510 East 80th Street (The Carriage House)

Roughly 76,800 square feet of residential area over fifteen floors, on a lot of about 12,800 square feet, with a further 8,800 square feet of garage and a small office component. The plan offered 92 residences; the current audited statements count 94; the city's land-use file records 91. The differing figures may reflect different dates or unit populations. Reconcile the approved occupancy schedule, plan amendments and current unit matrix before treating any one count as conclusive.

Apartments run from studios through three-bedrooms, on lettered lines with balconies and terraces distributed across the elevation rather than uniformly. Those terraces and balconies are limited common elements under the declaration — appurtenant to the unit they serve, but common property for maintenance and alteration purposes, which matters when a buyer starts planning outdoor work. Several ground-floor units carry greenhouse structures projecting into the rear yard, filed with DOB across 2005 and 2017; these are unusual and should be inspected carefully for water and glazing condition.

Original kitchen and appliance specifications were mid-1980s builder-grade and each unit's renovation history requires confirmation. Ceiling heights and window proportions are of their decade rather than prewar. Compare exposures alongside condition, layout and monthly costs: north-facing lines look over East 80th Street and the low-rise blocks beyond; upper floors on the east open toward East End Avenue and, on the highest floors, glimpses of the river.

The Carriage House runs on approximately $1.25 million a year in common charges — a figure that was identical in each of the two most recent years reported in the audited statements on file, alongside about $33,600 of rental income and roughly $23,400 of laundry income. Staff are unionized under the building services agreement, and the condominium contributes to the industry multiemployer pension fund, which the statements disclose as being in critical status. Management is professional and off-site.

The unusual operating feature is the superintendent's housing. At the first closing in 1986 the condominium board purchased Unit 3G from the sponsor to house the superintendent, financing it with a mortgage. Four decades on, the arrangement has inverted: the condominium still owns Unit 3G and rents it to a tenant, while separately leasing a unit from the sponsor to house the superintendent. Both facts appear in the statements on file. It works, but a buyer should understand that the condominium is a landlord and a tenant simultaneously, and that a change on either side would move the budget.

Reserves are thin and the board has not commissioned a study. The designated reserve fund stood in the mid-$250,000s at the most recent year-end on file, with total cash just above $500,000 and members' equity under $460,000 — against a fifteen-story, 90-plus-unit building. The auditors note both that the condominium has not conducted a study to determine the remaining useful lives of building systems and has not developed a plan to fund future major repairs, and that the required supplementary information on future major repairs has been omitted from the statements entirely. That is a disclosure, not an allegation, and it is the single most important thing on this page for a buyer.

The recent capital history shows why it matters. The board approved a special assessment totalling approximately $445,000, collected monthly over four years from February 2018 through November 2021, to service a $400,000 term loan taken to fund capital projects and replenish reserves. The loan was repaid in full in November 2021 and the assessment concluded with it. In the two years covered by the statements on file, common area improvements were the city's periodic façade work, a booster pump system replacement, and a standpipe tank replacement then still in progress.

The façade record is the live issue. Under the city's periodic inspection programme the building filed unsafe in the cycle beginning in 2007, resolved to safe in 2008; filed unsafe again in the cycle beginning in 2017, amended to safe in mid-2018; and filed safe with a repair and maintenance programme in its most recent cycle, in September 2021. A 251-foot sidewalk shed has been permitted repeatedly — 2012, 2013 and 2016. This is a building that has spent real money on its envelope on a recurring basis, with modest reserves behind it and no reserve study. Ask the managing agent, in writing, for the current cycle status, the engineer's scope, the estimated cost, and how the board intends to fund it.

Recent sales

Recent closings 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. Most recent trades (2026 to date) cleared a median $965/sf (floor-adjusted) across 4 sales. Floor-adjusted means each sale is restated to a constant mix of floors, so the figure can differ from the plain median of the sales listed above. Median listing discount 3.5% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.

Sales sourced from NYC Department of Finance recorded transfers (BBL 1-01576-7501; each condominium apartment is its own tax lot). 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 from recorded condo declarations and offering plans.

Underwrite the reserve position, not the common charge. Common charges here have been flat, which looks like discipline and may be. But with reserves in the mid-six figures, no reserve study, no funding plan, and a façade programme that has repeatedly required work, the next capital cycle could be funded by an assessment, higher charges or borrowing. Price that scenario in.

Ask what the current façade cycle requires. The last filing was safe with a repair and maintenance programme. Get the engineer's report, the scope and the board's funding plan before contract.

Read the commercial and garage disclosure. The plan gives the residential owners no approval right over how the commercial units and the garage unit are used, and expressly contemplates uses producing heavy traffic or noise. Walk the block at different hours. Ask the managing agent what the units are currently leased for and for how long.

Note the sponsor's residual position. The sponsor retained a small percentage of common interests and leases a unit to the condominium for the superintendent. It is not a control position, but a lender may ask about it — have the answer ready.

The taxes are unabated. The 421-a benefit expired in the 1990s. Buyers arriving from newer, abated condominiums will find the tax line higher than they expect. Run the True Monthly Carrying Cost Calculator against the actual bill on the specific unit.

Terraces are limited common elements. Any work on outdoor space runs through the board and the declaration, not through your contractor alone.

Sell the tenure and the service package. In this pocket of Yorkville a condominium with a 24-hour doorman, a roof deck and a garage is a scarcer product than the price band suggests. Buyers who need pied-à-terre, LLC or trust ownership have very few alternatives within walking distance of Carl Schurz Park.

Get ahead of the reserve question. A buyer's attorney will read the auditor's note about the omitted reserve information. A seller who supplies the current financials, the current budget and the board's façade plan up front gives the buyer's advisers the records needed to assess the reserve and façade questions; no fixed delay reduction is established.

Say plainly that the assessment ended. The four-year debt-service assessment concluded in November 2021 and the underlying loan was repaid. That is a positive fact and it is easy to miss.

Price the outdoor space honestly. Terraces and balconies are the building's differentiator against the surrounding stock, and comparables should come from units with equivalent outdoor space, not from the building average.

Condition decides the outcome. Original 1986 kitchens and baths clear only when priced against the cost to replace them. Run the Renovation Cost Calculator against your asking strategy.

If you're considering 510 East 80th Street, also evaluate:

• 507 East 80th Street — the boutique condominium directly across the street; the small-building alternative on the opposite block face
• 525 East 80th Street — condominium further east on the same street toward East End Avenue
• 2 East End Avenue — on the same tax block at the East End Avenue corner; the prewar comparison
• 10 East End Avenue — also on the same block; the postwar full-service cooperative alternative
• 515 East 79th Street — the 1981 tower on the same block's southern frontage; the closest like-for-like on vintage and scale
• 502 East 81st Street — one block north; the smaller-building comparison
• 301 East 80th Street — the same street at Second Avenue; the transit-adjacent alternative
• 345 East 80th Street — mid-block East 80th Street between First and Second; a different block character
• 200 East End Avenue — the full-blockfront cooperative on the park nine blocks north; the co-op step across into the East End corridor
• 25 East End Avenue — prewar cooperative on the East End Avenue corridor; the prestige comparison