407 East 12th Street (The Village Mews)
407 East 12th Street, New York, NY 10009
East Village
BBL 1004407502 · BIN 1086103
- Year built
- 1900
- Type
- Condominium
- Units
- 27
- Landmark
- No
Every recorded sale at this building, 2003–2025
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $1,481
- Listing discount
- 1.4%
- Recorded sales
- 56
- On record
- 2003–2025
Almost everything on these blocks is a tenement: five or six stories, a stoop, a rear yard shared by nobody in particular, and apartments whose front rooms sit directly over the sidewalk. 407 East 12th Street is not that. It is a deep, irregular lot behind a 48-foot street wall, built out around an interior courtyard, with 27 homes averaging roughly a thousand square feet — larger than the East Village's small-condominium standard by a wide margin.
That shape is the product of an assemblage rather than a design gesture. The sponsor acquired the property in 1999, filed in 2000 to convert an existing commercial building to residential, and in 2001 executed a zoning-lot development agreement with a related entity that owned the adjoining parcel. The offering plan on file records that the sponsor "utilized substantially all of the development rights allocable to the merged zoning lot." What came out the other side is a building with a genuine courtyard in a neighborhood that has almost none, and a set of easements over that courtyard held by two neighbors.
The city's 1900 year-built figure is the pre-conversion structure, not the apartments. Anything that weights building age — automated valuation output, listing filters, insurance underwriting — will read this as a nineteenth-century tenement, and it is not one. The residences are 2000–2002 work inside an older shell.
The most useful thing a buyer can know today is not in the marketing. On May 18, 2026 the condominium filed and had approved a Department of Buildings application to replace the building's exterior wall system — sheathing, waterproofing, flashing and continuous insulation across roughly 16,000 square feet, at a stated cost of $448,000. A masonry building does not usually need new sheathing; a wall assembly built out over an older frame during a conversion sometimes does. Whatever the diagnosis, this is a real project on a 27-unit denominator, and the reserve balance, the engineer's report and any contemplated assessment are the first three documents to ask for.
Architecture and unit composition
The building reads low and quiet from East 12th Street and opens up behind the street wall. Residences are lettered by position rather than by line — Front or Rear, then a compass quadrant, with a handful of "M" units occupying the middle of the plan — which tells you that no two exposures in the building are equivalent and that floor plates are irregular.
Nine of the 27 homes are on the first level, and several of those are the building's most distinctive product: the offering plan on file assigns greenhouse or sun rooms to units 1FNE, 1RNE, 1RNW, 1RSE and 1M, and patios or terraces to several first-floor residences. Upper-floor residences include duplexes and triplexes — Department of Buildings alteration filings over the last fifteen years reference an existing triplex spanning the fourth, fifth and penthouse levels, and multiple duplex renovations. Portions of the roof are reserved as limited common elements to specific units.
Practically, this means the building has no "stack." A first-floor unit with a greenhouse and a patio, a mid-building duplex and the top-level penthouse are three different products with three different buyer pools. Compare unit to unit here, never unit to building average.
Building operations
This is a small self-managed-scale condominium with a light staffing model. The original operating budget in the offering plan assumed a non-resident superintendent working roughly thirty hours a week for cleaning, refuse and routine maintenance — no doorman was budgeted, and none appears in later records. Current staffing should be confirmed with the managing agent rather than assumed from the plan, which is now more than two decades old. Common elements as defined in the plan include the elevator, laundry room, compactor rooms, boiler room and the courtyard.
The building is below the Local Law 11 / FISP threshold — the façade inspection program applies to buildings taller than six stories, and the Department of Buildings has no FISP filing on record for this address. That is a genuine carrying-cost advantage over the neighborhood's taller condominiums, and it also means the 2026 exterior wall project is being undertaken because the building needs it, not because a cycle forced it.
Earlier exterior work is on record: a sidewalk shed was permitted in 2014, and interior alteration filings have run more or less continuously since 2010 as owners renovate.
Policy framework
Ownership form: Condominium. Sales pass through the board of managers' right of first refusal rather than a cooperative approval. The offering plan on file is explicit that leases as well as sales are subject to the right of first refusal, and that leases may carry additional restrictions — a stricter posture than the condominium default, and worth reading in the current by-laws if you intend to rent the unit out.
Pets, pied-à-terre, subletting terms, LLC and trust ownership, minimum down payment, flip tax: not established in the documents we hold. The offering plan on file does not fix them, and house rules for a 27-unit condominium are not a public record. Obtain the current by-laws and house rules from the managing agent and read them against the plan before contract.
Real estate taxes: no abatement on the billing lot or any unit lot in the FY2021–FY2027 rolls, and no J-51 anywhere in the Department of Finance's historical file for these lots. Underwrite full unabated taxes against the current bill for the specific unit.
The courtyard: two adjoining owners hold recorded easements over it. Nothing permanent can be built in the rear courtyard, and a defined portion of the inner courtyard behind 411 East 12th Street is subject to a third party's rights. Confirm how those easements interact with any unit-level exclusive-use area you are buying.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $1,248/yr
- Per unit / month range
- $0 – $4
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 →Recent sales
The building sold out from the sponsor beginning in late 2002 and has traded on resale steadily since, with eighty recorded deeds across twenty-seven units. For a building this small, that turnover matters: it means same-building comparables exist.
Pricing here should be run against the East Village's converted and boutique condominium stock rather than against the surrounding walk-up co-ops, whose financing terms, approval process and buyer pool are structurally different. The two variables that move value most are outdoor space and plan type — a first-floor residence with a greenhouse and patio, a duplex, and the penthouse level are separate markets. The absence of any tax abatement means the headline price and the true monthly number sit closer together than they do at abated new construction nearby, which is an advantage when comparing carrying costs, because nothing steps up later. 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 |
|---|---|---|---|---|---|
| Aug 28, 2025 | 1RNE | 2 BR · 2 BA · 1,121 sf | $1,850,000 | $1,650/sf | -5.1% |
| May 13, 2025 | 5M | 1 BR · 1.5 BA · 807 sf | $1,195,000 | $1,481/sf | -4.4% |
| Mar 26, 2025 | 1FNE | 2 BR · 2.5 BA · 876 sf | $1,093,356 | $1,248/sf | off-mkt |
| Dec 5, 2024 | 3FE | 2 BR · 2 BA · 900 sf | $1,750,000 | $1,944/sf | -1.4% |
| Oct 31, 2023 | 2FW | 2 BR · 2 BA · 943 sf | $1,410,000 | $1,495/sf | -5.9% |
| Aug 15, 2022 | 4RNW | 2 BR · 2.5 BA · 1,000 sf | $1,995,000 | $1,995/sf | +0.0% |
| Jul 29, 2022 | 1M | 2 BR · 2 BA · 1,050 sf | $1,999,000 | $1,904/sf | +2.5% |
| Dec 28, 2021 | 3FW | 2 BR · 2 BA · 960 sf | $1,475,000 | $1,536/sf | -1.7% |
Market read. Most recent trades (2025) cleared a median $1,481/sf across 3 sales. Median listing discount 1.4% 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.
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 1-00440-7502) 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
Ignore the 1900 year built for anything but the shell. The residences date from 2000–2002. City data describes a commercial building that no longer exists in that form.
Ask about the 2026 exterior wall project first. Get the engineer's report, the scope, the funding plan, the reserve balance and the minutes. A $448,000 filing on 27 units is not a rounding error.
Read the courtyard easements. They are recorded, they bind the condominium, and they affect what can ever be built or changed in the rear and inner yards.
Confirm staffing. The plan budgeted a part-time non-resident superintendent. Whatever the building runs today, verify the actual coverage rather than assuming full service.
Every policy question goes to the managing agent. Pets, sublets, pied-à-terre use, entity ownership and any transfer fee are not settled by the documents on file.
Underwrite full taxes. No abatement, and none is coming.
What to know if you’re selling
Lead with the courtyard, the size and the outdoor space. Roughly a thousand square feet a home, an interior courtyard, greenhouses and terraces — none of that is available in the tenement stock these blocks are otherwise made of.
Correct the year built in your own materials. If the listing data pulls 1900 from the city, explain it. Left unqualified it invites a false comparison to prewar walk-ups and costs you buyers who filter on age.
Be straightforward about the exterior wall filing. Buyers' counsel will find it. Presenting it as a scoped, funded project with documents in hand is far better than letting it surface as a surprise in diligence.
Price against converted and boutique East Village condominiums, not against Avenue A walk-up co-ops.
Comparable buildings
If you're considering The Village Mews, also evaluate:
- 130 East 12th Street — a 1905 commercial loft converted to condominium; the closest structural analogue for an older shell holding new residences
- 125 East 12th Street — 44 residences in an 1888 loft conversion; the larger-denominator conversion alternative
- 114 East 13th Street — 41 residences, 1906 structure converted in 1984; a block away and a generation earlier in conversion vintage
- 525 East 11th Street (The Fillmore) — 26 residences built over an existing structure in 2003–2005; the same "old bones, new apartments" trade, with a garage instead of a courtyard
- 311 East 11th Street — 2008 ground-up condominium two blocks south; the new-construction comparison
- 421 East 13th Street — 84 residences, 2008; the full-amenity, larger-building alternative nearby
- 438 East 12th Street (Steiner East Village) — 82 residences, 2017; the current-generation product on the same street and a very different cost structure
- 212 Avenue B — 24 residences in a 1900 structure with ground-floor commercial; the closest Alphabet City peer by vintage and scale
- 240 East 10th Street (The New Theatre) — 1999 condominium; the immediately preceding conversion generation
- 298 East 2nd Street — seven full-floor residences, 2020, no abatement; the small, newer, no-abatement comparison
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across East Village + NoHo — read The Roebling Team Guide to East Village + NoHo.
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 The Village Mews in brokerage and listing records. The legal name in the offering plan on file and on every Department of Buildings filing is The 407 Condominium?
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 The Village Mews in brokerage and listing records. The legal name in the offering plan on file and on every Department of Buildings filing is The 407 Condominium 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.