-exposure light, and private-landing privacy, one block from the park and surrounded by the corridor's trophy towers. That is a thin and specific inventory, and the marketing should name it.

Price to same-building and true-loft comparables. A ten-unit building turns over rarely, and tower-average $/sf from the high-rises on the block is not a useful anchor. The right comparables are full-floor loft conversions in the immediate Flatiron core.

Set expectations on services. Buyers arriving from full-service towers should understand the boutique operating model up front; positioning the building's intimacy as the feature it is, rather than leaving the absence of a doorman to surface as an objection, is the stronger approach.

If you're considering 27 East 22nd Street, also evaluate:

• 23 East 22nd Street (One Madison) — the slender CetraRuddy condominium tower next door; the full-service, high-altitude alternative on the same block
• 45 East 22nd Street (Madison Square Park Tower) — Kohn Pedersen Fox's new-construction luxury tower across the street; the corridor's amenity-rich high-rise benchmark
• 21 East 22nd Street — immediate-neighbor boutique condominium on the same block face
• 121 East 22nd Street — OMA-designed Gramercy/Flatiron-edge condominium; new construction with full amenities
• 141 Fifth Avenue (Merchants Bank Building) — landmarked Flatiron loft-to-condo conversion; comparable boutique pre-war proposition
• 212 Fifth Avenue — Madison Square Park conversion condominium with pre-war bones and a fuller service program
• 225 Fifth Avenue (The Grand Madison) — large Madison Square Park condominium conversion; the full-service contrast to L'Elysee's boutique scale

The Roebling Team at Compass works the Flatiron and Madison Square Park corridor as part of our broader Manhattan practice. We publish this building profile because boutique-loft buyers and sellers deserve building-specific intelligence — conversion history, the economics of small-building ownership, policy framework, and apartment-line comparables — not generic neighborhood commentary.

If you're considering a transaction at 27 East 22nd Street, a 30-minute consultation is the right starting point. We'll bring the full context this page provides plus the transactional specifics your situation requires — due-diligence priorities for a small building, comparable analysis at the apartment level, and the pacing strategy that fits your timeline.