482 Greenwich Street (The Arman)
482 Greenwich Street, New York, NY 10013
BBL 1005957506 · BIN 1088908
- Year built
- 2011
- Type
- Condominium
- Units
- 7
- Floors
- 9
- Landmark
- No
Every recorded sale at this building, 2012–2024
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $2,211
- Listing discount
- 0.1%
- Recorded sales
- 13
- On record
- 2012–2024
Hudson Square in 2009 was still mostly a printing-and-warehouse district with a handful of converted lofts, and the corner of Greenwich and Canal was an open site occupied by the outdoor sculpture studio of the artist Arman. When Magnum Real Estate Group assembled the deal, it did so as a joint venture with the artist's estate rather than as a straight purchase — a structure visible in the sponsor's own name in ACRIS, Arman/482 Greenwich Venture LLC, and in the offering plan's provision that three residential units and two parking spaces would be conveyed back to the estate at sellout. The building carries the artist's name and one of his sculptures on its façade.
That origin explains the building's shape as much as its name. It is small — seven residences over nine floors, with a retail unit and a community facility unit at the base — and it was designed to fill a corner rather than to maximize a tower. Karl Fischer Architect carried the filings and certified the condominium floor plans. GRADE designed the residence interiors: rift-cut quarter-sawn white oak floors, close to eleven-foot ceilings, zoned central air.
Two documented facts distinguish it from the neighboring conversions on the same block. The first is that it is new construction in a block of nineteenth-century warehouses, several of which are individual landmarks. Systems, envelope and layout are all modern; there is no loft-conversion compromise anywhere in the building. The second is that the unit count on record is seven, not the eight that circulates in market data. The Fifth Amendment on file states plainly that Unit 7 and the Penthouse were combined at a purchaser's request before the declaration was recorded. Seven is the number in ACRIS, in PLUTO and on the tax roll.
The real underwriting story at 482 Greenwich, though, is the tax line, and it runs in two parts. The building carried a ten-year 421-a benefit that began in 2014 and has now fully expired — every residential and commercial unit lot shows zero exemption on the current roll. Separately, because the building has fewer than eleven residential units, its lots sit in tax class 2C, where annual assessment increases are capped. The effect is that the billable assessed value on a representative unit currently sits far below the actual assessed value, and the gap closes over time. A buyer looking at today's tax bill is looking at a number that is still climbing on its own schedule. That is the single most important thing to model here, and it is invisible unless you pull the actual roll rather than the listing figure.
Architecture and unit composition
The building holds a true corner, which for a seven-unit building is the whole design brief: light and air on two exposures, and Hudson River sightlines to the west from the upper floors and the roof. The base is given over to a retail unit and a community facility unit, both non-residential condominium units that were held back from the original offering and later sold; the residential entrance is on Greenwich Street under a stone canopy.
Residences are full-floor and duplex, with a duplex penthouse at the top. Interior specification came from GRADE: rift-cut, quarter-sawn white oak floors, ceilings near eleven feet, zoned central air conditioning, in-unit laundry. The second floor carries the building's amenity program — a fitness room and a bicycle room — which is a compact allocation appropriate to seven households.
Two structural features of the plan repay attention. Three of the original units — designated 2A, 2B and 3 in the offering plan and referred to there as the "estate units" — were conveyed to the artist's estate along with two parking spaces, and have since traded on the open market. And the roof is not uniformly common: the declaration on file makes a roof terrace a limited common element appurtenant to the penthouse, with a ten-foot mechanical-equipment setback protecting it. Any buyer relying on roof access should confirm exactly which portion of the roof they are buying rights to.
Building operations
Seven residences is a very small denominator, and the building's economics reflect it. The first-year budget on file ran on the order of $220,000 in total common charges, with residential owners carrying roughly 93.9 percent of common interest and the two non-residential units the remaining 6.1 percent. Staffing was budgeted at a part-time, non-live-in superintendent and porter plus a full-time concierge; a reserve line was added at the board's election before the first closing, and a working capital account was funded at a modest level.
For a buyer, that structure has two practical consequences. First, a single capital event — a roof, an elevator modernization, a façade cycle — is spread across seven households rather than seventy, so assessments in a building of this size are larger per unit and more common. Ask directly for the current reserve balance, any live or recently concluded assessment, and the capital plan. Second, the commercial units matter more than they would in a large building: 6.1 percent of common interest is meaningful at this scale, and the allocation formula in the declaration splits certain expenses by usage rather than by common interest. Understand who pays for what before contract.
The building is now well past its warranty period and into its second decade. Local Law 11 status, the roof and the elevator are the items to pull.
Policy framework
Ownership form: Condominium. Purchases close through a board right of first refusal rather than a cooperative approval.
Pied-à-terre, subletting, LLC, trust and foreign ownership: All permitted under the standard condominium framework. Minimum sublet lease terms should be confirmed with the managing agent.
Pets: Not documented in the records reviewed here. Confirm weight and breed limits in the house rules.
Flip tax: Not documented in public records.
Real estate taxes: The 421-a benefit is fully expired. Underwrite full unabated taxes, and model the tax class 2C billable-to-actual convergence explicitly rather than assuming today's bill holds. Run the True Monthly Carrying Cost analysis against the current bill and against a forward assessment path.
Local Law 97
This building is below the 25,000 sq ft threshold at which LL97 emissions caps apply. No regulatory capital pressure from this law specifically, current or 2030.
See full Local Law 97 analysis →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.
How to read this, and where it comes from
QEWI = Qualified Exterior Wall Inspector — the licensed engineer the city requires to sign the report (the independent expert, not the managing agent).
Penalties shown are amounts DOB assessed against filings on record across 2015–20 to 2020–25. 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 record last verified September 2026.
421-a Tax Abatement
- Benefit ended
- 2024
- Fully taxed since
- 2024
- Program
- 421-a (10-year)
The 421-a benefit has run its term. Taxes on these units have stepped up toward the full assessed amount, so the low carrying cost this building once carried is no longer available. Price from the current tax bill, and treat any comparable sale made while the abatement was still running as a different asset.
Source: NYC Dept. of Finance property-tax exemption records (421-a), refreshed 2026-09-06 · The Roebling Research Library. Confirm the exact step-up schedule on the building’s DOF tax bill. The benefit last appears on the 2023 assessment roll, which is what dates the end of the term.
Recent sales
The sponsor sellout ran from November 2012 into March 2013 — fast for a Hudson Square building delivering into that market. Each residence was conveyed to a separate purchaser; the three estate units went to the artist's estate under the terms disclosed in the offering plan and have since traded on the open market to unrelated buyers. No bulk transaction appears anywhere in the chain, the unit lots carry ordinary residential building classes, and resale activity has continued steadily through 2024. This is a genuine for-sale condominium, not a rental in a condominium wrapper.
The building prices in the upper band for Hudson Square condominium product on a dollars-per-square-foot basis, with the penthouse trading on a different basis from the full-floor homes. Its natural comparable set is the small group of boutique condominiums on and around block 595 — a cluster of separate, unrelated condominiums on the same block that are frequently conflated in market data. Buyers should be precise about which building they are comparing to. Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
Recent closings 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 |
|---|---|---|---|---|---|
| Jul 12, 2024 | 4 | 3 BR · 3.5 BA · 2,488 sf | $5,500,000 | $2,211/sf | +0.0% |
| Sep 22, 2023 | 5 | 3 BR · 3.5 BA · 2,488 sf | $5,450,000 | $2,191/sf | -0.9% |
| Mar 24, 2022 | 3 | 3 BR · 3.5 BA · 2,488 sf | $4,995,000 | $2,008/sf | -0.1% |
| Nov 23, 2021 | 2B | 1 BR · 1 BA · 636 sf | $1,250,000 | $1,965/sf | +0.0% |
| Aug 8, 2019 | 6 | 3 BR · 3.5 BA · 2,488 sf | $5,500,000 | $2,211/sf | -8.3% |
| Mar 13, 2013 | 2BSponsor Sale | 1 BR · 1 BA · 636 sf | $950,000 | $1,494/sf | off-mkt |
| Mar 13, 2013 | 2ASponsor Sale | 1 BR · 1 BA · 664 sf | $950,000 | $1,431/sf | off-mkt |
| Mar 13, 2013 | 3Sponsor Sale | 3 BR · 3.5 BA · 2,488 sf | $3,950,000 | $1,588/sf | off-mkt |
Market read. Most recent trades (2024) cleared a median $2,211/sf across 1 sale. Median listing discount 0.1% 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 1-00595-7506) 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
Model the taxes forward, not from today's bill. The 421-a is gone, and the tax class 2C cap means the billable assessment on a representative unit is currently a fraction of actual. That gap closes over time. This is the most consequential number in the building and the one most likely to be mispresented.
It is seven units, not eight. Two units were combined before the declaration recorded. Market data has not all caught up.
Confirm roof rights in writing. A roof terrace is a limited common element appurtenant to the penthouse under the declaration, with a mechanical setback attached. Do not assume general roof-deck access without checking what you are buying.
Small building, large assessments. Seven households funding a capital event is a different exposure than seventy. Pull the reserve balance and the capital plan before contract.
Understand the commercial units. Retail and community facility units at the base carry 6.1 percent of common interest and a usage-based split on several expense lines. Read the allocation footnotes.
Canal Street is Canal Street. The corner brings light and views on two exposures and traffic noise on one. Test it at rush hour, not midday.
What to know if you’re selling
Lead with new construction on a landmarked block. Nearly everything around this corner is a converted nineteenth-century warehouse, several of them individually designated. Modern systems, modern layouts and no conversion compromise is the argument no neighbor can make.
Present the tax path proactively. Sophisticated buyers will find the 2C convergence. Getting there first with a True Monthly Carrying Cost analysis is far better than having it emerge in diligence.
Correct the unit count and the address in your materials. Public data carries 523 Canal Street and, in places, eight residences. Both should be addressed up front.
The Arman provenance is a real differentiator. The name, the site history and the sculpture on the façade are documented and unusual, and they matter to the buyer pool this building draws.
Comparable buildings
If you're considering 482 Greenwich Street, also evaluate:
- 481 Washington Street — the 13-residence Spice Warehouse loft condominium on the same block; a separate condominium and the closest conversion counterpoint
- 471 Washington Street — nine-residence condominium on the same block, with its own expired 421-a; a distinct building frequently confused with its neighbors
- 465 Washington Street — nine-residence loft conversion and vertical enlargement on the same block; again a separate condominium
- 330 Spring Street — larger full-amenity condominium on the same block; the scale alternative
- 290 West Street — riverfront boutique condominium a short walk west
- 15 Renwick Street — Hudson Square new-construction condominium; the closest peer by vintage and neighborhood
- 22 Renwick Street — small-building Hudson Square alternative
- 505 Greenwich Street — larger Greenwich Street condominium a few blocks north
- 491 Greenwich Street — boutique building on the same corridor
- 2 King Street — small condominium at the Hudson Square–West Village edge
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Tribeca — read The Roebling Team Guide to Tribeca.
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 The Arman, or The Arman Condominium?
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 The Arman, or The Arman Condominium 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.