407 Greenwich Street (15 Hubert Street)
407 Greenwich Street, New York, NY 10013
Tribeca
BBL 1002147504 · BIN 1002799
- Year built
- 1867
- Type
- Condominium
- Units
- 1301
- Floors
- 6
- Landmark
- No
- Pets
- Not documented in the records reviewed — confirm the house rules with the managing agent
Frederick Beckstein put up this building in 1867, one of the first commercial structures at the northern end of what is now the Tribeca West Historic District, on lots he had just bought from a fire-insurance company. It replaced three early-nineteenth-century houses on Greenwich Street and a small building on Hubert. John M. Forster designed it as a store and loft — and, the Landmarks Preservation Commission concludes from the restraint of the design, primarily for storage rather than retail.
What it stored says almost everything about nineteenth-century lower Manhattan. Beckstein sold in 1881 to W. & J. Sloane, the carpet firm, which occupied it until around 1890. In the 1890s it was a cheese warehouse. In the early 1900s the R.M. Winans storage business had it. From roughly 1940 until the late 1960s it was the Embassy Grocery Corporation, whose painted advertising sign survives on the flank of the neighboring building. In the 1980s it was a bakery warehouse, and a renovation late in that decade covered its brick façades in scored stucco and stripped the base cornice.
Tribeca M. Corp. took title by referee's deed in June 1992 and held the building for twenty-four years before converting it. The conversion itself is a CetraRuddy project: interior demolition filed in January 2008, a zoning and egress application in March 2010, and the alteration that carried the occupancy from J-2 to R-2 in March 2011, with the work completed mid-decade and a penthouse level added above the original five stories. The declaration was recorded on December 20, 2016, and the first units closed in 2017.
That produces twelve loft residences of roughly 2,300 square feet and up, in a landmarked 1867 masonry building on a granite-paved Hubert Street corner, at a scale where the entire building is smaller than a single floor of a new-development tower. Tribeca has very little of this left and is not making more of it.
Two things about this building are frequently gotten wrong, and both are consequential. Its construction date is 1867, not the 1915 the city's own datasets carry. And it sits in the Tribeca West Historic District, not Tribeca North — which matters because the two districts are separately designated with separate reports, and because the building on the neighboring block at 408 Greenwich Street, which is in Tribeca North, is a different building on a different block with a different regulatory record entirely.
Architecture and unit composition
The Landmarks Preservation Commission's description is worth reading as a renovation brief. The building is L-shaped, seventy-five feet across Greenwich Street and twenty-one feet on Hubert. It was built as three nearly separate twenty-foot-wide buildings behind a single elevation, with interior brick partition walls serving as structure and firebreak — an arrangement expressed on the exterior by three identical bracketed sheet-metal cornices and by wider piers at the base. Italianate lintels top the tall window openings. The Hubert Street façade is treated similarly but with a less ornate cornice. Cast-iron piers survive at the base of both elevations, though the cornices and capitals were removed. A low loading platform runs along the Greenwich Street front, and granite slab vault covers along Hubert.
The exposed eastern brick elevation is windowless. That is the single most important massing fact for a buyer: light in this building comes from Greenwich Street and Hubert Street, and the interior brick partition walls that once divided three warehouses shape the floor plates that were carved out of them.
Residences are full-floor and half-floor lofts. The Department of Finance carries typical unit areas in the 2,270 to 2,830 square foot range, with duplex penthouses in the addition above. The scale, ceiling heights and window rhythm are the products of an 1860s storage building, which is precisely the appeal — and which also means column placement and irregular bay arrangement are real design constraints inside individual apartments. Walk the plan.
Building operations
Twelve residences is a small denominator for a full building's fixed costs, and buyers should read this building's economics accordingly rather than by analogy to a larger Tribeca condominium.
The building's service contracts, as described in the offering plan on file, cover elevator, HVAC, fire alarm, sprinkler, compactor, roof terrace landscaping, video and an emergency generator. There is a roof terrace. The plan projects residential common charges covering corridor HVAC, building ventilation, lighting, elevator and plumbing equipment. A published concierge or amenity roster beyond this is not established in the records reviewed — confirm the current staffing model with the managing agent.
The commercial unit at the base is part of the condominium and part of the picture. Ground-floor food-and-beverage occupancy at 407–411 Greenwich appears in Department of Buildings filings from 2001 forward. Its common-charge share, its use, its hours and its mechanical impositions on the residential units above are legitimate diligence questions in a building this size.
Landmark status is the other structural cost. A masonry façade in a designated district, with a nineteenth-century cornice program and a stucco overlay applied in the 1980s, carries a real Local Law 11 cycle and a Landmarks approval step in front of every filing. Ask for the current façade filing status and the reserve position against it.
The 1915 problem, and the district problem
Year built. PLUTO and the Department of Finance both carry 1915. The Landmarks Preservation Commission's designation report carries 1867 with the new-building docket number, the owner's name and the source of the lots. Where a primary designation record and a derived city dataset disagree on a construction date, the designation record wins. Nothing in the Department of Buildings record supports a 1915 construction date for this structure; PLUTO's alteration years for the lot are 2015, which reflects the conversion, not the building.
Why it matters commercially: a 1915 date puts the building in a different architectural cohort, a different comparable set and a different structural expectation than an 1867 store-and-loft with cast-iron supports behind a masonry front. Buyers and appraisers who take the PLUTO date at face value are comparing this building to the wrong stock.
Historic district. PLUTO's historic-district field is blank for the condominium billing lot. The Landmarks Preservation Commission's permit database files the underlying tax lot — block 214, lot 6 — squarely inside the Tribeca West Historic District, under both the 407 Greenwich Street and 407–411 Greenwich Street addresses, with the 15 Hubert Street address cross-referenced to the same entry. Every Department of Buildings filing for this building since 2001 carries the landmark flag set to "Y." The building is landmarked. Exterior work requires a Landmarks permit first.
This is the standard failure mode of PLUTO's historic-district field on condominium billing lots: the designation attaches to the underlying lot, and the derived field on the new billing lot comes back empty. Check LPC by tax lot, not PLUTO.
Policy framework
Ownership form: Condominium. Purchases close through a right of first refusal rather than a cooperative board approval — 30 to 45 days is typical.
Pied-à-terre, LLC, trust and foreign ownership: Available under the standard condominium framework.
Subletting: Permitted under the standard condominium framework. Note that the offering plan on file reserves to the sponsor and its designees broader rights to lease units than other unit owners hold, and its special-risks section discloses that the sponsor did not limit the conditions under which it would rent rather than sell units and made no commitment to sell more than the statutory minimum. That disclosure is standard in New York offering plans and it did not describe how this building actually turned out — see the sales section — but a buyer should understand it is in the plan.
Pets: Not documented in the records reviewed. Confirm the house rules.
Flip tax: None appears in the offering plan on file. A working capital fund contribution is payable at closing.
Air and development rights: The offering plan reserves air and development rights to the sponsor, contemplates merged zoning lots, and discloses that a transfer of development rights to an adjoining owner could affect a unit owner's views. Ask counsel to confirm the current status of those rights and whether any transfer has been recorded.
Real estate taxes: No abatement of any kind, at any point. Underwrite the full unabated bill on the specific unit against the True Monthly Carrying Cost Calculator.
Local Law 97
- 2024–2029 annual penalty
- $16,963/yr
- 2030–2034 annual penalty
- $54,597/yr
- Per unit / month range
- $118 – $379
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 sellout here was long and deliberate rather than fast. Sponsor closings began in 2017 and the last recorded sponsor sale was in 2025 — a nine-year distribution across twelve residences, which is unusual and which tells you something real about how this building was brought to market. Resales have run alongside since 2021.
The recorded transfers go to separate, unrelated purchasers, including individuals, single-purpose entities and revocable trusts, with no bulk transaction and no single holder of the residential inventory. Several apartments have now traded twice.
On pricing, the building sits in the Tribeca loft-conversion tier rather than the new-development tier: buyers here are paying for floor plate, ceiling height, light on two street frontages and a landmarked 1867 shell, and they are not paying for a tower amenity program, because there is not one. The absence of any tax abatement is the largest single variable between the headline price and the true monthly cost, and it should be modeled before an offer rather than after. Comparables should be drawn from the small set of landmarked Tribeca loft conversions of similar scale rather than from Hudson Street and Greenwich Street new construction, whose economics are structurally different. Index any market statement to the last complete year. Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Recent closings at this building, sourced from NYC Department of Finance records. Apartment-level detail (line, condition, asking-price context) verified upon consultation request.
| Date | Unit | Price |
|---|---|---|
| May 19, 2026 | 5B | $6,950,000 |
| Jun 3, 2025 | 5A | $7,145,250 |
| Mar 21, 2022 | 5C | $5,925,000 |
| Mar 30, 2021 | 3B | $3,600,000 |
| Jan 3, 2019 | 5C | $5,550,187.5 |
| Jul 18, 2018 | 5B | $6,106,406 |
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 1-00214-7504) 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.
What to know if you’re buying
The building is from 1867, and the city says 1915. Correct the record in your own analysis, and expect that any automated valuation or comparable set you are handed has the wrong vintage.
It is Tribeca West, not Tribeca North. And it is not 408 Greenwich Street, which is a different building on a different block. Confirm you are reading the right regulatory record before relying on it.
There is no abatement and there never was. Not 421-a, not J-51, not anything. The tax number you see is the tax number you get, from the first bill.
The east wall is blind. Light comes from Greenwich Street and Hubert Street only. Understand exactly which exposures a specific unit has before you fall in love with a floor plan.
Twelve units is a small denominator. Read the operating budget, the reserve balance and the commercial unit's lease. One façade cycle across twelve apartments is a different proposition than across a hundred.
Ask about the development rights. The offering plan reserves them and discloses a possible view impact from a transfer to an adjoining owner. Have counsel establish whether anything has been recorded since.
Landmark permitting front-loads every renovation. Anything touching the exterior — windows, rooftop, façade, visible mechanical equipment — needs Landmarks approval before the Department of Buildings will act. Build it into the schedule.
What to know if you’re selling
Correct the vintage in your own materials. The 1867 designation entry, the original architect, Beckstein, W. & J. Sloane and the Embassy Grocery years are documented, citable and far more compelling than the 1915 date a buyer will otherwise pull off a data platform. Provenance sells in this market and this building has real provenance.
State the tax posture plainly. No abatement, no phase-out, no surprise — presented up front with a carrying-cost analysis, that is a clean fact rather than a discovery.
Position against loft conversions, not towers. The buyer for this building wants a landmarked floor plate in a twelve-unit house. Comparing it to amenitized new construction invites a comparison it will lose on terms that do not matter to the actual buyer.
Same-building comparables are thin. Twelve residences, a nine-year sponsor sellout and a handful of resales do not produce a reliable building average. Price the specific unit — floor, exposure, outdoor space, condition — and be prepared to defend it with outside comparables.
Comparable buildings
If you're considering 407 Greenwich Street, also evaluate:
- 408 Greenwich Street — the address most often confused with this one: a different building on a different block, in the Tribeca North Historic District, new construction rather than conversion
- 11 Beach Street — landmarked Tribeca loft conversion a block south; the closest peer by district, vintage and buyer pool
- 28 Laight Street — Tribeca loft conversion; comparable scale and floor plates
- 145 Hudson Street — Art Deco Tribeca loft conversion around the corner; the larger landmarked alternative
- 161 Hudson Street — Tribeca loft building; comparable conversion economics
- 100 Hudson Street — full-floor Tribeca loft conversion; the larger-building alternative
- 25 North Moore Street — boutique Tribeca loft conversion; similar unit count and buyer profile
- 27 North Moore Street — small Tribeca loft building; the boutique comparison
- 140 Franklin Street — landmarked Tribeca loft conversion; comparable district regulation
- 335 Greenwich Street — Greenwich Street loft building south of Duane; the same-street comparison
- 311 Greenwich Street — Greenwich Street building in southern Tribeca; the lower-corridor alternative
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Tribeca — read The Roebling Team Guide to Tribeca.
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 15 Hubert Street?
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