- Year built
- 1910
- Type
- Cooperative
- Units
- 18
- Floors
- 7
- Landmark
- No
- Pets
- Permitted
- Financing
- Maximum not firmly documented in public records — verify with the managing agent at offer stage
41 East 28th Street is the policy outlier of the NoMad co-op stock. Most Manhattan cooperatives restrict precisely the things this building permits: subletting after just one year of ownership, pieds-à-terre, co-purchasing, guarantors, and parents buying for children are all allowed per listing records. That stack — closer to condominium flexibility than to conventional co-op discipline — materially widens the buyer pool at resale and makes the building one of the few co-ops in the corridor that works for investors, relocating professionals, and family-assisted purchases alike. Paired with no underlying mortgage and low maintenance, the ownership math here reads more like a value condo than a pre-war co-op.
The physical product is the corridor's signature loft stock. The building went up around 1910, in the era when this block — once home to Gilded Age hotels and James Renwick Jr.'s 1879 St. Anthony clubhouse at No. 29, a few doors east — was turning over to commercial lofts. The 1980s residential conversion left three apartments per floor with 9-to-13-foot ceilings, oversized windows, and flexible plans that convert readily to additional bedrooms. At 18 residential units over a small retail base, it is a genuinely boutique house: private, quiet, and self-selecting.
The neighborhood has repriced around it. NoMad's last fifteen years — Madison Square Park's renaissance, Eataly, the hotel wave, and a run of new condominium towers from Madison House to the Ritz-Carlton block — have pushed the corridor's new-construction pricing well past $2,000 per square foot, while legacy loft co-ops like this one trade at a fraction of that per foot. For buyers who want the location and the ceilings without the new-development premium, this building is the structural arbitrage.
Architecture and unit composition
The building rises seven floors on a roughly 42-foot-wide lot mid-block between Madison and Park Avenue South, its loft-era bones visible in the window scale and floor heights. The 18 apartments run three to a floor — generally one- and two-bedroom lofts, with compact lines alongside larger 1,200-to-1,400-square-foot footprints per listing records — and the plans are the asset: open living spaces off defined entries, ceilings to 13 feet on the best floors, and conversion flexibility that has let owners add bedrooms and home offices without fighting the layout. Renovation quality varies unit to unit, from preserved simpler finishes to gut renovations with professional-grade kitchens; pricing tracks that spread. The two commercial units at the base are a fact of the maintenance math — retail income support is typical of the corridor's small co-ops — and their lease terms are worth a look during diligence.
Building operations
This is a self-service boutique cooperative: no doorman, keyed entry with video security, an elevator, and a bike room, run lean by a small board. The documented capital program — elevator, lobby, hallways, intercom, triple-pane windows, roof — and the absence of an underlying mortgage per listing records suggest conservative stewardship, but both should be confirmed against the audited financial statements during diligence. Buyers coming from staffed buildings should price the trade honestly: materially lower monthly carry against package logistics and no service layer.
Local Law 97
- 2024–2029 annual penalty
- $2,552/yr
- 2030–2034 annual penalty
- $25,346/yr
- Per unit / month range
- $12 – $117
Recent sales
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Recent transfers 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 |
|---|---|---|
| Jun 3, 2022 | 7B | $1,260,000 |
| Sep 3, 2021 | 6A | $1,400,000 |
| Jan 7, 2020 | 3A | $1,800,000 |
| May 10, 2019 | 6C | $925,000 |
| Jul 22, 2019 | 7B | $1,085,000 |
| Jul 20, 2016 | 2B | $995,000 |
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 1-00858-0032) 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 policy stack is the headline — verify it in writing. Sublets after one year, pieds-à-terre, co-purchase, guarantors, and parental purchases are permitted per listing records, which is an unusually flexible framework for a pre-war co-op. Policies evolve; we confirm current terms, sublet fees, and any caps with the managing agent before you offer.
Underwrite the small-building math. Eighteen shareholders share every capital decision and every roof. The no-underlying-mortgage posture and completed capital work are genuine strengths — have your attorney verify reserves, the retail leases, and any planned assessments in the financials.
No staff means no staff. Packages, renovations, and approvals run through a small board of neighbors. The maintenance savings are real; so is the self-service reality.
Loft flexibility rewards vision. The 9-to-13-foot ceilings and convertible plans are the value case — run the Renovation Cost Calculator against asking prices on unrenovated lines, and the Co-op Board Qualification Calculator before submitting.
Confirm financing and fee terms early. The financing maximum and any flip tax are not well documented publicly. Establish both with the managing agent at offer stage so the board package is built correctly the first time.
What to know if you’re selling
Market the policies explicitly. Most NoMad co-op listings cannot say "sublet after one year, pied-à-terre friendly, co-purchase permitted." Yours can, and that sentence widens the buyer pool to investors and family-assisted purchasers who are structurally excluded from competing co-ops. Lead with it.
Sell the carry, not just the space. Low maintenance with no underlying mortgage is a durable monthly-cost advantage over both the corridor's condos (common charges plus taxes) and its staffed co-ops. State the numbers plainly against the competition.
Price to condition and ceiling height. The spread between renovated and original units in small loft buildings is wide and known, and same-building comps are thin — adjacent loft-stock comparables matter more here. Renovated, high-ceilinged lines clear at premiums; estate-condition units clear when priced to the renovation math.
Comparable buildings
If you're considering 41 East 28th Street, also evaluate:
- 21 East 26th Street (The Whitman) — boutique pre-war condo conversion directly on Madison Square Park; the prestige step-up
- 45 East 22nd Street — the Flatiron new-construction tower; the full-amenity condo alternative
- The Grand Madison (225 Fifth Avenue) — large pre-war condo conversion on the park
- 50 Madison Avenue — boutique condo facing Madison Square Park
- Madison House (15 East 30th Street) — NoMad new-development condo; the corridor's current pricing ceiling
- 254 Park Avenue South — pre-war condo conversion; the condo analogue to this building's loft stock
- 260 Park Avenue South — landmark pre-war condo conversion at 21st Street; the larger full-service alternative
The Roebling Team at 41 East 28th Street
The Roebling Team at Compass works NoMad, the Flatiron corridor, and the broader Madison Square Park market as a core practice area. We publish this building profile because buyers and sellers here deserve building-specific intelligence — policy framework, small-co-op mechanics, and corridor-level comparables — not generic neighborhood commentary.
If you're considering a transaction at 41 East 28th Street, a 30-minute consultation is the right starting point.