- Year built
- 1900
- Type
- Condominium
- Units
- 17
- Floors
- 7
- Landmark
- No
- Pets
- Pet-friendly under the condominium rules
- Subletting
- Permitted under the condominium declaration
- Pied-à-terre
- Allowed
Every recorded sale at this building, 2023–2024
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $1,540
- Listing discount
- 4.3%
- Recorded sales
- 7
- On record
- 2023–2024
48 Allen Street is one of the most distinctive small condominiums to arrive on the Lower East Side in recent years — a circa-1900 masonry building at the corner of Allen and Orchard, gut-renovated and reopened in 2023 as HOME0001, a design-led, fully furnished residence. The building's history runs deep: it began as a turn-of-the-century haberdashery warehouse, later served the neighborhood's Fuzhou community as a church, and was then reconceived by the HOME0001 collective into a turnkey condominium where apartments come furnished down to the cookware and linens. That concept — ownership of a move-in-ready, designed home in the heart of the Lower East Side — is the building's identity.
The offering plan was accepted in 2020 and declared effective in 2023, and individual apartments have genuinely closed since, with several resales recorded in the low-to-mid seven-hundred-thousands and beyond. The building runs as a hybrid in practice — the sponsor has leased unsold units alongside the closed condominium sales — but the tenure is unambiguously condominium: buyers here take deeded ownership. It sits at the dense, transit-rich heart of the Lower East Side, steps from the J/M/Z, B/D, and F, and from the neighborhood's restaurant, gallery, and nightlife corridor.
This is a small building with a strong point of view. It competes on design, the turnkey furnished concept, and the corner location rather than on amenity volume.
Architecture and unit composition
The underlying structure is a prewar steel-and-brick Lower East Side building that was taken back to its bones and rebuilt for contemporary residential use. Residences occupy floors two through seven above two ground-floor retail units, with the HOME0001 design program running throughout — the apartments are delivered fully furnished and turnkey. The mix is weighted toward compact studios in the low-four-hundreds of square feet, with some one- and two-bedroom layouts running larger, and select units carry private terraces or balconies.
At seven stories over two commercial units and 17 residential apartments, the building is boutique, served by an elevator, a doorman, and a roof terrace — a fuller service posture than a building of this size usually carries, reflecting the co-living-adjacent concept behind it.
Building operations
48 Allen Street operates as a boutique full-service condominium with a design-forward operating model: elevator, doorman, a roof terrace, a bicycle room, and resident storage, with residences delivered furnished. Common charges reflect a small building with a real service package, a design-intensive renovation, and the furnished/turnkey concept; buyers should model the full monthly carry and review reserves and any capital history during due diligence, as is prudent for a recently converted building still early in its condominium life.
Recent sales
As a condominium, 48 Allen Street prices on a price-per-square-foot basis, with design, furnishing, floor, exposure, and any private outdoor space driving unit-level value. Individual apartments have genuinely closed since the plan went effective — recorded resales have run in the mid-hundreds of thousands to the high-seven-hundreds for the larger layouts, at roughly $1,340 to $1,830 per square foot. Because the sponsor has also leased unsold units, the building shows both sales and rental activity, but it is an ownership condominium. Apartment-level context — the specific layout, the furnishing package, and condition — moves the number more than any building average.
Recent closings at this building, curated by The Roebling Team research desk. Apartment-level facts are independently verified before publishing; sale prices reflect the recorded transfer amount at the NYC Department of Finance.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Jul 22, 2024 | 3A | 431 sf | $659,000 | $1,529/sf | off-mkt |
| Jun 14, 2024 | 4A | 1 BA · 432 sf | $670,000 | $1,551/sf | +2.3% |
| Jan 18, 2024 | 3C | 1 BA · 435 sf | $631,315 | $1,451/sf | off-mkt |
| Jan 10, 2024 | 4B | 1 BA · 422 sf | $773,532 | $1,833/sf | +2.6% |
| Sep 14, 2023 | 2A | 1 BA · 435 sf | $575,910 | $1,324/sf | -11.4% |
| Sep 14, 2023 | 2B | 1 BA | $579,516 | -10.8% |
Market read. Most recent trades (2024) cleared a median $1,540/sf across 4 sales. Median listing discount 4.3% 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 |
|---|---|---|
| Aug 7, 2024 | 2A | $625,000 |
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-00308-7502) 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
The furnished, turnkey concept is the differentiator. Apartments are delivered move-in ready with furniture and finishes as part of the HOME0001 program; value that fully.
This is a recently converted building. The offering plan went effective in 2023; underwrite reserves, the sponsor's remaining inventory, and the capital picture accordingly.
Boutique full-service. Doorman, elevator, roof terrace, and bike room for 17 residences is a strong package for the size, but not a mega-amenity tower.
Condo flexibility is real. Pied-à-terre, subletting, foreign buyers, and LLC/trust ownership are permitted under the declaration; closings run on condo timelines.
Mansion tax thresholds apply. At this building's pricing, the $1M threshold can be in play for larger units. Run pricing through the Mansion Tax Calculator.
Variable board financial policy — confirm at offer stage. Financing percentages and any sublet terms specific to your situation should be confirmed in writing before you commit.
What to know if you’re selling
Lead with the design and the concept. The HOME0001 program and the furnished, turnkey delivery are the marketing story; foreground them.
Pricing requires apartment-level comps. With 17 residences, layout, furnishing, floor, and outdoor space all move the number.
Present the design. In a design-led building, photography and staging that read the interiors well support price.
Comparable buildings
If you're considering 48 Allen Street, also evaluate these nearby Lower East Side buildings:
- 196 Orchard Street — nearby Lower East Side new-construction condominium
- 100 Norfolk Street — nearby ODA-designed Lower East Side condominium
- 215 Chrystie Street — Herzog & de Meuron downtown architectural condominium
- 173 East Broadway — nearby Lower East Side boutique condominium
- 75 Allen Street — nearby Allen Street building
The Roebling Team at 48 Allen Street (HOME0001)
The Roebling Team at Compass works the full Lower East Side and downtown market, including its design-led boutique condominiums. We publish this profile because buyers and sellers of concept-driven buildings deserve building-level intelligence — the design program, operational reality, and apartment-level pricing context — rather than generic market commentary.
If you're considering a purchase or sale at 48 Allen Street, a 30-minute consultation is the right starting point. We'll bring the full context this page provides plus the transactional specifics your situation requires.
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