406 Eighth Avenue

Built in 1986, 406 Eighth Avenue is a 12-story post-war elevator building — brick and masonry with a retail base and 50 feet of frontage on Eighth Avenue. The gross area runs to approximately 26,050 square feet, of which roughly 20,414 square feet is residential; the balance is commercial, comprising office space and ground-floor retail. The building was constructed new as a residential and mixed-use structure, not converted from a prior use, with the condominium sellout following around 2000–2002.

The residential inventory totals 29 units — 30 including the commercial unit — configured at roughly three apartments per floor. Layouts run from studios and one-bedrooms through convertible two-bedrooms. The top floor holds a penthouse with a private terrace of approximately 800 square feet, the building's premier outdoor space and its largest single configuration. Live/work use is permitted, a flexible feature consistent with the building's mixed residential and commercial character.

406 Eighth Avenue operates as a condominium with full-service staffing. The building runs a full-time (24-hour) doorman — uncommon for a 29-unit building and a favorable staffing-to-unit ratio. The principal amenity infrastructure is the doorman, an elevator, a laundry room, and the penthouse-level private terrace. No fitness center or pool is noted; the amenity program is centered on the doorman service and the building's convenience rather than a resort package.

As a condominium, the ownership and policy picture is straightforward. Cats and dogs are allowed. Subletting and pied-a-terre use are generally permitted under standard condominium procedures, and live/work use is permitted. There is no ground lease and no HDFC restriction — the units are individually deeded with clean title. Common-charge and assessment specifics should be confirmed at the unit level; building-level figures are not published in aggregated form.

Recent sales

Recent closings 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. Most recent trades (2006) cleared a median $1,045/sf (recorded) across 1 sale.

Sales sourced from NYC Department of Finance recorded transfers (BBL 1-00780-7501). 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 from recorded condo declarations and offering plans.

The full-time doorman is the headline amenity. A 24-hour doorman serving 29 units is a favorable ratio and uncommon at this scale. For buyers who want full-service operation — package handling, security, presence — in a boutique building, this is the draw.

The ownership is clean. Built new in 1986, individually deeded, no ground lease, and not HDFC. There are no material ownership or lease complications on record. The diligence here is about the unit and the building's finances, not its structure.

The condominium form brings flexibility. Subletting, pied-a-terre use, and live/work are generally permitted under standard condominium procedures, and cats and dogs are allowed. Confirm the current rules, but the baseline is accommodating.

The penthouse terrace is a distinct asset. The top-floor penthouse carries a private terrace of roughly 800 square feet — a rare outdoor amenity in the building and its premier configuration.

The location is transit-rich. Steps from Penn Station, Moynihan Train Hall, Herald Square, Madison Square Garden, and Hudson Yards, with the A/C/E and 1/2/3 nearby. Verify common charges, the reserve position, and the current sublet rules with the managing agent during due diligence.

Lead with the full-service operation and clean ownership. A 24-hour doorman in a 29-unit condominium, built new, with no ground lease and no HDFC restriction — these are the marketable anchors. Position the staffing ratio and the straightforward title clearly.

Frame the location. Penn Station, Moynihan Train Hall, Herald Square, Madison Square Garden, Hudson Yards, and the A/C/E and 1/2/3 are the connectivity argument for the Chelsea / Midtown South border.

Price against the specific layout and the most-recent comp. With low turnover and roughly three units per floor, comparable data is thin. Reference the most-recent recorded close on a comparable studio, one-bedroom, or two-bedroom configuration; the penthouse with its terrace is a standalone comp.

Closing timelines are condominium-standard. No board approval to purchase in the cooperative sense; confirm the current condominium procedures, including any right of first refusal and the sublet rules, with the managing agent.

If you're considering 406 Eighth Avenue, also evaluate nearby Chelsea and Midtown South condominiums — comparable full-service and boutique condominium buildings along the Eighth Avenue and West 30s corridor that combine individually deeded ownership with the neighborhood's transit access.