Two Bridges Townhouses
291–319 Cherry Street, on Cherry Street near Clinton Street; Two Bridges, on the Lower East Side
Two Bridges
BBL 1002467501 · BIN 1083381
- Type
- Condominium
- Landmark
- No
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at Two Bridges Townhouses 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.
Two Bridges Townhouses puts 57 condominium apartments in three-story buildings on Cherry Street. The low-rise groups, open courtyards and rear yard occupy a broad site in a neighborhood of much taller residential construction. Buyers here acquire an apartment within a common condominium, with stairs providing access to the upper floors.
The development grew out of the Two Bridges urban renewal program. Two Bridges Neighborhood Council and Settlement Housing Fund developed it using federal Section 235 mortgage subsidies and city assistance. Construction was completed and residents moved in during 1986. Its original purpose was moderate-income homeownership, and the apartments now trade individually on the open market.
The original resale-profit repayment requirement expired in 2002. That history is significant because the development's affordable-housing origins can obscure its present ownership status. The published history of the development confirms that the restrictions were removed; current resales are conventional condominium transactions.
Architecture and unit composition
The site is divided into three groups of walk-up buildings, with courtyards between them and a yard behind. City planning descriptions identify approximately 42,800 square feet of land and 56,550 square feet of building area. The open portions of the property are a substantial part of its physical arrangement.
The residences include two- and three-bedroom layouts. Individual apartments have appeared with one, one-and-a-half or two bathrooms, and their entrances and stair access depend on their location within the groups. The townhouse name describes the development's form; it does not mean every apartment is an independently owned house or occupies three floors.
The low height makes floor position especially tangible. A lower residence has fewer stairs, while upper apartments can gain light and views across the open spaces or toward the bridges. The surrounding skyline has changed substantially since the complex was built, so a view across a courtyard and a distant view beyond the property serve different purposes.
At a built FAR of 1.32, the property occupies much less floor area than the current C6-4 district's stated residential allowance. The condominium arrangement, existing buildings and applicable planning controls remain relevant to any development proposal; the zoning figure alone isn't a buildable addition for an individual owner.
Building operations
Ownership is distributed across the 57 residential tax lots, with no single owner holding more than one residence in the DOF ownership tally. The condominium's common obligations extend across multiple low-rise structures and the open areas between them. Roofs, shared exterior surfaces and courtyard upkeep are therefore central to the physical property.
Class 1A taxation is an unusual feature for a Manhattan condominium of this overall size. Each residential lot is in the Class 1 framework, with statutory limits on assessment growth. Those limits apply to assessed value, not to the owner's total annual bill, and improvements or other tax changes can still affect the amount payable. There is no building-wide abatement listed in the current DOF record.
The walk-up configuration carries no elevator service to the upper residences. Stair access is part of the permanent layout, alongside the shared outdoor circulation between the building groups.
Recent sales
Recent closings at this building, curated by The Roebling Team research desk. 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 |
|---|---|---|---|---|---|
| Nov 24, 2025 | B1 | 2 BR · 1 BA · 991 sf | $925,000 | $933/sf | -7.0% |
| Jan 18, 2018 | B2 | 2 BR · 875 sf | $945,000 | $1,080/sf | -4.1% |
| Jul 31, 2007 | C2 | 1,300 sf | $929,000 | $715/sf | off-mkt |
| May 2, 2007 | E2 | 1,157 sf | $780,000 | $674/sf | off-mkt |
Market read. Most recent trades (2025) cleared a median $933/sf across 1 sale.
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-00246-7501) 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.
Buying here? Condo closing costs with a mortgage typically run 3 to 6% of the price. See NYC co-op and condo closing costs, line by line.
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What to know if you’re buying
A townhouse setting with condominium responsibilities. The shared courtyards and grouped roofs make the boundary between apartment work and association work particularly relevant here. An upper-floor purchase should establish how roof and skylight repairs are allocated; a lower-floor purchase should establish responsibility for adjacent common outdoor areas. Those allocations follow the condominium documents, not the apparent boundary of an individual building entrance.
Comparable buildings
- Madison Tower — A nearby condominium from a later development cycle, offering an elevator-building comparison to the walk-up groups.
- Honto 88 — A late-twentieth-century condominium with substantially greater height and an established resale market.
- 48 Hester Street — A smaller condominium of a similar broad generation, with apartments stacked in a mid-rise building.
- 50 Henry Street — A local condominium with fewer residences in a taller structure, useful for comparing building scale and tenure.
- West Lake Terraces — A lower-rise condominium built more recently, relevant to buyers seeking ownership below the neighborhood's tower scale.
More Lower East Side buildings
- 260 Bowery — 2017 condominium by Morris Adjmi Architects
- 263 Bowery — condominium
- 287 East Houston Street (287/LES) — 2017 condominium
- 300 East 4th Street — 1940 co-op
- 328 Grand Street — condominium
- 453 FDR Drive — 1955 co-op
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.
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