60 East 9th Street (The Hamilton)

Six stories, roughly 204,000 square feet of building on a 45,400-square-foot lot — a broad, low, red-brick slab rather than a tower, which is why it holds 214 apartments on six floors. The mix as offered ran from studios through four-bedrooms, and two of the original units were professional apartments rather than residences. Apartment numbering runs by floor, so a first digit tells you the level.

Postwar plans of this vintage are efficient rather than grand: modest foyers, low-to-standard ceiling heights, straightforward room shapes and good closet counts. They renovate cleanly. The building is built to 4.50 FAR against a 6.02 residential ceiling, which is unusual — most Village apartment houses of any age are over-built relative to current zoning, and this one is not.

Tax history. The Department of Finance J-51 record shows three grants at lot 1203 — one initiated in 1990 against roughly $148,400 of qualifying alteration cost, one initiated in 1991 against roughly $47,600, and one initiated in 1998 against roughly $135,000, each a 90 percent abatement on a twelve-year schedule extended to fourteen. The first two were consumed by tax years 2001 and 2002; the last ran through tax year 2009 and the record ends there. There is no J-51 benefit today and no building-wide exemption on the lot. The exemptions that appear on the assessment roll are individual shareholder benefits — the co-op and condominium abatement, STAR, veterans' and seniors' exemptions — which the corporation receives and credits back to eligible shareholders against carrying charges. Underwrite full unabated taxes; real estate taxes were the single largest line in the operating budget in the most recent statements on file.

Debt. In June 2018 the cooperative refinanced into a $9,500,000 note at 3.93 percent, interest only, on a ten-year term with an option to extend for a further ten years — monthly payments of approximately $31,112 with no amortization. The prior $5,600,000 mortgage carried 5.08 percent and was retired early at a prepayment penalty of $230,510. A $1,000,000 line of credit was opened alongside it and was undrawn at the most recent year-end on file. Two things follow. The debt is fixed at a good rate into 2028 with an extension option behind it, which is a real advantage. And because it is interest-only, no principal is being retired — the $9.5 million is still $9.5 million, and the refinancing question is a 2028 question, not a 2038 one. Ask the managing agent whether the extension option has been exercised.

The 2017 fire and the assessment. A fire in 2017 caused substantial damage. Claims and reimbursements were recorded on the condominium's books; the cooperative incurred $184,370 of fire-related security and consultant costs directly, received $824,259 of business-interruption insurance through 2019 which it applied against unpaid shareholder charges, and had advanced $2,524,722 to the condominium by the end of 2019 to fund the loss and restoration. A fire-loss assessment of $2,187,000 was approved effective April 1, 2020, with shareholders offered an optional 48-month payment period. On its face that schedule ran to April 2024, but the statements on file do not extend that far. The cooperative also levied general operating assessments of roughly $307,000 and $344,000 in the two prior years. Confirm the current assessment position in writing before pricing any apartment here.

Reserves and reserve study. The cooperative has not conducted a study of the remaining useful lives of the common property or the cost of future major repairs — the auditors flag the omission as an emphasis of matter. Cash and equivalents stood at roughly $2.86 million at the most recent year-end on file, but a large receivable from the condominium sat alongside it.

Governance. The corporation has pursued a long-running enforcement action against a shareholder over an unauthorized and unlegalised apartment alteration, obtaining a judgment, a contempt order and reimbursement of legal fees over a period of more than a decade. We name no party. The point for a buyer is procedural rather than gossip: this board enforces its alteration agreement, in court, for as long as it takes. File your alteration properly.

Building staff are covered by a Building Service 32BJ collective bargaining agreement.

Statements on file are dated. The most recent audited financial statements in The Roebling Research Library cover 2018 and 2019. Everything above is accurate as of those statements and the 1986 plan; the current mortgage, assessment and reserve position must come from the managing agent.

Three points, all from the documents on file:

One. You are buying shares and a proprietary lease. Board approval is required, the board interviews, and the board's discretion is not reviewable. Condominium-style rights of first refusal do not apply here.

Two. The cooperative is one of three unit owners in the condominium, holding 68.668 percent of the common interest. Fuel and building insurance are condominium common expenses; electricity is separately metered and billed directly to apartments and to the commercial and garage tenants. The condominium — not the cooperative — owns the land and the building.

Three. The commercial and garage units are separately owned and, under the condominium declaration and by-laws, their owners have the right to rent and alter space within their units for essentially any lawful purpose. A buyer who assumes the ground floor and the garage are controlled by "the building" is assuming something the documents do not say.

Ownership form: Condop. Full board package and interview; eight to twelve weeks from executed contract to closing is realistic. NYC Local Law 58 of 2026 now imposes acknowledgment and decision deadlines on co-op boards, which helps.

Financing: 75 percent maximum, 25 percent minimum down, per management-sourced records. Note that lender treatment of condops is not always identical to a straight co-op; have your mortgage broker confirm the building is approved before you go to contract.

Post-closing liquidity: Not published. Ask.

Subletting: Permitted with board approval. The sixty-day advance filing requirement is strict and enforced — packages arriving inside sixty days are returned. The annual sublet fee is two months' maintenance per year of the sublease, refundable if the subtenant is rejected, plus a shareholder move-out fee and subtenant move-in and move-out fees. Sublease renewals are again board-approved and carry the same annual fee. Do not assume this is an investor building.

Pied-à-terre, co-purchase and guarantors: Not documented in anything on file. A market record reports all three are prohibited. Get the board's position in writing.

Trusts and LLCs: Not addressed in the documents on file. ACRIS shows transfers involving estates and executors, so estate conveyances plainly function. Trust and entity ownership is a separate question with tax-abatement consequences; raise it with counsel.

Pets: Permitted with board approval.

Fee stack: Buyer-side application, credit, messenger, financing and move-in fees at submission and closing; seller-side messenger, administrative, move-out and transfer fees plus the per-share stock stamp tax. The four-months'-maintenance capital contribution is the number that matters. All of it is management-sourced and none of it is published by the cooperative — verify it against the current schedule.

Recent sales

Recent transfers 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.

Market read. Most recent trades (2026) cleared a median $1,065/sf across 2 sales. Median listing discount 2.0% 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 1-00560-7503) 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 on co-ops is not officially recorded, figures shown are approximate.

Confirm the tenure before anything else. This is a cooperative unit inside a condominium. If a listing, a data product or a lender's system tells you it is a condominium, it is reading the wrapper. Your attorney needs both the co-op documents and the condominium declaration and by-laws.

Confirm your lender approves condops. Not every lender treats them identically to co-ops, and 75 percent financing is only useful if someone will write it.

Budget the capital contribution. Four months' maintenance, buyer-paid, non-refundable, at closing. On a larger apartment that is a substantial number and it does not appear in the asking price.

Ask where the fire assessment stands. A $2,187,000 fire-loss assessment was approved effective April 2020 on a 48-month optional schedule. Ask whether it is complete, whether anything replaced it, and what the building's current reserve position is.

Understand the mortgage. $9.5 million interest-only at 3.93 percent, maturing 2028 with a ten-year extension option. Good rate, no amortization. Ask whether the board intends to extend.

There is no abatement left. The last J-51 grant was consumed in tax year 2009.

File your alteration properly. The board has litigated alteration compliance for over a decade. Run the Renovation Cost Calculator and build the approval timeline into your plan.

Electricity is yours. It is separately metered and billed directly, so the maintenance figure understates your true monthly relative to buildings that bundle it.

Explain the condop, don't bury it. Buyers and their attorneys will find it. Presenting the structure clearly — with the 68.668 percent common interest and the three-unit condominium spelled out — converts a mid-deal surprise into a diligence item.

State the capital contribution up front. Four months' maintenance is a real cost to your buyer and it is better absorbed during negotiation than discovered at the board package stage.

Lead with the block. No through retail, a coherent mid-century streetscape, a common garden, a garage in the building, and Washington Square a few minutes west. That is a specific product, and it differentiates the building from loft conversions to the south.

Document the building's finances honestly. A fixed 3.93 percent note into 2028, an undrawn credit line, and a completed fire restoration are defensible facts. The Roebling Research Library holds the underlying documents and we provide them to serious buyers' counsel.

If you're considering 60 East 9th Street, also evaluate:

• 20 East 9th Street — the postwar full-service neighbor one block west, between Fifth Avenue and University Place
• 115 East 9th Street — the East Village/NoHo postwar alternative on the same street
• 2 Fifth Avenue — the Washington Square postwar co-op that opened this wave of Village development
• 11 Fifth Avenue (The Brevoort) — the Fifth Avenue postwar co-op on the Brevoort Hotel site; the step up in address
• 24 Fifth Avenue — prewar Fifth Avenue co-op; the older, higher-carry alternative
• 38 West 9th Street — the landmarked 1880s Village co-op on the far side of Fifth; the opposite product on the same street
• 10 East 12th Street — postwar full-service co-op a few blocks north
• 1 Astor Place — the NoHo alternative at the eastern edge of the corridor