- Year built
- 2006
- Type
- Condominium
- Units
- 1601
- Floors
- 80
- Landmark
- No
Every recorded sale at this building, 2010–2023
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $1,536
- Listing discount
- 10.0%
- Recorded sales
- 18
- On record
- 2010–2023
The most useful thing to know about this building is that the public data describes a different one.
PLUTO says 1910 and flags a 2007 alteration, which reads as a prewar loft conversion and is how the address is routinely characterized. The Department of Buildings record says otherwise, and it says it plainly. A new-building application was filed on 8 February 2006 for an eight-story, 80-foot structure with fourteen dwelling units and 32,450 square feet of construction floor area. A demolition application followed in May 2006, taking a six-story building to zero. Two separate alteration applications in the same period are each described, in the applicant's own words, as "partial removal of building in order to build new building." The new-building job was permitted in September 2007 and signed off on 28 January 2011. The offering plan, held in The Roebling Research Library, closes the question from the other direction: it describes the elevator as one that "will be newly installed in a building newly constructed."
Two nineteenth-century buildings stood at 350 and 352 West 23rd Street. Their lots were merged in 2006, they came down, and what replaced them is Modern 23 — fourteen residences behind a fifty-foot frontage, delivered into the market at the bottom of the cycle. The Department of Finance simply never updated the year-built field, and the error has propagated into every automated valuation product keyed to it.
The consequence is practical. A buyer or a lender running comparables on the assumption that this is prewar loft product will select the wrong set: the plates, the ceiling heights, the window systems, the mechanical age and the envelope condition are all those of a 2011 building. A seller marketing it as a loft conversion is understating the mechanical position and misstating the architecture.
The second thing worth knowing is the tax history, because it is finished. The offering plan projected a 421-a exemption, the exemption was granted, and it ran on each unit lot from the 2010/11 assessment roll through 2018/19, phasing down year over year exactly as the program prescribes. It is now gone. The current rolls carry zero exemption on every unit lot in the building. Unlike much of the 2007-to-2012 condominium vintage in Chelsea, there is no step-up left to price in here — the taxes a buyer sees are the taxes.
Architecture and unit composition
Fifty feet of frontage on the south side of West 23rd Street, eight stories, no historic-district overlay, and a floor plan that follows from a 4,938-square-foot lot: two residences per floor, an A line and a B line, from the first floor through the sixth, with two penthouses above. The A and B lines are genuine paired comparables on each floor, which is more internal precedent than most fourteen-unit buildings offer.
The offering plan sets out the limited common elements that separate the residences from one another, and they are what drive value inside the building. The two first-floor residences have private gardens at the rear. Certain upper residences carry balconies, and certain others carry assigned roof areas. Storage bins of roughly 17 to 19 square feet are assigned to units, with a substantially larger bin — roughly 49 square feet — assigned to a top-floor residence. There is a common bicycle storage room. The plan's own schedule shows first-floor plates in the 1,800-to-2,300-square-foot range, which places this in the large-two-bedroom and three-bedroom band rather than the studio-and-one-bedroom band that dominates the Eighth Avenue corridor a block east.
The building is entirely residential. PLUTO records no commercial area at all, which is unusual on this stretch of West 23rd Street and means there is no retail tenancy contributing to — or complicating — the common charge base.
Building operations
Fourteen owners carry an eight-story building that is fifteen years old.
There is no staff, no doorman and no amenity program beyond the elevator, the bicycle room and the assigned storage. That keeps common charges low relative to full-service Chelsea condominiums and puts the entire burden of building management on a small board and a managing agent. The building is not landmarked, so façade and window work carries no LPC permitting layer — a real cost and schedule advantage over the Chelsea Historic District Extension stock one block south, and one of the few places where the boundary running through this tax block works in the building's favor.
The building's age is its principal operating fact. A 2011 structure is now entering the first serious capital window: the roof, the elevator, the boiler and the façade sealants and pointing are all at or approaching the point where the first major replacement decisions get made. The offering plan noted that the elevator would be serviced by the installer for the first six months and by contract thereafter; fifteen years on, that contract and the elevator's condition are worth reading. Request the current operating budget, the reserve balance, the most recent audited financial statements, the Local Law 11 filing status, and any assessment history. Fourteen owners is a small denominator for an eight-story building, and the reserve position is the single most useful number in the file.
Policy framework
Ownership form: Condominium. Purchases close through a right of first refusal rather than a board approval, producing predictable 30-to-45-day timelines. The offering plan states there is no limit on the number of units a single owner may hold, and that a unit owner is free to make a gift of a unit — both are worth confirming against the current by-laws.
Pets: Permitted. The Second Amendment to the offering plan amended the by-laws' house rules to address dogs and cats. Confirm current conditions with the managing agent.
Subletting, pied-à-terre, LLC, trust and foreign ownership: Governed by the declaration and house rules rather than by public record. The condominium form permits all of them by default. Read the declaration and confirm with the managing agent.
Financing: No minimum down payment is documented in public records. Standard condominium underwriting applies; note that lender concentration tests can bite in a fourteen-unit building if a single owner holds more than one residence. Confirm the ownership breakdown.
Flip tax: Not documented in public records. Confirm any resale capital contribution with the managing agent before pricing a sale.
Real estate taxes: The 421-a exemption granted at completion has fully expired. Current rolls show no exemption on any unit lot. Underwrite full unabated taxes — there is no phase-out remaining and no step-up coming.
Landmarks: Lot 7507 is not designated. Exterior work requires no LPC permit. Verify by lot rather than by block: twenty-eight properties on this same tax block are inside the Chelsea Historic District Extension, all of them on the West 22nd Street and Ninth Avenue frontages.
Storage: Bins are assigned to specific units as limited common elements rather than sold separately. Confirm which bin, and its size, conveys with the specific residence.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $0 (under cap)
- Per unit / month range
- —
Source: NYC LL84 benchmarking and PLUTO · The Roebling Research Library. City record last verified September 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →Facade safety — Local Law 11
The latest available FISP filing classified the facade as Safe — no repairs were required at that inspection. Facade inspections run on a fixed five-year cycle; future inspection, repair, and any assessment decisions remain building-specific.
How to read this, and where it comes from
QEWI = Qualified Exterior Wall Inspector — the licensed engineer the city requires to sign the report (the independent expert, not the managing agent).
Penalties shown are amounts DOB assessed against filings on record across 2015–20 to 2020–25. The FISP dataset does not record whether they were paid, contested or remain open, so treat the figure as history rather than a current balance and confirm the building’s standing with the managing agent.
Source: NYC DOB facade filings (FISP) · The Roebling Research Library. City record last verified September 2026.
421-a Tax Abatement
- Benefit ended
- 2022
- Fully taxed since
- 2022
- Program
- 421-a (10-year)
The 421-a benefit has run its term. Taxes on these units have stepped up toward the full assessed amount, so the low carrying cost this building once carried is no longer available. Price from the current tax bill, and treat any comparable sale made while the abatement was still running as a different asset.
Source: NYC Dept. of Finance property-tax exemption records (421-a), refreshed 2026-09-06 · The Roebling Research Library. Confirm the exact step-up schedule on the building’s DOF tax bill. The benefit last appears on the 2021 assessment roll, which is what dates the end of the term.
Recent sales
350 West 23rd Street prices on a price-per-square-foot basis against the Chelsea condominium market, and the comparable set should be 2005-to-2012 boutique new construction, not prewar loft conversion. That distinction is the single most consequential thing to get right about this address, and getting it wrong in either direction moves the number.
Inside the building, the A and B lines produce paired comparables on each floor, and the value spread is driven by outdoor space more than by anything else: the two first-floor residences with private rear gardens, the residences with balconies, and the top-floor residences with assigned roof areas each sit in a different band from the plain plates. Floor level and light matter, but on a fifty-foot mid-block lot with light from the street and the rear, outdoor space is the differentiator that reads in a price.
Against the wider Chelsea market this is boutique, unstaffed, entirely residential product with large plates and no remaining tax benefit. It carries less monthly cost than a full-service tower and offers less service; it offers more square footage per dollar than the small-unit inventory along Eighth Avenue. Buyers who want a real three-bedroom in Chelsea without a doorman bill are the natural audience. Market statements should be indexed to the last complete year rather than to partial-year activity in a fourteen-unit building. Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
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 |
|---|---|---|---|---|---|
| Apr 5, 2023 | 5B | 3 BR · 2.5 BA · 1,912 sf | $2,850,000 | $1,491/sf | -4.8% |
| Dec 13, 2022 | PHB | 4 BR · 2.5 BA · 2,541 sf | $4,375,000 | $1,722/sf | -12.4% |
| Jul 22, 2021 | 4B | 3 BR · 2.5 BA · 1,912 sf | $2,700,000 | $1,412/sf | -10.0% |
| Jun 10, 2015 | 2B | 3 BR · 1,912 sf | $3,180,000 | $1,663/sf | -2.2% |
| Feb 28, 2011 | PHBSponsor Sale | 3 BR · 2,541 sf | $3,950,000 | $1,555/sf | -7.1% |
| Oct 14, 2010 | 2ASponsor Sale | 2 BR · 1,662 sf | $1,675,000 | $1,008/sf | -2.9% |
| Oct 14, 2010 | 1ASponsor Sale | 1 BR · 1,803 sf | $1,500,000 | $832/sf | -10.4% |
| Jun 23, 2010 | 5BSponsor Sale | 3 BR · 1,912 sf | $2,050,000 | $1,072/sf | -14.6% |
Market read. Most recent trades (2023) cleared a median $1,536/sf across 1 sale. Median listing discount 10.0% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Full closing history with price-per-square-foot over time, the complete retrade record, and every line that has traded.
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-00746-7507) 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.
What to know if you’re buying
This is a 2011 building, not a 1910 loft. PLUTO's year built is wrong. The new-building job was signed off on 28 January 2011 after a demolition and two partial-removal alterations. Correct the comparable set before you do anything else — the mechanical age, envelope, ceiling heights and plate geometry are all new-construction facts.
The 421-a is gone. It ran from the 2010/11 roll through 2018/19 and phased out completely. Current rolls show zero exemption. There is nothing left to burn off, and there is no step-up ahead. Underwrite the taxes you see.
Fourteen owners carry an eight-story building entering its first capital cycle. Read the reserves, the Local Law 11 status, the elevator and roof condition, and any assessment history before you read the floor plan.
Outdoor space is the price driver inside the building. Private rear gardens on the first floor, balconies on some upper residences, assigned roof areas on others, and storage bins that vary from 17 square feet to roughly 49. Confirm exactly which limited common elements convey with the specific unit — the declaration governs, not the listing.
Check the landmark status by lot. Twenty-eight properties on this tax block are inside the Chelsea Historic District Extension. This lot is not one of them. That is a cost advantage on any exterior work, and it is easy to get backwards.
No artist restriction, no Loft Law, no J-51. None of the Chelsea and Tribeca loft-conversion complications apply to this building. The occupancy is ordinary R-2 multiple dwelling.
What to know if you’re selling
Correct the year built in the marketing, explicitly. Buyers, agents and appraisers will pull PLUTO and see 1910. State the January 2011 new-building sign-off and let the record do the work. Selling a 2011 building as a prewar conversion invites the wrong comparables and an appraisal that comes in short.
Lead with the plate and the outdoor space. There is no amenity list. What there is instead is a large residence on a two-per-floor plan with a garden, a balcony or roof access, and no doorman bill. That is the argument, and it is a specific buyer.
Be direct about the taxes. The 421-a expired years ago. Buyers who have been burned by expiring abatements elsewhere will treat a clean, fully-taxed position as a feature once it is explained. Volunteer it.
Have the capital story ready on day one. Fifteen years in, with fourteen owners, buyers ask about reserves, roof, elevator and façade before anything else. Answering proactively closes faster than answering under contract.
Document the limited common elements. Which bin, which balcony, which roof area, which garden. Put the declaration language in the marketing file so it never becomes a contract issue.
Comparable buildings
If you're considering 350 West 23rd Street, also evaluate these Chelsea buildings:
- 344 West 23rd Street — the immediate neighbor on the same block face
- 315 West 23rd Street — West 23rd Street building directly opposite
- 255 West 23rd Street — larger West 23rd Street building to the east
- 240 West 23rd Street — West 23rd Street condominium near Seventh Avenue
- 128 West 23rd Street — the Graydon Chelsea; boutique new construction of a later vintage
- 148 West 23rd Street — West 23rd Street loft conversion; the conversion alternative
- 249 Eighth Avenue — Eighth Avenue building one block east
- 212 Ninth Avenue — Ninth Avenue boutique building one block west
- 140 West 22nd Street — West 22nd Street building of comparable unit count
- 121 West 20th Street — boutique Chelsea condominium of similar scale
- 101 West 24th Street — Chelsea condominium one block north
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Chelsea — read The Roebling Team Guide to Chelsea.
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.
Considering a move at Modern 23, the marketing name adopted in the offering plan?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at Modern 23, the marketing name adopted in the offering plan 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.