- Year built
- 1900
- Type
- Cooperative
- Units
- 13
- Floors
- 6
- Landmark
- No
- Amenities
- Landscaped common roof deck, video intercom, deeded storage in the basement. No doorman
- Pets
- Permitted per management-sourced records
- Financing
- Up to 80 percent permitted (20 percent minimum down) per listing records
Every recorded sale at this building, 2003–2023
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $1,614
- Listing discount
- 4.4%
- Recorded sales
- 19
- On record
- 2003–2023
Six stories, thirteen apartments, 25,000 square feet, no commercial space, no doorman. The arithmetic gives an average residential footprint approaching 1,900 square feet — and because several floors hold only two apartments, the actual full- and half-floor lofts run considerably larger. This is a small, private, owner-run building in a stretch of Hudson Square that has been almost entirely reconstituted around it.
The recorded history is worth reading carefully, because it explains the building's culture. The property passed from an export corporation to a holding company in 1980. In December 1991 the City of New York took title through the Commissioner of Finance — an in-rem tax foreclosure — and released it back in April 1992. Six years later, on June 30, 1998, 474 Greenwich Corp. took title and the building became a cooperative, financing the acquisition with a $1,000,000 mortgage from a community development bank the following month. The sequence — distressed industrial building, in-rem taking, release, and then a shareholders' corporation buying it outright — is the signature of a tenant-organized conversion rather than a sponsor conversion. There is no sponsor here, no unsold-shares position, and no holder of unsold shares to complicate a resale.
Between those two eras the building was a loft house for artists and musicians, and press accounts of downtown Manhattan in the 1970s and 1980s reference it by that reputation. That history is part of why the building presents as it does — exposed brick, heavy timber, and unit configurations that were made by residents over decades rather than laid out by a developer.
The third fact a buyer should hold onto is scarcity of the specific type. Block 595 now carries five separate condominium developments and a 107-unit rental building wrapped in a condominium. 474 Greenwich is one of the last conventional tax lots on the block that is a small residential cooperative. Its immediate neighbors at 472 Greenwich (seven units) and 466 Washington Street (fifteen units) are the only comparable structures within a block.
Architecture and unit composition
The building is a six-story masonry loft of about 1900, roughly 56 feet wide and 80 feet deep, with a courtyard at the rear that the cooperative renovated as part of an exterior program in 2019 and 2020. The facade, parapets and courtyard were the scope of that job; a separate 2014 filing covered power-washing, repointing, masonry replacement, a new window opening and fire-escape repair, under a sidewalk shed installed in 2015. The bluestone sidewalk was replaced in 2011.
Apartments carry loft designations by orientation rather than by letter — 2N, 3N, 4N, 4S, 5N, 5S, 6N, 6W — and several have been combined; a 2016 filing records the interior renovation of a combined 6N and 6W. Interiors are what a converted 1900 warehouse produces: exposed brick, wood beams, high ceilings, deep floor plates with light at the front and rear. Because the units were finished individually over a twenty-five-year period rather than delivered by a sponsor, condition varies enormously from apartment to apartment, and there is no house standard to price against.
There is no commercial space. Every square foot of the building's roughly 25,150 is residential, which means the cooperative has no retail rent to offset maintenance and no commercial tenant risk. Both halves of that trade are real.
Building operations
Self-service and small. One keyed elevator opening into the apartments, a video intercom, deeded basement storage, and a landscaped common roof deck. No doorman, no resident manager, no amenity program. Thirteen shareholders carry the full operating cost, and maintenance in a building like this is dominated by fuel, water, insurance and the underlying mortgage rather than by payroll.
The underlying debt tells the capital story. The cooperative borrowed $1,000,000 in 1998 to buy the building and $300,000 more in 1999. In 2012 that position was consolidated at $1,200,000 with new money of about $218,000. In August 2019 the cooperative refinanced into a $2,100,000 consolidated first mortgage with a $250,000 credit line from a cooperative lender — and the timing lines up precisely with the 2019–2020 facade, parapet and courtyard program. That is a building that funded a major exterior project by refinancing rather than by assessing. At roughly $162,000 per apartment the resulting leverage is higher than the small-cooperative average, and a buyer should read the current financial statements to see the debt service, the maturity date and the reserve position for themselves.
Policy framework
Ownership form: Cooperative. A purchase is a share transfer with an assignment of the proprietary lease, and it requires a full board package and an interview. Every apartment closing recorded against this lot in ACRIS is a share transfer, which is what confirms genuine individual ownership in a co-op.
Financing: Up to 80 percent permitted, 20 percent minimum down, per listing records. That is permissive by downtown loft-cooperative standards.
Flip tax: 2 percent, paid by the purchaser, per listing records. A purchaser-paid flip tax is comparatively uncommon and it changes the offer arithmetic — on a $3 million apartment it is a $60,000 line on the buyer's side that does not appear in the asking price. Confirm the current rate and payer in writing.
Subletting, co-purchase, guarantors, parents purchasing for children: All considered subject to board approval per listing records. A board that entertains all four is a flexible board by Manhattan standards, but "considered" is not "permitted." Get the written rule.
Pied-à-terre and trust or LLC ownership: Not documented in the records available to us. In a thirteen-shareholder cooperative these are board-discretion questions; obtain the answer before structuring an offer around either.
Pets: Permitted per management-sourced records.
Taxes: No abatement or exemption, and none has ever applied to this lot. Underwrite the full unabated tax component of maintenance.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $0 (under cap)
- Per unit / month range
- —
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
474 Greenwich trades as a small-building Tribeca and Hudson Square loft cooperative: priced on volume, ceiling height, exposure and condition, with a cooperative discount to the condominium inventory that now surrounds it on the same block. The building's recorded share transfers span a wide band, which is a function of unit size and renovation state rather than of market timing.
Indexed to the last complete year, downtown loft cooperatives of this scale price below comparable Tribeca condominium product on a per-square-foot basis, and the gap widens where the condominium alternative carries staff and amenity. Against that, the absence of retail income and the level of underlying debt here mean maintenance is not the lowest in the neighborhood, and buyers comparing monthly carry should model it directly rather than assume the cooperative discount runs through to the monthly. Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
Recent transfers 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 |
|---|---|---|---|---|---|
| Sep 6, 2023 | 5S | 3 BR · 2.5 BA · 2,626 sf | $4,300,000 | $1,637/sf | -1.1% |
| Jul 17, 2023 | 3N | 3 BR · 2 BA · 1,400 sf | $2,175,000 | $1,554/sf | -5.4% |
| Mar 19, 2020 | 5S | 3 BR · 1 BA · 2,500 sf | $2,900,000 | $1,160/sf | -3.2% |
| Feb 13, 2020 | 4N | 3 BR · 2 BA · 1,500 sf | $1,652,000 | $1,101/sf | -15.3% |
| Dec 12, 2018 | 3N | 2 BR · 2 BA · 1,400 sf | $2,000,000 | $1,429/sf | -8.9% |
| Dec 22, 2016 | PHN | 2 BR | $2,150,000 | +0.0% | |
| Dec 22, 2016 | 1N | 3 BR · 1 BA · 2,462 sf | $2,275,000 | $924/sf | -9.0% |
| Jan 23, 2015 | 4S | 3 BR · 2,358 sf | $2,950,000 | $1,251/sf | -37.9% |
Market read. Most recent trades (2023) cleared a median $1,614/sf across 2 sales. Median listing discount 4.4% 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.
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 1-00595-0041) 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 on co-ops is not officially recorded, figures shown are approximate.
What to know if you’re buying
The board package is the transaction. Thirteen shareholders means everyone reads it. Expect a full financial disclosure, two years of tax returns, reference letters, and an interview with a meaningful share of the building's ownership in the room. Run the Co-op Board Qualification Calculator before you offer, and prepare post-closing liquidity to a downtown-cooperative standard even though the financing ceiling is generous — the two are underwritten separately, and small boards are typically stricter on liquidity than on loan-to-value.
Price the purchaser-paid flip tax into your offer. Two percent on the buyer's side is real money and it is frequently missed until the contract stage.
Read the underlying mortgage. $2.1 million across thirteen apartments is above average for a building this size. Ask for the maturity date, the rate and the amortization, and ask the managing agent what the board's plan is at maturity. A refinancing in a higher-rate environment shows up in everyone's maintenance.
Understand the exterior work that is done and the work that is not. Facade, parapets and courtyard were addressed in 2019–2020; the roof was explicitly excluded from that scope. Ask about the roof, the elevator and the building's Local Law 11 cycle status.
There is no retail income and no staff. Maintenance is carried by thirteen households alone. That is a clean structure with no commercial tenant risk, and it is also a small denominator for any surprise.
What to know if you’re selling
Lead with the format and the block. A private half- or full-floor loft in a thirteen-unit building on a Hudson Square block otherwise given over to condominium development is a genuinely narrow product. Say what it is rather than competing on finish.
Document the 2019–2020 exterior program. Completed facade work is one of the few capital facts that survives a buyer's attorney intact. Have the scope and the sign-offs ready.
Set expectations about the board. Buyers coming from condominium inventory need to understand the package and the interview before they bid, not after. Sellers who explain the process early lose fewer deals at the approval stage.
Condition is the whole variable. Apartments here were built out individually across twenty-five years. Run the Renovation Cost Calculator against your apartment's actual state before setting an ask, because the buyer will.
Comparable buildings
If you're considering 474 Greenwich Street, also evaluate:
- 466 Washington Street — fifteen-unit prewar cooperative on the same tax block; the closest structural peer
- 482 Greenwich Street — condominium on the same block; the new-construction alternative next door
- 471 Washington Street — nine-residence condominium on the same block
- 481 Washington Street — thirteen-residence loft condominium on the same block; identical unit count, condominium structure
- 465 Washington Street — boutique condominium on the same block
- 459 Washington Street — the John Watts Condominium; prewar conversion on the same block
- 475 Greenwich Street — Greenwich Street loft building immediately north
- 479 Greenwich Street — small Greenwich Street building; comparable scale
- 450 Washington Street — larger Hudson Square building; the full-service alternative
- 330 Spring Street — condominium on the same block at the Spring Street corner
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Tribeca — read The Roebling Team Guide to Tribeca.
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.
Considering a move at 474 Greenwich Street?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 474 Greenwich Street 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.