48 Orchard Street
48 Orchard Street, New York, NY 10002
Lower East Side
BBL 1003097501 · BIN 1003999
- Year built
- 2003
- Type
- Condominium
- Units
- 26
- Floors
- 10
- Landmark
- No
- Pets
- Permitted under the condominium rules
- Subletting
- Permitted under the condominium declaration
Every recorded sale at this building, 2005–2005
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $804
- Recorded sales
- 6
- On record
- 2005–2005
48 Orchard Street is one of the earlier purpose-built condominiums on the Lower East Side, completed in 2003 on the stretch of Orchard Street between Hester and Grand — the spine of the old garment-and-pushcart district that has since become one of downtown Manhattan's most dynamic neighborhoods. The building (recorded as the 48–50 Orchard Street Condominium) is a boutique 26-unit, 10-story elevator condominium, and it predates the wave of LES new development that followed it by a decade. That early vintage is part of the story: it established condominium ownership on a block where almost everything else was a tenement, and it has a transaction record long enough to read clearly.
The building's draw is the Orchard Street location itself — gallery-, restaurant-, and boutique-dense, with the Lower East Side's full cultural calendar at the doorstep, and the F at East Broadway and the B/D at Grand Street within a short walk. For buyers, 48 Orchard offers something the newer LES towers do not always: larger, loft-scaled apartments at a quieter unit count, in a building that has had two decades to settle into a stable operating rhythm.
In the database, 48 Orchard is the seasoned boutique LES condominium — an early-2000s building with a proven resale market, mid-market pricing, and a location at the center of the neighborhood's commercial energy.
Architecture and unit composition
The 26 residences sit across 10 floors above a ground-floor commercial unit. The apartment mix runs from one-bedrooms up to larger two- and three-bedroom homes, several of them loft-scaled — the building's recorded sales include multiple closings well above the $1.9M mark, consistent with substantial three-bedroom and combination layouts. Ceiling heights and window sizing are generous for the neighborhood, and the 10-story height lifts upper-floor units above the surrounding low-rise roofline for open light.
The contemporary masonry-and-glass facade is straightforward; the value is inside, in the apartment scale and the Orchard Street address. As an early-2000s building, the construction and systems are mature, which is a diligence advantage — the building's capital and maintenance history is established rather than speculative.
Building operations
48 Orchard operates as a boutique condominium with an elevator, video intercom security, and common laundry, over ground-floor retail. There is no full-time doorman, which keeps common charges in check — appropriate to a 26-unit building. The commercial unit at grade contributes to the building's economics and affects the residential common-charge base.
With two decades of operating history, the building's reserve position and capital-improvement record are the key diligence items: buyers should review the financial statements, reserves, the facade and elevator maintenance history, and any assessment activity. As a pure condominium, the purchase is fast and flexible — no board approval, financing and pied-à-terre use permitted, and standard closing timelines.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $17,443/yr
- Per unit / month range
- $0 – $56
Facade safety — Local Law 11
The latest available FISP filing classified the facade as Safe — no repairs were required at that inspection. Facade inspections run on a fixed five-year cycle; future inspection, repair, and any assessment decisions remain building-specific.
QEWI = Qualified Exterior Wall Inspector — the licensed engineer the city requires to sign the report (the independent expert, not the managing agent). Source: NYC DOB facade filings (FISP) · The Roebling Research Library.
See the full facade history →Recent sales
48 Orchard Street prices on a $/sf basis, the correct metric for condominiums (best read on a price-per-square-foot basis given the building's loft-scaled, heterogeneous layouts). The recorded transaction history is unusually deep for a boutique LES building: closings span from the mid-$500Ks for smaller early sales up to the $2.3M–$2.46M range for the largest loft and three-bedroom homes, with a steady band of $1.1M–$1.975M for standard two- and three-bedroom apartments across the 2014–2017 window and consistent activity since. That range reflects the building's wide layout spread — small one-bedrooms and large lofts trade at very different price points within the same address.
For pricing, the implication is that 48 Orchard is an apartment-level market: square footage, floor, light, and renovation level drive value, and the comparable set is rich enough to triangulate carefully. The largest, best-exposed loft homes anchor the top of the range; efficient one-bedrooms anchor the entry tier.
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 |
|---|---|---|---|---|
| May 24, 2005 | 4BSponsor Sale | 1,205 sf | $957,155 | $794/sf |
| May 6, 2005 | 3BSponsor Sale | 1,205 sf | $896,060 | $744/sf |
| May 3, 2005 | 3ASponsor Sale | 863 sf | $702,592 | $814/sf |
| May 2, 2005 | 4ASponsor Sale | 863 sf | $712,775 | $826/sf |
| Apr 28, 2005 | 6ASponsor Sale | 1,467 sf | $1,272,812 | $868/sf |
| Apr 27, 2005 | 2ASponsor Sale | 863 sf | $560,037 | $649/sf |
Market read. Most recent trades (2005) cleared a median $804/sf across 6 sales.
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-00309-7501) 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
Condo flexibility is the headline. No board approval, financing and pied-à-terre use permitted, subletting allowed under the declaration, and standard condo closing timelines.
Diligence a 20-year-old boutique building. Review reserves, the facade and elevator history, the commercial-unit arrangement, and any assessments. The operating record is mature — read it.
Buy the apartment, not the average. Layouts here range from compact one-bedrooms to large lofts; pricing varies widely. Match the comp to the specific unit's size, floor, and condition.
Know the location. Orchard between Hester and Grand is at the commercial heart of the LES — energetic and dense, with the F and B/D close by.
What to know if you’re selling
Lead with scale and the Orchard Street address. Loft-scaled apartments at a boutique unit count, at the center of the neighborhood's commercial energy, is the marketing story.
Price to the apartment's tier. With a wide layout spread, anchor to the right comparable band — entry one-bedroom, standard two/three-bedroom, or top-tier loft.
Use the deep transaction record. Few boutique LES buildings have a comparable history this long; it supports confident pricing.
Comparable buildings
If you're considering 48 Orchard Street, also evaluate:
- 196 Orchard — full-service Orchard Street condominium with in-building Equinox
- 215 Chrystie Street — Herzog & de Meuron LES condominium
- 183 Chrystie Street — nearby LES condominium
- 50 Clinton Street — boutique LES ownership building
- 38 Delancey Street — LES condominium peer
- 31 Monroe Street — value-tier LES / Two Bridges condominium
Considering a move at 48 Orchard 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 48 Orchard 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.