330 East 79th Street (Charleswood)

The building fills a 116-foot-wide lot, about 11,850 square feet, with ten stories of red brick. Listing records describe angled windows, a regular window pattern and a doorman entrance. Interiors include beamed ceilings, herringbone floors, windowed kitchens and walk-in closets, per listing records.

The 2020 amendment's apartment schedule shows the typical sizes. The largest line is five and a half rooms with two to two and a half baths. Smaller homes are four rooms with one bath and three rooms with one bath. Apartments are lettered A through G on each floor. Owners have combined several of them, according to recorded share transfers and DOB filings: 5D/E, 9B/C, 10A/G and 10B/C. These combined apartments are the building's largest homes and trade at the top of its range.

Finances, per audited statements on file (year ending December 31, 2020). Maintenance brought in about $2.0 million. Real estate taxes, before the shareholder abatement, were about 47 percent of expenses. Payroll was about $600,000, which fits a staffed doorman building. Unrestricted cash was about $805,000 at year-end, and a separate reserve account held about $517,000 for capital repairs. The corporation has never commissioned a reserve study. The statements also show a separate real-estate-tax assessment on top of maintenance and a one-time operating assessment in 2018. Ask for the most recent statements and the current assessment schedule.

Underlying mortgage — the date to know. In April 2020, the corporation refinanced into a $5.25 million interest-only mortgage with a New York bank. The loan has an effective fixed rate of 3.14 percent and matures April 1, 2030. The refinancing retired a $4 million loan and added about $1.25 million in cash. ACRIS records the consolidation. The debt comes to about $75,000 per apartment. The low rate ends in three and a half years. At 6 percent, annual interest on the same balance would rise from about $165,000 to about $315,000, an increase equal to roughly 7 to 8 percent of 2020 maintenance. That estimate assumes the balance stays the same and is refinanced at 6 percent. Ask the board what its refinancing plan is.

Rooftop wireless license. The corporation licenses roof space to a wireless carrier for about $60,000 to $70,000 a year, and the fee rises 3 percent a year. The current term runs from November 2012 for fifteen years, so it comes up in late 2027. Ask whether it will be renewed.

Façade. DOB's façade-inspection record shows a Cycle 9 filing rated unsafe in February 2024. A façade restoration under permits filed in 2023 followed, and an amended Cycle 9 filing rated the façade safe in November 2024. Ask how the work was paid for and whether any assessment is still being collected.

Management and the neighboring tower. In the 2019 audited statements, the managing agent is described as partly controlled by the sponsor. The 2020 statements do not repeat that description. There is a second record to ask about. ACRIS lists this lot on 1989 declarations and on later mortgages for the 44-story rental tower at 350 East 79th Street. That tower was built in 1989 by the entity that owned 330 before the conversion. Records like these usually mean a zoning-lot merger or a shared-facility easement. Ask the managing agent for the recorded declaration. It will show whether 330 still has any unused development rights and what obligations run between the two buildings.

Flip tax. 2 percent of the selling price, paid by the seller, per the audited statements.

Financing. Up to 80 percent, per the purchase application. If you finance, the board package must include a lender commitment letter showing the monthly payment and three original recognition agreements.

Board process. The purchase application asks for a full financial statement, employment and income verification, and professional and personal references. The application says applicants should not contact board members or building staff while it is under review.

Subletting. Allowed with approval. The corporation collects a sublet fee and a $1,000 deposit for each move-in and move-out. Get the term limits and fees from the managing agent.

Pets. Only with the board's written permission, which it can revoke. Dogs must be carried or leashed in common areas and may not ride the passenger elevator.

Not documented: pied-à-terre use, the post-closing liquidity requirement, the debt-to-income standard, and whether trusts or LLCs can hold shares. Get these in writing from the managing agent.

Recent sales

Recent transfers at this building, from The Roebling Research Library. 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.

Market read. $/sf is measured on the latest sales with reliable square footage (2024): a median $981/sf (floor-adjusted) across 1 sale. The building has traded as recently as 2026. Median listing discount 3.8% 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 1-01453-0037). 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; square footage on co-ops is not officially recorded, figures shown are approximate.

Buying from the sponsor is a different transaction. A sponsor sale follows the offering plan and its amendments, and the unsold-share rules can differ from a shareholder resale. Read the most recent amendment. Ask your attorney whether a board interview and the flip tax apply to your purchase.

Ask about 2030. The mortgage is interest-only at 3.14 percent and matures April 1, 2030. Ask the board how it plans to refinance.

Get the declaration. Ask for the recorded 1989 documents that link this lot to 350 East 79th Street. It is standard diligence, and the managing agent should be able to produce them.

Confirm the façade assessment. After the 2023–2024 restoration, ask whether any capital assessment is still being billed.

Budget the 2 percent. The flip tax is paid by the seller on the selling price.

Price against the sponsor apartments. Unrenovated sponsor apartments set the low end of the building's recent sales. A renovated five-and-a-half-room home should be priced and marketed as a different product from them.

The financing ceiling helps. At 80 percent, buyers who would be shut out of a 65- or 70-percent building can bid here. Say so in the listing.

If you're considering 330 East 79th Street, also evaluate:

• 308 East 79th Street — 1928 co-op next door, much larger, prewar
• 325 East 79th Street — 1929 co-op across the street, similar in scale
• 240 East 79th Street — 1929 rental converted to a co-op, 63 apartments, one avenue west
• 225 East 74th Street — 1938 co-op of about the same period
• 235 East 73rd Street — 1936 co-op, same era
• 345 East 73rd Street — 1961 rental converted to a co-op in 1985, larger, postwar
• 300 East 79th Street — condominium at the corner of the same block, if you want condo ownership