- Year built
- 1920
- Type
- Condominium
- Amenities
- Elevator with key-fob access, 24-hour virtual doorman, package room, central air, in-unit washer/dryer (listing records)
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at London Clay Townhouse 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.
London Clay Townhouse is a three-home condominium carved from a five-story 1920 townhouse on East 22nd Street, on the same block as One Madison and Madison Square Park Tower. Buttonwood Development and Wheelhouse Property bought the building in late 2024 for about $10.4 million and refinanced it with a $10.2 million loan, per published reporting. The three homes are now listed at a combined $18,350,000.
Each residence has its own outdoor space: a 577-square-foot garden, a 207-square-foot terrace, and 1,589 square feet across the penthouse's terraces and private roof. With three units, there is no amenity program to pay for. Buyers get a small condominium and elevator access without the staffing costs of a doorman building, and remote building services stand in for a lobby attendant.
The pricing sits between the two kinds of product a buyer here would compare: full-service new towers on the same block, and whole townhouses. The penthouse at $10 million is priced as a townhouse alternative. The two parlor floors at $3.85 million and $4.5 million compete with two-bedroom resale condominiums in the Flatiron.
The residences
- Garden Parlor: a full floor with two bedrooms and two and a half baths, ceilings of about 14 feet, and a 577-square-foot garden patio. Miele kitchen, Lefroy Brooks bath fittings.
- Upper Parlor: a full floor with two bedrooms and two and a half baths, 11-foot ceilings, private elevator entry, and a 207-square-foot rear terrace. Primary bath with soaking tub and separate shower.
- Penthouse Duplex: three bedrooms and three and a half baths plus a den, a 26-foot-wide great room with a fireplace, a central glass atrium of about 20 feet, a Sub-Zero and Wolf kitchen, and 1,589 square feet of outdoor space across levels, topped by a private roof terrace.
Listing records do not publish interior square footage for any unit, so a true price per square foot cannot be calculated yet. As a rough allocation, PLUTO records about 7,777 square feet of gross residential area, which puts the combined asks near $2,360 per gross square foot. Saleable area will be smaller, and the real figure higher. Schedule A of the offering plan gives each unit's area.
Offering and pricing
| Residence | Bedrooms | Outdoor space | Ask | Monthly common charges | Monthly real estate taxes |
|---|---|---|---|---|---|
| Upper Parlor | 2 | 207 sf terrace | $3,850,000 | $2,561 | $3,332 |
| Garden Parlor | 2 | 577 sf garden | $4,500,000 | $3,073 | $3,998 |
| Penthouse Duplex | 3 + den | 1,589 sf incl. roof | $10,000,000 | $6,454 | $8,396 |
Asks and carrying costs per listing records, October 2026.
The sponsor's initial filing with the Attorney General projected a sellout above $20 million, per published reporting, and the sponsor said updated numbers would follow. The current asks total $18,350,000, about 8 percent below that projection. The plan number and acceptance date were not confirmed in the records reviewed for this page. Listing records give a sales start of September 17, 2026, after earlier guidance of late July or early August.
Listed carrying costs (common charges plus taxes) run about $70,700 a year for the Upper Parlor, $84,900 for the Garden Parlor and $178,200 for the Penthouse, between 1.8 and 1.9 percent of the asking price. Confirm the figures against the plan's first-year budget and tax projections.
Local Law 97
This building is below the 25,000 sq ft threshold at which LL97 limits apply to a building on its own. It is still covered if it shares a tax lot or condominium board with buildings totaling over 50,000 sq ft; confirm on DOB’s covered-buildings list.
See full Local Law 97 analysis →Recent sales
Recent closings at this building, sourced from NYC Department of Finance records. Apartment-level detail (line, condition, asking-price context) verified upon consultation request.
| Date | Unit | Price |
|---|---|---|
| Dec 5, 2024 | — | $10,450,000 |
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-00850-0056; each condominium apartment is its own tax lot). 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.
What would your apartment rent for?
Enter your apartment and I'll send you what it would rent for, from comparable closed leases at London Clay Townhouse and nearby.
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.
Keep up with London Clay Townhouse and its market
The Roebling Report, monthly: Manhattan sales data and analysis, including buildings like London Clay Townhouse. Unsubscribe anytime.
We’ll use your email for The Roebling Report and note your interest in this building. See our privacy policy.
What to know if you’re buying
The $10 million line. The penthouse is asked at exactly $10,000,000, where New York's mansion tax rises from 2.25 percent to 3.25 percent. At $10,000,000 the mansion tax is $325,000. At $9,999,999 it is about $225,000. A negotiated price just under the line saves the buyer about $100,000 in tax alone.
Closing costs on the parlor floors. On a $4.5 million purchase the buyer customarily pays about $93,375 in New York State and City transfer taxes (0.65 percent and 1.425 percent) before any gross-up, plus $67,500 in mansion tax at the 1.5 percent tier. Use the calculators below to run your own price.
Confirm the certificate of occupancy. PLUTO lists three residential units, but recent Department of Buildings filings carry two existing dwelling units, and the lot is zoned M1-5M. Have your attorney confirm that the certificate of occupancy legalizes three residential units before you sign.
The retail space. PLUTO records about 1,123 square feet of commercial area, and DOB issued a sign permit for a retail tenant in June 2026. Ask whether the retail space is a separate condominium unit, how common charges are split, and what controls the declaration places on its use.
Three-unit governance. With three owners, every board decision and every capital repair is shared among very few people. Review the reserve fund, the insurance program and the declaration's rules for decisions when owners disagree.
Plan status. Confirm with the sponsor's counsel that the offering plan has been accepted for filing before signing a contract or wiring a deposit.
Comparable buildings
- One Madison (23 East 22nd Street) — condominium tower on the same block of East 22nd Street, completed 2013
- Madison Square Park Tower (45 East 22nd Street) — condominium tower across East 22nd Street
- The Flatiron Building (175 Fifth Avenue) — 1902 office building being converted to condominiums, a block west
- Armorie (114 East 25th Street) — 20-unit conversion of a 1921 building nearby
- 18 Gramercy Park South — 1927 building converted to condominiums in 2012–2013, with full-floor homes
- 212 Fifth Avenue — 1913 office building converted to condominiums on Madison Square Park
More Flatiron buildings
- 31 West 21st Street — 1907 condominium
- 32 West 20th Street — 1912 co-op
- Altair 18 at 32 West 18th Street — 1908 condominium by CetraRuddy Architects
- 33 East 22nd Street — 1938 co-op
- 35XV, 35 West 15th Street — 2012 condominium by FXCollaborative (Fox & Fowle / FXFOWLE)
- 36 East 22nd Street (The Story House) — 1901 condominium by Stephen B. Jacobs Group
The neighborhood
For the full corridor — architecture, transit, and pricing across Flatiron — read The Roebling Team Guide to Flatiron.
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 London Clay Townhouse?
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