50 Plaza Street East

Twelve stories on an 11,071-square-foot lot with about 104 feet of frontage and a building depth of roughly 90 feet, carrying about 83,800 square feet of residential area and a small non-residential component. The 1983 plan allocated 10,000 shares in blocks across 49 apartments, with the allocation set by size, space, location, amenities and desirability. With 49 apartments, each holds on average about 2 percent of the corporation's shares; the share count itself is a building-specific total and does not compare across cooperatives.

The plans are 1925 Brooklyn at generous scale, with the balconies as the distinguishing feature on the plaza and Butler Place elevations. The building is semi-attached, so the party-wall condition on part of the northerly line matters for sound and for any alteration touching that wall. Four decades of shareholder ownership have produced combinations and reconfigurations, so the 1983 schedule is an imperfect map of the building today.

Because the property is outside every designated district, alterations here proceed through board approval and Department of Buildings permits alone. On a twelve-story building with balconies, cornices and stone projections, the absence of a Landmarks review layer meaningfully shortens the calendar on any envelope project — and it is one of the few places where an unlandmarked address is worth a specific number.

The 1983 operating model was modest for a twelve-story building: three and a half employees including the superintendent, whose duties the plan itemizes down to maintaining the public areas and the sidewalk, replacing lighting equipment and carting garbage; an Otis elevator service contract; and a laundry concession with Dime Laundry Service paying the corporation a flat $900 a year while the corporation maintained, cleaned, painted and heated the room and supplied the water and gas. Selling and managing agency at conversion sat with Park West Realty Company at the sponsor's own address, a related-party arrangement the plan disclosed and which is historical only.

The cooperative's Department of Housing Preservation and Development registration names EBMG LLC as managing agent for the current cycle. Staffing, contracts and budget are board-made now and should be confirmed rather than inferred.

The capital list on a 1925 twelve-story masonry envelope with projecting balconies is specific: the Local Law 11 façade cycle, the balconies and their railings, the roof and cornice, the elevator, the heating plant and the risers. In a 49-apartment corporation each of those lands on a narrow share base. Request three years of financial statements, the reserve balance, the assessment history, the last two façade filings, the current certificate of occupancy, and — first — the terms of the underlying mortgage, to assess debt service alongside taxes, staffing, reserves and other maintenance components.

Transfers and subletting: Under the by-laws and proprietary lease as filed, shares may not be sold, the proprietary lease assigned, or the apartment sublet without consent duly authorized by resolution of the board of directors or given in writing by a majority of directors, or — if the board withholds consent — by written consent or vote of shareholders owning a specified proportion of outstanding shares. Current board policy, including waiting periods, term limits and fees, is a separate question; get it in writing at the application stage.

Superintendent's apartment: The cellar apartment is designated the superintendent's and was not offered under the plan.

Flip tax or transfer fee: Not documented in the plan reviewed. Ask the board directly; a cooperative of this vintage may well have adopted one by amendment.

Pets, pied-à-terre, washer-dryer, financing minimums, move-in fees: Not documented. Confirm against the current house rules and purchase application.

Landmarks: None applicable. Exterior alterations proceed through the Department of Buildings.

Recent sales

Recent transfers at this building, from The Roebling Research Library. 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.

Market read. $/sf is measured on the latest sales with reliable square footage (2024): a median $1,040/sf (floor-adjusted) across 1 sale. The building has traded as recently as 2025. Median listing discount 0.0% from the last ask.

Sales sourced from NYC Department of Finance recorded transfers (BBL 3-01170-0001). Apartment-level facts (line, condition, asking-price context) curated and cross-verified in The Roebling Research Library. 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.

Ask for the current certificate of occupancy. The building's legal unit count was an open question at conversion — 46 on the certificate against 49 offered — and the sponsor's undertaking to fix it is in the plan. Confirm where it landed.

Ask when the balconies were last rebuilt. Stone and metal balconies projecting over the street on a 1925 building are capital items to assess with the engineer's condition report, and they run through the Local Law 11 cycle.

Get the underlying mortgage terms early. In a 49-apartment corporation, assess debt service alongside the other components of maintenance. Balance, rate and maturity, alongside three years of financials and the assessment history.

Understand what an eviction plan meant. It is a historical fact about how the building converted, not a live condition. The plan allowed the cooperative to come out of 1984 with few protected tenancies; confirm with the managing agent whether any remain.

Confirm the party-wall condition if the apartment adjoins it. The building is semi-attached along part of its northerly line. That matters for sound and for any alteration touching that wall.

Lead with the square footage and the balcony. Roughly 1,700 gross square feet per apartment on public data, in a twelve-story building on the Grand Army Plaza arc, with projecting stone and metal balconies. Those are three facts and they are all checkable.

Photograph the outlook from the actual floor. At twelve stories the upper lines clear the canopy and open toward the plaza and the park. That is the listing; a lower-floor apartment needs a different one.

Explain the no-Landmarks position. The 2009 Prospect Heights district and the Park Slope district both stop short of this block. Window replacement, ironwork and façade work here do not go through the Landmarks Preservation Commission, and buyers coming from the district blocks price that once it is explained.

Assemble the board package before the first offer. Financials, reserve balance, assessment history, house rules, sublet policy, flip tax, the current certificate of occupancy and the façade and balcony history.

If you're considering 50 Plaza Street East, also evaluate:

• 34 Plaza Street East — the 1956 twelve-story cooperative on the same tax block; the closest direct comparison
• 20 Plaza Street East — the 1940 six-story cooperative holding the curve of the plaza
• 10 Plaza Street East — the 1959 fifteen-story cooperative on the next block
• 41 Eastern Parkway — the parkway's twelve-story prewar co-op, with the largest apartments on that blockfront
• 39 Plaza Street West — the Rosario Candela cooperative on the western arc; the plaza's prewar benchmark
• 135 Eastern Parkway (Turner Towers) — the neighborhood's largest prewar cooperative
• 125 Eastern Parkway (The Theodore Roosevelt) — 1923 six-story parkway co-op; the low-rise comparison
• 230 Park Place — the Art Deco elevator co-op inside the Prospect Heights Historic District
• 44 Butler Place (Butler Plaza) — the prewar condominium around the corner, for buyers weighing tenure