Park South Tower
425 Park Avenue South, New York, NY 10016
BBL 1008850001 · BIN 1018238
- Year built
- 1927
- Type
- Cooperative
- Landmark status
- Not an individual landmark; not in a historic district
- NYC Landmarks Preservation Commission and City Planning records, updated February 2026
- Subletting by shareholders
- Permitted with conditions
- Doorman
- Requires confirmation
Every recorded sale at this building, 2003–2026
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf, 2025
- $913
- floor-adjusted, 1 sale
- Listing discount
- 2.4%
- Recorded sales
- 111
- On record
- 2003–2026
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at Park South Tower 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.
Park South Tower at 425 Park Avenue South is a 1927 Art Deco building reborn as a cooperative in 1980 — and it offers something increasingly hard to find in NoMad: genuine loft-like proportions at a cooperative price point. Built originally as a commercial tower, the building carries the bones of its era — a brown-brick Art Deco mass with the setbacks characteristic of the late 1920s — and its conversion preserved the soaring scale that purpose-built apartment houses rarely match.
The homes are the draw. Many feature 11-foot beamed ceilings and oversized windows, the loft-like volume and light that come from a building designed for commercial use and adapted for living. That combination — pre-war Art Deco character, loft scale, and a central NoMad address with access to Madison Square Park and Gramercy Park — gives Park South Tower a distinct identity in a neighborhood that has become one of downtown's most dynamic.
For buyers, the appeal is value and character: spacious, light-filled cooperative homes with real architectural presence, in the middle of NoMad's restaurant-and-retail renaissance, at prices below the new-construction condominiums that now surround it.
Architecture and unit composition
The exterior is classic late-1920s commercial Art Deco — a brown-brick tower stepping back as it rises, sturdy and unfussy. The conversion's gift was scale: ceilings around 11 feet, exposed beams, and oversized windows that flood the homes with light, qualities that read as authentic loft volume rather than retrofitted apartment proportions.
The 74 residences run primarily from one- to two-bedroom layouts, many extensively renovated over the decades while retaining their pre-war and loft character. The depth and height of the floor plates allow for flexible, open layouts, and the upper floors capture the building's best light and city outlook. It is a building where the apartments themselves — their volume and light — are the principal selling point.
Building operations
Park South Tower operates as a cooperative with a part-time doorman covering early morning through late evening, plus a live-in superintendent who anchors the building's day-to-day care. Practical amenities are built into the design: laundry facilities on every floor, shared storage on each floor, and a landscaped roof deck with panoramic Manhattan views.
As a cooperative, purchases are subject to board approval, and buyers should plan for a board package and interview; financing, subletting, and pied-à-terre policies follow the building's house rules. The staffing model — part-time door coverage rather than 24-hour — is reflected in a comparatively efficient maintenance, which is part of the building's value proposition. The NoMad location is a genuine asset: the building sits steps from the neighborhood's restaurants, hotels, and shops, with Madison Square Park and Gramercy Park both close and broad subway access nearby.
Application and transaction fees
Fees below are from building management's published schedule, as of September 2026. They are shown as published, item by item; no total is added because the total depends on the transaction. Deposits are listed apart from nonrefundable charges.
Purchase
11 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Additional Unit SaleConditionalSame parties, same documents, same closing | Paid by Buyer | When With the application | Amount 500 (if applicable) | Refundable Not stated |
| Application Fee | Paid by Buyer | When With the application | Amount $500 | Refundable Non-refundable |
| Credit ReportPer applicant | Paid by Buyer | When With the application | Amount $200 per applicant | Refundable Not stated |
| Estate Unit SaleConditional | Paid by Buyer | When With the application | Amount 1150 (if applicable) | Refundable Not stated |
| Individual Unit Sale | Paid by Buyer | When With the application | Amount $750 | Refundable Not stated |
| Lease Upon SaleConditional | Paid by Buyer | When With the application | Amount 325 (if applicable) | Refundable Not stated |
| Package Reproduction Fee | Paid by Buyer | When With the application | Amount $195 | Refundable Not stated |
| Replacement of Lost Stock Certificate | Paid by Buyer | When With the application | Amount $325 | Refundable Not stated |
| Additional Closing FeeTwo hours or more | Paid by Buyer | When At closing | Amount $300 | Refundable Not stated |
| Adjournment of ClosingConditionalConditions: At closing or less than 48 hours prior notice | Paid by Buyer | When At closing | Amount $500 | Refundable Not stated |
| Flip TaxPer share | Paid by Shareholder | When At closing | Amount $6 per share | Refundable Not stated |
Sublet
6 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Building Sublet FeePer share | Paid by Shareholder | When With the application | Amount $2.50 per share for 1st year; $5.00 per share for 2nd year; $7.50 per share for 3rd year; $10.00 per share for 4th year; $12.50 per share for 5th year | Refundable Not stated |
| Processing Lease | Paid by Shareholder | When With the application | Amount $400 | Refundable Not stated |
| Corporation Sublet FeeConditionalConditions: If application is not approved | Paid by Subtenant | When With the application | Amount $1,000 | Refundable Conditional; see terms |
| Credit Report FeePer applicant | Paid by Subtenant | When With the application | Amount 200 per applicant | Refundable Non-refundable |
| Processing Lease RenewalSame tenant | Paid by Subtenant | When Upon approval | Amount $225 | Refundable Not stated |
Deposits
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Move-In Deposit | Paid by Subtenant | When With the application | Amount $1,000 | Refundable Refundable |
Refinance
2 items
Management's “less refinance” schedule
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Refinancing including Recognition Agreement | Paid by Shareholder | When With the application | Amount $450 | Refundable Not stated |
Management's “more refinance” schedule
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Refinancing including Recognition Agreement | Paid by Shareholder | When With the application | Amount $450 | Refundable Not stated |
Management updates its schedule without a public filing. The date is when management last updated the page, not when a rule changed. Confirm the current schedule with management before you apply.
Considering an apartment here? Send Corey the listing to discuss the building's costs and purchase requirements.
Own an apartment here? Request an apartment-specific pricing review.
Financing and purchase requirements
- Co-purchasing
- Permitted with conditionsParent's cannot buy for children, but they can co-purchase.Source: building management's published schedule, as of September 2026
- Parent buying for an employed child
- Not permittedSource: building management's published schedule, as of September 2026
- Parent buying for a student child
- Not permittedSource: building management's published schedule, as of September 2026
Sublet and pied-à-terre policy
A condominium owner leasing a unit and a co-op shareholder subletting are different rules, and a building-wide rule is different from a restriction on one apartment. This is the building's rule; confirm it for the specific apartment.
- Subletting by shareholders
- Permitted with conditionsShareholder must submit request to sublet after two years in apartment as primary residence.Source: building management's published schedule, as of September 2026
- Short-term rentals
- Not permittedSource: building management's published schedule, as of September 2026
- Pied-à-terre ownership
- Not verified
Considering an apartment here? Send Corey the listing to discuss the sublet and pied-à-terre rules for that apartment.
Monthly carrying charges in recent sales
- Maintenance, per room
- $824 per room a monthMedian of 6 recorded sales since October 2023Source: recorded sales, refreshed October 2026
- Maintenance, per square foot
- $2.50 per square foot a monthMedian of 3 recorded sales since October 2023Source: recorded sales, refreshed October 2026
Maintenance as recorded with each sale. A co-op's maintenance already covers the building's real estate taxes and the building's own mortgage, if it has one; add your own loan payment for the monthly outlay. A summary of recorded sales, not a current bill; charges change.
Building staffing and amenities
- Doorman
- Requires confirmationSources differ. Confirm with building management.
- Live-in superintendent
- YesSource: The Roebling Team's building profile
- Elevator
- YesSource: NYC Department of City Planning records (PLUTO)
- Amenities noted
- Roof deck, laundry roomSource: The Roebling Team's building profile
Staffing and amenities as our building profile and recent listing records describe them. A feature not listed is not confirmed absent. Outdoor space, parking and some facilities can belong to particular apartments or to a separate owner; confirm access for the specific apartment.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $37,926/yr
- Per unit / month range
- $0 – $43
- Modeled exposure split equally across 74 units (the residential count on the city's lot record). Not an assessed amount; co-op shareholders are typically charged by share allocation.
Source: NYC LL84 benchmarking and PLUTO · The Roebling Research Library. City data last refreshed October 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →Facade safety — Local Law 11
The latest available filing classified the facade as SWARMP — Safe With A Repair and Maintenance Program: the inspector (QEWI) identified conditions requiring monitoring or repair, with repairs due by the deadline stated in the filing. 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 — a licensed professional engineer or registered architect who meets DOB’s FISP qualifications and signs the report (the independent expert, not the managing agent).
Penalties shown are amounts DOB assessed against filings on record across 2005–10 to 2025–30. 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 data last refreshed October 2026.
Management & transfer contacts
- Flip tax
- $6 per share (shareholder)
- Sublet policy
- Allowed after 2 years primary residence. Short-term rentals not allowed. Building sublet fee escalates $2.50/share (yr1) to $12.50/share (yr5)
- Pied-à-terre
- Secondary residence allowed, case-by-case. Co-purchasing allowed but parents cannot buy for children
- Policies and fees
- Co-op. App $500 + individual unit sale $750; credit $200/applicant; lost stock cert $325; sublet corp fee $1,000; refinance $450
Recent sales
Recent transfers 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.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| May 14, 2026 | 20B | 1 BR · 1 BA | $975,000 | -2.4% | |
| Sep 16, 2025 | 2C | 1 BR · 1.5 BA · 1,000 sf | $850,000 | $850/sf | -5.6% |
| Feb 19, 2025 | 7B | 1 BR · 1 BA | $800,000 | -11.0% | |
| Sep 10, 2024 | 15A | 1 BR · 1 BA · 800 sf | $900,000 | $1,125/sf | -3.2% |
| Jun 25, 2024 | 20D | 1 BR · 1 BA | $1,195,000 | +0.0% | |
| May 7, 2024 | 14B | 1 BR · 2 BA · 1,060 sf | $999,999 | $943/sf | -23.1% |
| May 3, 2023 | 11B | 1 BR | $1,323,000 | -5.5% | |
| Aug 25, 2022 | 5B | 3 BR · 2.5 BA · 1,800 sf | $2,600,000 | $1,444/sf | +4.0% |
Market read. $/sf is measured on the latest sales with reliable square footage (2025): a median $913/sf (floor-adjusted) across 1 sale. The building has traded as recently as 2026. Median listing discount 2.4% 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.
Other recent transfers
| Date | Unit | Price |
|---|---|---|
| Apr 6, 2017 | 20C | $998,000 |
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 1-00885-0001). 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 on co-ops is not officially recorded, figures shown are approximate.
Closed rents at Park South Tower, last 36 months
| Size | Leases | Median / month |
|---|---|---|
| 1 bedroom | 2 | $5,600 |
Also $72 per sq ft per year (3 leases that report square footage). 3 closed sublet leases, October 2023 to September 2026. Most recent lease January 2026. Based on few leases. Sizes with fewer than 2 leases are not shown. Compiled by The Roebling Team at Compass from closed leases.
What would your apartment rent for?
The figures above are the building's closed leases. Enter your apartment and I'll send you what yours would rent for, from comparable leases at Park South Tower and nearby.
At the recent median sale of $850K (3 transfers in the past 24 months, since October 31, 2024), a buyer putting 25% down would pay about $11,738 to close, or 1.4% of the price.
- Mansion tax: $0
- No mortgage recording tax or title insurance on a co-op purchase
- Attorneys, lender, building fees and filings: $11,738
Assumes a resale (the seller pays transfer taxes), a $4,500 attorney fee and a mortgage on the rest.
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What to know if you’re buying
This is a cooperative, so plan for a board package and interview, and confirm the building's rules on financing, subletting, and pieds-à-terre as part of your offer. The building's loft-like scale is its signature — prioritize homes that fully express the 11-foot ceilings, beams, and oversized windows, since that volume is what distinguishes Park South Tower from conventional pre-war stock. Weigh the part-time door staffing against the more efficient maintenance it allows; for many buyers, that trade is a value advantage. Review the building's financials and reserve position, and lean into the NoMad location, which has only strengthened as the neighborhood has matured.
What to know if you’re selling
Lead with the homes' loft character — 11-foot beamed ceilings, oversized windows, and light — paired with the building's Art Deco provenance and its prime NoMad address. That combination of scale, character, and location at a cooperative price is the building's strongest selling argument against the surrounding new-construction condominiums. Benchmark to comparable NoMad and Park Avenue South cooperatives, stage to the home's volume and light, and present any renovation clearly. A clean, well-documented board package will smooth the cooperative approval process and support the price.
Comparable buildings
If you're considering Park South Tower, also evaluate these NoMad, Park Avenue South, and nearby Gramercy / Flatiron peers:
- 240 Park Avenue South — Park Avenue South building nearby
- 260 Park Avenue South — full-service Park Avenue South building
- 402 Park Avenue South — Park Avenue South building to the south
- 1107 Broadway — NoMad condominium nearby
- 15 West 20th Street — Flatiron building on West 20th Street
The full playbook — what goes in the package, how boards read your financials, the interview, and the timeline — plus sample cover, reference, and personal letters you can adapt.
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. Where this page compares one building or neighborhood to another, that is our analysis of the recorded record — it names the measure, the period and the sample it rests on, and it is an observation about medians rather than a prediction about any particular apartment.
Considering a move at Park South Tower?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.
646.939.7375 · c.cohen@compass.com