309–317 West 93rd Street (Albert Court and Eleanor Court)

Each building is seven stories on a lot of about 6,300 square feet, with about 32,000 square feet of floor area per PLUTO. The Landmarks Preservation Commission classifies both as flats buildings, the period term for a middle-class apartment house, in Renaissance Revival style with Roman brick, limestone and terra cotta. It records neither as altered. Façade repairs over the years have included terra-cotta replacement in 2000–01, rebuilt entrance stoops in 2004, and rear-wall repairs in 2015.

Apartments are lettered A through D on each floor, so there are about four per floor. Combinations have merged some lines, and ACRIS records a unit designated 1/2D at 309 that appears to span two floors. Co-op apartments are priced per room. As small prewar buildings, the pair prices against other side-street co-ops in the West 90s, not the larger full-service co-ops on West End Avenue and Riverside Drive.

One board and a managing agent run both buildings, with union building staff. The records on file show an active capital program and a board willing to assess shareholders for it. In 2007 the corporation levied a capital assessment payable over 24 months to help fund an elevator project, with a discount for shareholders who paid in full. The 2009 budget raised maintenance by about 7%.

Underlying mortgage. In 2005 the corporation refinanced into a $2.25 million first mortgage. That loan matured in 2015, and the corporation refinanced before then, in October 2013. ACRIS records a further consolidation and extension in July 2021 with a new lender, totaling about $3.2 million, including a new loan of about $500,000. The 2021 loan's rate, term and maturity are not in the records we reviewed. Ask for them, and for the latest audited statements, at offer stage. The maturity date is the first thing to check in any co-op's finances.

Reserves. The governing documents do not require reserves for future major repairs, and the corporation had not commissioned a reserve study as of the statements on file. Under the plan, the difference between the flip tax collected and the portion owed to the sponsor went into the corporation's contingency fund.

Tax position. DOF's historical records show a series of small J-51 abatements on both lots: 1971 (317 only), 1980, 1988 and 2002. The last benefit year recorded is 2013. No J-51 or other building-wide exemption appears on DOF's current rolls. The cooperative receives the co-op/condo abatement for eligible shareholders.

• Flip tax. 12% of net profit on resale, per the financial statements on file. Part of the flip tax was payable to the sponsor under the plan. Confirm with the managing agent whether that arrangement still applies.
• Subletting. Permitted with board approval and a fee (budget on file). Confirm the term limits.
• Everything else in the purchase process, including the board package, interview, minimum down payment and any trust or LLC restrictions, is not documented in the records reviewed. It must come from the managing agent.

Recent sales

Sales sourced from NYC Department of Finance recorded transfers (BBL 1-01252-0044) 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.

You are buying into two buildings. Your maintenance pays for the roofs, façades and mechanical systems of both. Ask whether the capital plan covers both buildings and whether either one has open Local Law 11 façade work.

Get the mortgage terms. The corporation took on more debt in 2021. Ask for the maturity date, the rate, and whether the loan is interest-only. A maturity inside your expected hold period is a refinancing risk that can raise maintenance.

Model the flip tax. At 12% of net profit, it is a real cost on resale, and it grows with your gain. Build it into your exit math.

Plan for the board. Expect a full co-op package and an interview. Get the managing agent's requirements, including minimum down payment, debt-to-income ratio and post-closing liquidity, before you bid.

Price the flip tax in. Twelve percent of net profit comes out of your proceeds. Get the managing agent's figure early so your net is accurate.

Assemble the building package in advance. Current financials, the mortgage terms and the sublet policy are the questions buyers' attorneys ask first. Having them ready shortens the time from contract to board.

If you're considering 309–317 West 93rd Street, also evaluate:

• The Vancouver (314 West 94th Street): a 1906–07 George F. Pelham building on the same tax block, the condominium alternative
• 310 West 99th Street: a 1902 prewar co-op, converted in 1983
• 306 West 100th Street: a 1910 side-street co-op converted in 1988
• 320 West 90th Street: a co-op converted in 1984, the same era as this one
• The Chatillion (214 Riverside Drive): a 1901–02 co-op on the Riverside Drive end of the same block, much larger
• 210 Riverside Drive: a prewar co-op at the Riverside end of the block
• 675 West End Avenue: a larger 1925 co-op at the West End Avenue end of the block
• Hudson Court (317 West 95th Street): a 1902 flats building two blocks north, converted to condominium