38 Warren Street (The Keystone Building)
38 Warren Street, New York, NY 10007
- Year built
- 1900
- Type
- Boutique residential condominium — historic Tribeca loft building converted to for-sale residences
- Units
- 24
- Floors
- 9
- Landmark
- Designated
- Pets
- Pet-friendly
- Subletting
- Permitted under the condominium declaration — confirm at offer stage
- Pied-à-terre
- Allowed
Every recorded sale at this building, 2004–2025
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $1,797
- Listing discount
- 3.4%
- Recorded sales
- 29
- On record
- 2004–2025
38 Warren Street is a boutique loft condominium in the heart of Tribeca, on the Warren Street block between Church Street and West Broadway. It belongs to the category of Tribeca address that buyers seek deliberately: a turn-of-the-century loft building, adapted to for-sale residential use at intimate scale, on one of the neighborhood's quieter, more residential corridors a short walk from the Financial District corridor, the Hudson River Park, and the dining and retail ecosystem that defines lower Manhattan's most established luxury residential district.
What distinguishes a building like 38 Warren is scale and character rather than amenity volume. With 24 residences, the building sits at the boutique end of the Tribeca condominium spectrum — a deliberate contrast to the large-format, heavily amenitized new-construction and conversion towers that have defined the neighborhood's post-2010 development cycle. Buyers who respond to 38 Warren are typically choosing the loft-building experience: the proportions, ceiling heights, window scale, and material character that a 1900-era Tribeca structure provides, in a low-density building where day-to-day life is quieter than at the corridor's marquee high-rises.
Tribeca's appeal as a residential market rests on exactly this combination — historic loft architecture, cobblestone-and-brick streetscape, proximity to the waterfront and the Financial District, and a school and family ecosystem that has made the neighborhood one of downtown Manhattan's most durable luxury submarkets. 38 Warren participates in that market as a boutique, character-driven option rather than a full-service tower, and its value proposition should be read in that light.
Architecture and unit composition
The original 1900 structure is a Tribeca commercial loft building — masonry construction with the floor-plate proportions and fenestration of the district's early-20th-century industrial stock. The 2001 residential conversion adapted that structure to 24 for-sale condominium residences across nine stories.
Loft conversions of this vintage and scale typically deliver the architectural qualities buyers come to Tribeca for: generous ceiling heights, substantial window openings, and floor plates that allow for open, light-filled layouts. Apartment-level configuration, finish state, and renovation history vary residence to residence in boutique conversion buildings of this kind, and the per-apartment details — square footage, exposure, outdoor space, and finish package — should be reviewed individually rather than assumed from the building profile. We confirm apartment-specific particulars at offer stage.
As with any historic loft conversion, the relationship between the preserved original structure and the modern systems introduced during conversion is a meaningful diligence item. Buyers should review the offering plan, building systems documentation, and any engineering reporting to understand the condition of the building envelope, mechanicals, and common elements.
Building operations
38 Warren Street operates as a boutique residential condominium. The building runs a video-intercom (no-doorman) service model with a full-time superintendent, and offers an elevator, a gym, a roof deck, bike storage, and in-unit laundry. As a boutique loft condominium, it runs leaner operations than a full-service tower, which is reflected in both the resident experience and the carrying-cost profile.
Common charges and property taxes for any specific residence should be reviewed at the apartment level. The condominium permits pied-à-terre use, subletting, pets, and foreign-buyer ownership under the declaration. The building's precise sublet policy, reserve adequacy, any planned capital work, and the maintenance posture are standard diligence items for a conversion of this vintage; review the offering plan, current house rules, and recent financial statements during due diligence.
Recent sales
Pricing at 38 Warren should be read at the apartment level, within the broader Tribeca boutique-loft submarket. Tribeca per-square-foot pricing varies widely by building, by apartment, and by condition — historic loft conversions, marquee new-construction towers, and waterfront product trade at meaningfully different ranges, and within any single building, view, exposure, floor, outdoor space, and finish state drive substantial variation. We do not publish a building-level per-square-foot figure here because a single number would mislead more than it informs; the right comparable analysis is apartment-specific and current.
For a buyer or seller evaluating a transaction at 38 Warren, the productive exercise is a tailored comparable set: recent closings at peer boutique Tribeca loft conversions, adjusted for the specific residence's configuration, condition, and outdoor space, read against the building's carrying-cost profile. We assemble that analysis at the apartment level using The Roebling Research Library and NYC Department of Finance recorded transfers, and we confirm the specifics at offer stage rather than relying on neighborhood averages.
Recent closings at this building, curated by The Roebling Team research desk. Apartment-level facts are independently verified before publishing; sale prices reflect the recorded transfer amount at the NYC Department of Finance.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Jul 29, 2025 | 2C | 3 BR · 2,815 sf | $4,000,000 | $1,421/sf | off-mkt |
| Jun 28, 2024 | 2B | 3 BR · 2.5 BA · 2,263 sf | $3,300,000 | $1,458/sf | -5.7% |
| Sep 27, 2022 | 9A | 2 BR · 2 BA · 1,248 sf | $2,825,000 | $2,264/sf | off-mkt |
| Apr 29, 2022 | 7C | 2 BR · 2 BA · 1,850 sf | $3,100,000 | $1,676/sf | +3.5% |
| Feb 3, 2022 | 6A | 2 BR · 2 BA · 1,248 sf | $2,910,000 | $2,332/sf | +0.3% |
| Dec 6, 2021 | 7B | 2 BR · 2.5 BA · 1,955 sf | $2,995,000 | $1,532/sf | -3.4% |
| Jul 16, 2021 | 8A | 2 BR · 2 BA · 1,248 sf | $2,175,000 | $1,743/sf | off-mkt |
| Jun 15, 2021 | 9B | 2 BR · 2.5 BA · 1,955 sf | $3,250,000 | $1,662/sf | off-mkt |
Market read. Most recent trades (2025) cleared a median $1,797/sf across 1 sale. Median listing discount 3.4% 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.
Other recent transfers
| Date | Unit | Price |
|---|---|---|
| Jul 1, 2004 | 5C | $2,250,000 |
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 1-00136-7502) 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
The boutique scale is the point. With 24 residences, 38 Warren offers a low-density, character-driven loft-building experience rather than a full-service tower's amenity volume. Buyers who prioritize quiet, intimacy, and historic loft architecture are the natural fit; buyers who want extensive on-site amenities may prefer the corridor's larger buildings.
Diligence on the conversion matters. This is a 1900-era loft building adapted to residential use. Review the offering plan, building systems documentation, reserve study, board minutes, and any engineering reporting to understand the condition of the historic structure and the modern systems introduced during the 2001 conversion.
Apartment-level review is essential. In boutique loft conversions, residences vary in layout, light, outdoor space, and finish state. Evaluate the specific apartment on its own terms rather than from the building profile.
Condo flexibility is real. The condominium permits pied-à-terre use, subletting, pets, and foreign-buyer ownership under the declaration; confirm the precise sublet policy during due diligence.
Run the carrying cost. Model common charges, property taxes, utilities, and insurance at the apartment level. Boutique buildings carry differently than full-service towers, and the math is residence-specific.
Mansion tax thresholds may apply. Depending on price, one or more mansion-tax cliff thresholds can apply. Run pricing through the Mansion Tax Calculator.
What to know if you’re selling
Position the boutique loft story. 38 Warren's value is in its historic character, intimate scale, and Tribeca location, not in amenity breadth. Marketing should lead with the loft architecture and the neighborhood rather than competing on services with larger towers.
Pricing requires apartment-level context. Comparables in Tribeca are heterogeneous; the right pricing analysis is residence-specific and current, adjusted for configuration, condition, and outdoor space.
Buyer reach matters in Tribeca. The buyer pool for boutique Tribeca lofts is discerning and includes downtown-focused local buyers as well as relocating and international buyers. Access to the full Tribeca and downtown buyer network is material.
Closing timelines are condo-fast. Condominium closings typically run on a 30–45 day timeline; confirm building-specific transfer requirements at offer stage.
Comparable buildings
If you're considering 38 Warren Street, also evaluate:
- 443 Greenwich Street — Tribeca loft conversion (1882 / 2014–2016); substantial-scale residences with signature privacy infrastructure
- 56 Leonard Street — Herzog & de Meuron Tribeca "Jenga Building" (2017)
- 108 Leonard Street — landmark conversion in the heart of Tribeca
- 155 Franklin Street — boutique Tribeca loft condominium
- 195 Hudson Street — Tribeca loft conversion on Hudson Street
- 111 Murray Street — Tribeca / Financial District condominium tower
The Roebling Team at The Keystone Building
The Roebling Team at Compass covers the full Manhattan luxury residential market — including the Tribeca and Financial District corridor boutique-loft submarket. We publish this building profile because buyers and sellers of boutique Tribeca lofts deserve building-specific intelligence — architecture, operational reality, transactional mechanics, and apartment-level pricing context — rather than generic neighborhood commentary.
If you're considering a purchase or sale at 38 Warren Street, a 30-minute consultation is the right starting point. We'll bring the full context this page provides plus the transactional specifics your situation requires — comparable analysis at the apartment level, due diligence priorities for a historic loft conversion, financial structuring, and a pacing strategy that fits your timeline.
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Financial District — read The Roebling Team Guide to Financial District.
Get the full picture on this building.
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