46 Lispenard Street

The lot runs 47.25 feet along Lispenard Street with a 93.42-foot depth; the building occupies 47 by 84 feet. The Second Empire front carries the vertical pier-and-arch rhythm of the 1860s store-and-loft type — a masonry-and-iron commercial face with tall window openings on each floor and a projecting cornice — and the Tribeca East designation protects it. Because the building is mid-block with party walls on both flanks, all light comes from the Lispenard Street front and the rear elevation, which is the defining constraint of the floor plans and the reason the half-floor units read as front-and-rear rather than side-by-side.

Department of Finance records carry the eleven residences at approximately 1,920 square feet each for eight homes, plus single residences of about 3,185, 3,896 and 4,171 square feet. Those eleven figures sum to 26,612 square feet, which is exactly the residential building area PLUTO reports for the lot — the two sources reconcile cleanly. The eight identical plates are the building's core inventory: half-floor lofts with a single primary exposure, keyed elevator entry, and the ceiling heights and column spacing of the original commercial structure. The larger homes at the bottom and top of the stack are the differentiated product, and the top-floor residence benefits from the 2005 Landmarks-approved rooftop addition.

One recorded discrepancy is worth stating plainly. The Department of Finance assessment roll carries the building's year built as 1895; PLUTO carries 1868. The LPC designation report — the primary research document for this district — dates the building 1866–1868 and attributes it to Duckworth. Use the LPC date. Automated valuation and comparable-selection tools keyed to the Department of Finance year-built field will misdate the building by roughly thirty years.

46 Lispenard runs as a small self-managed-scale condominium sized to its envelope: virtual-doorman entry, keyed elevator access, and no staffed lobby, gym or amenity program. Eleven units carrying a seven-story landmarked masonry building is a thin denominator for capital work, and that is the central operating question here.

Two items belong on every diligence list. First, the façade: this is a landmarked masonry front on a Local Law 11 cycle, and repointing, cornice repair and window work must be checked against LPC permit requirements and maintenance exemptions. The permit route, bids and cost allocations determine the budget and schedule; designation alone does not establish a specific cost increase. Second, the systems: the building's residential mechanicals date to the 2003–2012 conversion era rather than to new construction, which puts boilers, elevator, roof and standpipe in the window where major replacement decisions get made. Request the current operating budget, the reserve balance, the most recent financial statements, the Local Law 11 filing status, and the minutes covering any assessment history.

Ownership form: Condominium. Purchases close through a right of first refusal rather than a cooperative board approval.

Pets: Permitted per management-sourced records. Confirm weight and breed limits in the house rules.

Pied-à-terre, subletting, LLC, trust and foreign ownership: Confirm in the current declaration, bylaws and house rules, including minimum lease terms, with the managing agent.

Financing: No minimum down payment is documented in public records for this building. Confirm at contract.

Flip tax: Not documented in public records. Confirm any resale capital contribution with the managing agent before pricing a sale.

Real estate taxes: No exemption appears on any residential unit lot in the FY2027 assessment roll. Notably, no J-51 benefit runs on this conversion. Underwrite full unabated taxes on the specific unit.

Landmarks: The lot is inside the Tribeca East Historic District. Exterior alterations, including non-visible work, and DOB-permitted interiors require LPC review, subject to specified maintenance exemptions. Staff approval or a Certificate of Appropriateness depends on the scope and LPC rules. Owners at this building have already run that process, including for a rooftop addition approved under Certificate of Appropriateness in 2005.

Recent sales

Recent closings 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.

Market read. Most recent trades (2026 to date) cleared a median $1,745/sf (floor-adjusted) across 3 sales. Floor-adjusted means each sale is restated to a constant mix of floors, so the figure can differ from the plain median of the sales listed above. Median listing discount 5.0% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.

Sales sourced from NYC Department of Finance recorded transfers (BBL 1-00194-7507; each condominium apartment is its own tax lot). 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 from recorded condo declarations and offering plans.

Eleven owners carry a landmarked masonry building. Read the reserve position, the Local Law 11 status and any assessment history before you read the floor plan. This is the single largest financial variable in a building this size.

No J-51, no abatement. Underwrite full taxes. The conversion carries no exemption of any kind on the current roll.

The envelope is near the residential FAR on a simple comparison. Residential FAR is 6.02 and recorded gross floor area stands at 6.03 times the lot. That comparison does not establish legal zoning floor area or permitted future work; confirm with a zoning analysis before pricing enlargement or development rights.

Light comes from two sides only. The building is mid-block with party walls on both flanks. Understand which exposure a specific unit has and how the plate is oriented front to back.

Budget for Landmarks process on any renovation. DOB-permitted interior work and exterior alterations require LPC review, subject to specified maintenance exemptions. Visibility alone does not determine whether staff approval or a Certificate of Appropriateness is required.

The 1895 date in the tax roll is wrong. The building dates to 1866–1868 per the LPC designation report. Any analysis keyed to the Department of Finance year-built field will misdate the building by roughly thirty years.

Lead with the block, not the amenity list. There isn't one. What there is instead is an intact Duckworth streetwall inside a historic district, and that is the durable argument.

Present the architecture in the photography. Ceiling height, window line and the proportion of a half-floor loft are the value, and they photograph well when the room is shot to read its depth.

Differentiate within the building. Eight homes are the same size. Floor, exposure, condition and outdoor space are the levers that separate one from another.

Have the capital story ready. Buyers at this price will ask about reserves, façade cycle and assessments in a small building. Answering it proactively closes faster than answering it under contract.

If you're considering 46 Lispenard Street, also evaluate these Tribeca loft buildings:

• 37 Lispenard Street — boutique full-floor loft condominium on the same street, in a comparable landmarked envelope
• 55 White Street — nearby landmark cast-iron loft condominium in the Tribeca East district
• 155 Franklin Street — 1882 Tribeca loft condominium; the closest peer by vintage
• 14 Leonard Street — the Juilliard Building; landmark loft conversion at larger scale
• 108 Leonard Street — the Clock Tower; the full-service landmark conversion alternative
• 25 North Moore Street — the Atalanta; Tribeca warehouse-conversion condominium
• 145 Hudson Street — Sky Lofts; Tribeca loft condominium with larger plates
• 161 Hudson Street — boutique Tribeca loft condominium of comparable unit count
• 100 Hudson Street — larger Tribeca loft conversion with staffed operations, for the service contrast