83 First Avenue (347 East 5th Street)
83 First Avenue, New York, NY 10003
East Village
BBL 1004477501 · BIN 1077683
- Year built
- 1900
- Type
- Condop
- Units
- 20
- Floors
- 6
- Landmark
- No
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 83 First Avenue (347 East 5th Street) 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.
This is a six-story prewar walk-up on the corner of First Avenue and East 5th Street, two blocks south and one avenue west of Tompkins Square Park, and a short walk from the F train at Second Avenue. The First Avenue ground floor is a restaurant; the apartments above use the 347 East 5th Street address as well as the avenue numbers.
The ownership structure makes the building different from an ordinary co-op. In 1991 the sponsor split the building into a two-unit condominium: one unit for the storefront, one for everything above it. It then conveyed the residential unit to a co-op corporation. Buyers purchase shares in that corporation and get a proprietary lease, as in any co-op. The corporation in turn is a unit owner in the condominium, pays taxes on its own unit lot, and shares condominium governance with the owner of the storefront.
In practice the co-op board controls who buys an apartment, while the condominium board of managers controls the building's shell, roof and shared systems, on which the retail owner has a voice. That arrangement is common in the East Village and usually unremarkable. It is still worth understanding before signing.
Architecture and unit composition
The building fills a roughly 49-by-70-foot corner lot. The Department of Finance records about 11,600 gross square feet in the residential unit and about 4,100 square feet in the commercial unit. How common charges divide between the two units is set in the condominium declaration, which is not on file with us.
The apartment count needs to be resolved at diligence (see At a glance). By the Department of Finance count the apartments are small: under 600 gross square feet each on average, before combinations and including halls and stairs. Several owners have combined adjoining apartments, and the combined apartments are the building's larger homes. Layouts and exposures are not documented in public records; confirm them line by line.
Building operations
Two boards. The co-op board handles admissions, maintenance and house rules for the apartments. The condominium board of managers, with the co-op and the commercial owner as its two unit owners, handles the building as a whole. The corporation pays common charges to the condominium and real estate taxes on its unit lot, and passes both through to shareholders in maintenance.
Underlying debt. The corporation refinanced in 2017 with an $825,000 mortgage from a cooperative lender, replacing a prior loan held by Fannie Mae. That is modest debt for the size of the building. Ask for the maturity date and rate.
Rooftop easement. In 2024 the condominium board granted a recorded easement to a wireless-infrastructure company, with stated consideration of $850,000. Arrangements like this usually convert a rooftop antenna lease into a lump sum. How the proceeds were divided between the co-op and the commercial owner, and how the co-op used its share, is not in the public record. Ask to see it in the financial statements.
Investor-held shares. In 2016 the sponsor sold its last unsold apartment shares, four apartments, to a single company, per ACRIS. No resale of those shares has been recorded since. If one holder still owns four apartments, that affects some share lenders' concentration tests and the building's owner-occupancy figure. Confirm the current position with the managing agent.
Tax status. The building is fully taxed, and no J-51 burn-off remains.
Buying here? Co-op closing costs typically run 2 to 3% of the price. See NYC co-op and condo closing costs, line by line.
Keep up with 83 First Avenue (347 East 5th Street) and its market
The Roebling Report, monthly: Manhattan sales data and analysis, including buildings like83 First Avenue (347 East 5th Street). Unsubscribe anytime.
We’ll use your email for The Roebling Report and note your interest in this building. See our privacy policy.
What to know if you’re buying
Resolve the apartment count and the certificate of occupancy. The Department of Finance count is 20 and the legal count is 10. Before contract, find out which apartments are legal units and whether any combination or division lacks DOB sign-off. Lenders will ask.
Read the condominium documents as well as the co-op documents. The declaration and by-laws set how costs are split with the storefront, who controls the roof and façade, and what the retail owner can do. The co-op's proprietary lease and house rules set the apartment-level policies.
Ask about the easement proceeds and the financials. A 2024 lump sum of this size can fund real capital work or quietly cover operating shortfalls. The statements will show which.
Confirm the sublet and pied-à-terre policy. Neither is documented in anything we hold.
What to know if you’re selling
Explain the condop structure up front. Buyers and their attorneys handle it routinely when it is explained early.
Have the unit's legal status documented. If your apartment is a combination, have the DOB paperwork ready. It is the first question a lender's counsel will ask.
Comparable buildings
If you're considering 83 First Avenue, also evaluate:
- 214 Avenue A — a circa-1920 East Village co-op also structured as a condop
- 50 Avenue A — a prewar East Village co-op operated as a condop
- 24 East 7th Street — a co-op on a condominium billing lot with a commercial unit, near Cooper Square
- 87 St. Marks Place — a walk-up co-op of similar scale assembled from three row houses
- 87 East 2nd Street — a 1910 elevator co-op three blocks south on First Avenue; the elevator alternative
- 232 East 6th Street — a 1929 elevator co-op a block north and two avenues west, inside the historic district
- 193 Second Avenue — a 1902 prewar co-op a few blocks northwest
More East Village + NoHo buildings
- 75 First Avenue — 2020 condominium
- 77 Bleecker Street (Bleecker Court) — 1930 co-op
- 80 East 10th Street — 2017 condominium
- 87 East 2nd Street — 1910 co-op
- 87 St. Marks Place — co-op
- 89 Avenue A — 1900 condominium
The neighborhood
For the full corridor — architecture, transit, and pricing across East Village + NoHo — read The Roebling Team Guide to East Village + NoHo.
The full playbook — what goes in the package, how boards read your financials, the interview, and the timeline — plus sample cover, reference, and personal letters you can adapt.
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.
Considering a move at 83 First Avenue (347 East 5th Street)?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.