301 Henry Street

A brick Federal house of 1833, now four storeys, twenty-five feet wide on the Henry Street front and about seventy-eight feet deep along State Street. The stoop's removal put the entry at or near grade and turned the old basement into a living floor; the fourth storey went on later. At roughly 7,800 square feet of building on a 2,228-square-foot lot the house is built to about 3.50 times its lot area, well above the 2.43 that current R6 zoning would allow — a legal non-conforming envelope, and a useful signal of how much was added behind the original front. The Department of Finance carries a 1987 alteration, which is the most recent recorded reworking.

Ten apartments in 7,800 square feet average about 780 square feet, and that is the practical headline for buyers: this is the roomiest of the district's ten-unit converted houses on a per-apartment basis, with genuine one- and two-bedroom scale rather than the studio-and-junior stock that fills narrower conversions. Exposures are the other differentiator — west to Henry Street, south along the State Street flank, and east into the block's gardens — so a corner apartment here can carry two or three exposures where an interior row-house apartment carries one.

As in every house of this age there is no line structure to compare: ceiling heights, window openings and original joinery vary floor to floor, and the added top storey has its own geometry. Both street elevations are regulated fabric under the designation, which on a corner building means roughly twice the façade to maintain and restore.

99 State Associates, Inc. has run the building for more than fifty years on the smallest available model: no elevator on record, no staff on record, and no outside managing agent — the current HPD registration lists the corporation itself as registered agent at the building's own address. Ten shareholders governing directly holds the maintenance base down and puts the weight of diligence on the corporation's own documents: audited statements, reserve balance, assessment history and board minutes.

The financing record is more informative here than at most small cooperatives, because it is long and it comes from a single specialist lender. The National Consumer Cooperative Bank has been the corporation's underlying lender since 1992, refinancing in 2002, 2011 and again on December 22, 2021, when a $580,000 mortgage and a $150,000 facility were recorded. The pattern — a modest first mortgage refinanced roughly every decade, paired with a smaller line — is the textbook profile of a well-run small cooperative that funds capital cycles through borrowing rather than through emergency assessments. Ask what the 2021 proceeds paid for and what remains drawn on the line.

For an 1833 brick house with a later top storey and two street elevations, the capital list is façade and cornice work under FISP/LL11 with Landmarks review attached on both faces, the roof and the junction between original masonry and the addition, the party wall with No. 299, and the age of the risers and heating plant. The 1987 alteration is old enough now that its systems are themselves approaching replacement age.

Recent sales

Sales sourced from NYC Department of Finance recorded transfers (BBL 3-00263-0006) 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.

Ask when the cooperative was actually organized. Corporate title dates to September 1971, which is early. Your attorney should establish the date of the cooperative plan, confirm the share allocation, and check whether any sponsor or unsold shares remain outstanding.

Underwrite the NCB debt. A $580,000 mortgage plus a $150,000 facility recorded in December 2021 is modest across ten apartments, but it is behind your maintenance. Get balance, rate, maturity and use of proceeds.

Buy the corner if you can. Two and three exposures are the building's scarce asset; confirm which windows the specific apartment actually has.

Understand the enlargement. Seventy-eight feet of building on an eighty-nine-foot lot is far deeper than an 1833 Federal house was built; ask what the 1987 alteration covered.

Get every policy in writing. No offering plan for this building sits in our library and the corporation is self-managed. Pets, sublets, financing minimums and any flip tax come from the board directly.

Lead with the corner and the two addresses. 301 Henry Street, aka 99 State Street is how the Landmarks Preservation Commission itself lists the property. Two elevations, two- and three-exposure apartments, and a corporation named for the side street — that is a specific, documented story.

Use the 1833 date. A named owner-developer in the LPC's file and one of the two oldest construction dates on the block is a pedigree claim most Heights listings cannot make.

Sell the square footage. About 780 square feet per apartment on average is materially larger than the district's ten-unit norm. Measure the specific home and publish the plan.

Have the corporate file ready. Fifty-five years of corporate title, one specialist lender since 1992, and self-management mean buyers' attorneys will ask early — assemble the plan, share ledger and last three years of statements before you list.

If you're considering 301 Henry Street, also evaluate:

• 299 Henry Street — the cooperative immediately next door on the same block; the closest possible comparable, and the instructive contrast in how much original fabric survived
• 282 Henry Street — 1839 Greek Revival house converted to ten apartments in 1985, across and up the street; the same scale with a documented offering plan
• 277 Hicks Street — eighteen-apartment cooperative one block west; the next size up in the same register
• 60 State Street — condominium on the same cross street; the ownership-form alternative nearby
• 151 Joralemon Street — small prewar walk-up cooperative around the corner; the closest operating-model match
• 132 Joralemon Street — twelve-apartment cooperative on the same corridor
• 245 Henry Street — Cohn & Cohn's postwar elevator cooperative; the full-service contrast a few blocks north
• 161 Henry Street — Schneider & Herter's 1905 prewar elevator cooperative on the same street
• 200 Hicks Street (Casino Mansions) — William A. Boring's 1911 cooperative; the prewar elevator comparison