- Year built
- 2007
- Type
- Condominium
- Units
- 72
- Floors
- 18
- Landmark
- No
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at Fifty Franklin 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.
Most of Tribeca's condominium stock is converted warehouse. 50 Franklin Street is a ground-up condominium from the 2000s building cycle. It was built on a former parking lot directly beside the Tribeca East Historic District, on a block of nineteenth- and early-twentieth-century store-and-loft buildings. The district boundary runs along its lot line, so it could be built new, in glass and masonry, while every neighbor on the Franklin Street frontage stays under LPC review.
It was also built into the 2008 downturn. Construction started in 2007, the condominium began operating in 2009, and the sponsor started closing units in January 2010. The offering plan let the sponsor rent unsold units if prices fell more than 15%. In December 2011 and January 2012 the sponsor conveyed its last 19 apartments in blocks of three to six to four LLC buyers. Those apartments have since resold one by one. None of the four entities appears on the current roll, and no owner other than the condominium itself holds more than two residences.
The result is an ordinary 72-unit condominium with a mid-market Tribeca profile: apartments, many with a balcony or terrace, in-unit laundry, a full-service lobby and parking. It has one operational history worth knowing about, a large facade and balcony assessment, which the finances section covers.
Architecture and unit composition
The building rises 18 stories, set back above the eleventh floor. The lower floors carry five apartments per floor. The upper floors carry three, and those units pick up more exposure and larger terraces. The facade is built around deeply inset balconies, a Tribeca building type that relies on railings, slab edges and waterproofing. At 50 Franklin those components turned out to be the expensive part of the building (see below).
The offering plan specified Bosch and Miele cooking appliances, Sub-Zero refrigerators, hardwood floors, lacquered cabinetry and a stacked washer-dryer in each unit. Each residence has an individual heat pump for heating and cooling. The plan also bars owners from altering, enclosing or painting their balconies and terraces, to keep the facade uniform. Parking (eleven spaces) and storage (72 lockers) are separate condominium units, bought and sold on their own.
Building operations
Finances, per the audited financial statements on file (years ended December 31, 2022 and 2021):
- Assessment: In 2020 the condominium levied a special assessment of about $2.25 million to pay for restoring the facade, railings and balconies. Owners could pay in one lump sum or in ten installments with a 3.5% surcharge. Most of the work was booked in 2021, at about $1.3 million for facade, railings and balconies plus about $170,000 for garage waterproofing. DOB records the railing reinforcement and balcony slab job as signed off in October 2021. Ask whether any installments remain outstanding on the unit you are buying, and who pays them at closing.
- Reserves: About $222,000 in the reserve fund at year-end 2022, drawn down by the balcony project. The board budgets 10% of common charges to reserves each year. The condominium has not commissioned a reserve study.
- Operations: Operations were roughly break-even in 2022. Common charges total about $1.1 million a year, and the 2023 budget raised them 3.27%. Concierge service is the largest single operating line after utilities.
- Condominium-owned units: The condominium bought Units 3D and 1A from the sponsor in 2014. It leases 3D to a third-party tenant and rents the guest suite to residents, and both produce income.
Certificate of occupancy: The final CO issued in May 2023. Before that, the building ran on temporary certificates renewed through the 2010s. That is resolved now, but a lender's older questionnaire answers may still reflect it.
Facade: The building filed UNSAFE under the city's facade inspection program in February 2019. That filing was amended to SAFE in December 2021 after the balcony work. The Cycle 9 filing in March 2022 was SAFE.
Recent sales
50 Franklin trades as a 2000s Tribeca new-construction condominium. The right comparison set is the other ground-up condominiums of the same cycle, priced per square foot. Converted warehouse lofts with higher ceilings and cast-iron character command a different premium. Resale activity is steady for a 72-unit building, and ACRIS records sales to separate, unrelated buyers. The three-per-floor units above the setback and the penthouse level set the top of the range. The lower-floor five-per-floor units set the bottom. Outdoor space and a parking or storage unit sold with the apartment move individual prices noticeably. Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
Recent closings at this building, sourced from NYC Department of Finance records. Apartment-level detail (line, condition, asking-price context) verified upon consultation request.
| Date | Unit | Price |
|---|---|---|
| May 15, 2026 | S15A | $1,675,000 |
| Mar 19, 2026 | 7A | $1,125,000 |
| Mar 6, 2026 | 8D | $1,525,000 |
| May 22, 2025 | S9A | $1,800,000 |
| Dec 10, 2024 | 18C | $1,725,000 |
| Aug 27, 2024 | S16B | $1,705,000 |
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 1-00172-7504) 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.
At the recent median sale of $1.68M (5 sales since 2024), a buyer putting 25% down would pay about $70,050 to close, or 4.2% of the price.
- Mansion tax: $16,750
- Mortgage recording tax: $24,183
- Title insurance: $7,537
- Attorneys, lender, building fees, reserves and filings: $21,580
Assumes a resale (the seller pays transfer taxes), a $4,500 attorney fee and a mortgage on the rest.
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What to know if you’re buying
Price in full taxes. The 421-a benefit ended with the 2020/21 tax year. Listings written from older tax bills can understate carrying costs, so work from the current DOF bill for the specific unit.
Clear the assessment. Confirm in writing from the managing agent that the 2020 balcony assessment is paid in full on your unit, or how the contract allocates any remaining installments.
Ask about reserves. Reserves were thin after the balcony program. Ask for the current balance, the most recent budget and any planned capital work.
The right of first refusal is procedural. The board can match a sale but cannot approve or reject a buyer. Expect a waiver package and a waiting period, not an interview.
What to know if you’re selling
Lead with the fundamentals. In-unit laundry, a balcony or terrace where the unit has one, a doorman and parking in the building are the selling points. The restored balconies address the obvious diligence question.
Have the paper ready. A final certificate of occupancy since 2023, a SAFE facade filing and the assessment payoff letter will answer the three questions a buyer's attorney asks first.
Comparable buildings
If you're considering 50 Franklin Street, also evaluate:
- 374 Broadway (Mandarin Plaza) — 1988–90 new-construction condominium on the same block
- 81 White Street — small loft condominium on the same block
- 200 Chambers Street — 2007 Tribeca new-construction condominium with parking
- 101 Warren Street — 2008 Tribeca new-construction condominium
- One York Street — 2008 Tribeca condominium
- 40 Mercer Street — 2007 new-construction condominium just north of Canal
- 67 Franklin Street (Cast Iron House) — loft conversion on the same street
- 56 Leonard Street — the newer-generation Tribeca tower alternative
More Tribeca buildings
- 46 Lispenard Street — 1866 condominium
- 47 Hudson Street — 1881 co-op
- 47 Walker Street — 1867 condop
- 51 Walker Street — 2005 condominium by CetraRuddy Architects
- 52 Laight Street (The Laight House) — condominium
- 52 Lispenard Street — 1867 condominium
The neighborhood
For the full corridor — architecture, 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. Where this page compares one building or neighborhood to another, that is our analysis of the recorded record — it names the measure, the period and the sample it rests on, and it is an observation about medians rather than a prediction about any particular apartment.
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