42 Allen Street
42 Allen Street, New York, NY 10002
Lower East Side
BBL 1003087501 · BIN 1089620
- Year built
- 2017
- Type
- Condominium
- Units
- 8
- Floors
- 8
- Landmark
- No
- Amenities
- Virtual concierge, private storage, bicycle storage. There is no doorman
- Pets
- Not documented — confirm the house rules with the managing agent
Every recorded sale at this building, 2020–2025
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $1,211
- Listing discount
- 3.9%
- Recorded sales
- 11
- On record
- 2020–2025
Allen Street is unusual for the Lower East Side. Widened in the 1930s when the Second Avenue elevated came down, it carries a landscaped median and a genuinely open sky between low tenement blockfronts, and it sits directly on the seam where the Lower East Side, Chinatown and the Two Bridges area meet. 42 Allen Street occupies the corner at Hester with frontage on both streets — light on two elevations on a street grid that rarely provides it.
The building's history is a two-step, and reading it correctly matters for a buyer. It was constructed as a new building under an application filed in January 2012 by the family company that had owned the corner since 1996; construction ran through 2014 and the Department of Buildings issued its final certificate of occupancy in May 2017. In February 2019 the completed building sold for $10.2 million to the sponsor entity that repositioned it, changed the use of parts of the first and second floors, filed the condominium tax-lot subdivision in September 2019, and began closing residences in March 2020. So the structure is a 2010s new building; the condominium is a 2019 creation; and the residences are 2020-vintage sponsor sales. PLUTO's 2012 year-built reflects only the first of those dates.
That sequence is also why the tax posture is what it is. A ground-up building of this size in this district would ordinarily have been a 421-a candidate, but the benefit was never filed, the condominium came years after completion, and 485-x did not exist until 2024. The unit lots carry no exemption. Residences here have been taxed at full assessment from the first closing and will continue to be — which is unusual among 2020-vintage Manhattan condominium inventory and materially changes the carrying-cost comparison against abated buildings a few blocks away.
Architecture and unit composition
Eight floors, three of them commercial. The base holds a retail unit, a second retail unit and a community-facility space; a 2019 alteration application changed part of the ground floor from retail use to a treatment health-care facility and altered the use of the second floor, and a 2020 filing covered interior work to a non-commercial club in the same base. Buyers should understand that the ground and lower floors are institutional and commercial rather than a conventional shopfront, and should ask what the current tenancies are.
The residences run floors four through eight, no more than two to a floor: 4A and 4B, 5A, 6A and 6B, 7A, and two penthouses designated PHS and PHN. That produces a mix of full-floor and half-floor plans across one, two and three bedrooms, with the two penthouses at the top. Floor-to-ceiling glazing and the corner exposure are the design premise; the common-element program is deliberately minimal — private storage, bicycle storage, a virtual concierge, no staff.
Ownership structure and how the units trade
The eight residences sold from the sponsor to eight separate, unrelated buyers between March 2020 and June 2021, each recorded as an individual deed against its own unit lot, most with an institutional first mortgage. Several have since traded again on the open market — resales are recorded in 2021, 2022 and 2025. This is a genuine for-sale condominium, not a rental building held in a condominium wrapper.
The three commercial lots moved together in July 2025 to a single entity, which is ordinary for a small mixed-use condominium and does not affect the residential units' status. It does mean the commercial common-interest votes sit with one owner, which is worth understanding before a buyer relies on the condominium's governance to control base-floor use.
Local Law 97
This building is below the 25,000 sq ft threshold at which LL97 emissions caps apply. No regulatory capital pressure from this law specifically, current or 2030.
See full Local Law 97 analysis →Facade safety — Local Law 11
The latest available filing classified the facade as SWARMP — Safe With A Repair and Maintenance Program: the engineer identified conditions requiring monitoring or repair before the next inspection cycle. The scope, timeline, and how the building funds the work are building-specific — we review the filings and board materials for you.
How to read this, and where it comes from
QEWI = Qualified Exterior Wall Inspector — the licensed engineer the city requires to sign the report (the independent expert, not the managing agent).
Penalties shown are amounts DOB assessed against filings on record across 2020–25. The FISP dataset does not record whether they were paid, contested or remain open, so treat the figure as history rather than a current balance and confirm the building’s standing with the managing agent.
Source: NYC DOB facade filings (FISP) · The Roebling Research Library. City record last verified September 2026.
Recent sales
42 Allen Street prices as boutique Lower East Side condominium product: a small unit count, high-floor light on a corner, in-unit laundry, and no doorman or amenity floor to carry. On a dollars-per-square-foot basis it competes with the newer Orchard, Ludlow and Essex Street condominiums rather than with the neighborhood's converted tenement stock, and the argument in its favor is the full-floor and half-floor plans and the corner exposure. The argument against it is the absence of abatement — buyers comparing monthly carry against abated inventory nearby should run the numbers before they compare asking prices. 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 |
|---|---|---|---|---|---|
| Apr 28, 2025 | 3B | 2 BR · 3 BA · 1,346 sf | $1,630,000 | $1,211/sf | -3.8% |
| Apr 28, 2022 | 3Sponsor Sale | 2 BR · 3 BA · 1,252 sf | $2,100,000 | $1,677/sf | -10.6% |
| May 11, 2021 | PHSSponsor Sale | 2 BR · 2.5 BA · 1,346 sf | $1,975,000 | $1,467/sf | -5.7% |
| Apr 21, 2021 | 6BSponsor Sale | 2 BR · 2.5 BA · 1,346 sf | $1,876,634 | $1,394/sf | -1.0% |
| Apr 7, 2021 | 4BSponsor Sale | 2 BR · 3 BA · 1,346 sf | $1,725,000 | $1,282/sf | -3.9% |
| Nov 5, 2020 | 4ASponsor Sale | 2 BR · 3 BA · 1,252 sf | $1,717,500 | $1,372/sf | -13.9% |
| Jun 25, 2020 | 7ASponsor Sale | 2 BR · 2 BA · 626 sf | $965,000 | $1,542/sf | -3.0% |
| Mar 24, 2020 | 6ASponsor Sale | 1 BR · 626 sf | $945,000 | $1,510/sf | -3.1% |
Market read. Most recent trades (2025) cleared a median $1,211/sf across 1 sale. Median listing discount 3.9% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.
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 1-00308-7501) 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
Underwrite the full tax bill. There is no abatement and no burn-off. Pull the current tax bill for the specific unit lot rather than working from a listing's estimated figure.
Ask what is in the base. The first three floors are commercial and community-facility space with use changes filed in 2019 and 2020, now under single ownership. Ask the managing agent for the current tenancies and lease terms, and read the condominium's rules on commercial use.
A small condominium has concentrated risk. Eight residential units means eight owners sharing every capital cost. Ask for the reserve balance, the operating budget, and whether any assessment has been levied since the sponsor turnover.
No offering plan was on file with us at the time of writing. Ask the managing agent for the plan and any amendments, and have counsel read the common-interest schedule and the commercial units' rights before you sign.
Comparable buildings
If you're considering 42 Allen Street, also evaluate:
- 48 Allen Street — the condominium a few doors north on the same blockfront; a converted circa-1900 building rather than new construction
- 75 Allen Street — a 1900 building converted to condominium in 1987; the older, cheaper alternative on the same avenue
- 18 Orchard Street — an early-twentieth-century loft-and-store building converted to condominium; the same RM class, a different vintage
- 48 Orchard Street — 2003 new-construction condominium one block east
- 7 Essex Street — ground-up new-construction condominium; the closest new-build comparison
- 204 Forsyth Street — ground-up new construction completed 2018; a similar boutique unit count
- 147 Ludlow Street — 2016 new construction where the condominium was declared years after completion, as here
- 21 Ludlow Street — a 1901 loft converted to condominium; the loft alternative in the neighborhood
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.
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