- Year built
- 1872
- Type
- Cooperative
- Landmark status
- Not an individual landmark; in the SoHo-Cast Iron Historic District
- NYC Landmarks Preservation Commission records, updated February 2026
- Subletting by shareholders
- Permitted with conditions
- Washer/dryer
- Permitted
- Maximum financing
- 80% of the purchase price
- Flip tax
- 2% of the purchase price, paid by the seller
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 87 Mercer 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.
About the building
87 Mercer Street is part of the 50-foot-wide commercial loft building at 85–87 Mercer Street, designed by Robert Mook for Amos Eno. The Italianate exterior belongs to SoHo's nineteenth-century commercial architecture. The upper floors subsequently became cooperative residences legalized under the Loft Law, while retail occupies the base. The City Planning Commission documented that residential and commercial division in its 2018 review of ground-floor retail use.
The homes include broad lofts with direct keyed-elevator entry and multilevel penthouse space above the original building. High ceilings and large windows reflect the commercial floor plates. Upper residences incorporate terraces and roof-level outdoor areas, with internal stairs connecting multiple living levels. The penthouse configuration is substantially different from the single-floor lofts below.
Application and transaction fees
Fees below are from building management's published schedule, as of August 2026. They are shown as published, item by item; no total is added because the total depends on the transaction. Deposits are listed apart from nonrefundable charges.
- Terms
- 2% of the sales price
- Rate
- 2% of the purchase price
- Paid by
- Seller
Source: building management's published schedule, as of August 2026
Purchase
4 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Fee | Paid by Buyer | When With the application | Amount $650 | Refundable Non-refundable |
| Credit Check FeePer applicantRequired | Paid by Buyer | When With the application | Amount $150 per applicant and any occupant 18 or older residing in the unit. | Refundable Non-refundable |
Deposits
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Move In Deposit | Paid by Buyer | When With the application | Amount $500 | Refundable Refundable |
| Move Out Deposit | Paid by Seller | When With the application | Amount $500 | Refundable Refundable |
Sublet
6 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Processing Fee | Paid by Subtenant | When With the application | Amount $600 (includes one free credit check) | Refundable Non-refundable |
| Credit Check FeePer applicant | Paid by Subtenant | When With the application | Amount $20 per additional applicant after free credit check and any occupant 18 or older residing in the unit. | Refundable Non-refundable |
| Sublet FeeRecurring | Paid by Shareholder | When Upon approval | Amount 1 percent of the monthly rent monthly | Refundable Not stated |
Deposits
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Move Out Deposit | Paid by Shareholder | When With the application | Amount $500 | Refundable Refundable |
| Move In Deposit | Paid by Subtenant | When With the application | Amount $500 | Refundable Refundable |
Sublet renewal
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Fee | Paid by Subtenant | When With the application | Amount $300 | Refundable Non-refundable |
Refinance
1 item
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Processing Fee | Paid by Shareholder | When With the application | Amount $350 | Refundable Non-refundable |
Management updates its schedule without a public filing. The date is when management last updated the page, not when a rule changed. Confirm the current schedule with management before you apply.
Considering an apartment here? Send Corey the listing to discuss the building's costs and purchase requirements.
Own an apartment here? Request an apartment-specific pricing review.
Financing and purchase requirements
- Maximum financing
- 80% of the purchase priceSource: building management's published schedule, as of August 2026
- Co-purchasing
- PermittedSource: building management's published schedule, as of August 2026
- Parent buying for an employed child
- Not permittedSource: building management's published schedule, as of August 2026
- Parent buying for a student child
- Not permittedSource: building management's published schedule, as of August 2026
Sublet and pied-à-terre policy
A condominium owner leasing a unit and a co-op shareholder subletting are different rules, and a building-wide rule is different from a restriction on one apartment. This is the building's rule; confirm it for the specific apartment.
- Subletting by shareholders
- Permitted with conditionsApplication required for Board approval. Fee: 1% of the monthly rent.Source: building management's published schedule, as of August 2026
- Pied-à-terre ownership
- Not verified
Considering an apartment here? Send Corey the listing to discuss the sublet and pied-à-terre rules for that apartment.
Pets and in-unit washer/dryer
- Pets
- Not verified
- In-unit washer/dryer
- PermittedSource: building management's published schedule, as of August 2026
Considering an apartment here? Send Corey the listing to confirm the pet and washer/dryer rules for that apartment.
Local Law 97
This building is below the 25,000 sq ft threshold at which LL97 limits apply to a building on its own. It is still covered if it shares a tax lot or condominium board with buildings totaling over 50,000 sq ft; confirm on DOB’s covered-buildings list.
See full Local Law 97 analysis →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.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Sep 4, 2025 | PHB | 4 BR · 4.5 BA | $17,400,000 | -2.8% | |
| Dec 2, 2021 | 2 | 1 BR · 2 BA | $2,650,000 | +0.0% | |
| Jun 8, 2021 | 2R | 2 BR · 2,000 sf | $2,650,000 | $1,325/sf | -1.9% |
| Aug 7, 2015 | 2R | 1 BR · 2 BA | $3,150,000 | +5.2% | |
| Jan 21, 2010 | 4 | 4 BR | $3,825,000 | -33.5% | |
| Oct 6, 2006 | 2F | 3 BR · 2,500 sf | $2,995,000 | $1,198/sf | -7.8% |
Market read. $/sf is measured on the latest sales with reliable square footage (2021): a median $1,325/sf (recorded) across 1 sale. The building has traded as recently as 2026. Median listing discount 1.9% 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 1-00485-0025). 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.
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What to know if you’re buying
Commercial and residential uses have separate legal histories here. Upper-floor residential legalization does not make every space in the cooperative interchangeable with a dwelling or storefront. For a loft purchase, match the proprietary lease to the approved residential use; for roof-level space, identify how the cooperative divides responsibility for terraces, additions and the underlying roof.
Comparable buildings
- 93 Mercer Street: A small prewar cooperative on the same block.
- 80 Wooster Street: A nearby cooperative with a commercial-loft architectural background.
- 106 Spring Street: Another limited-inventory cooperative in SoHo.
- 477 Broome Street: A larger historic loft cooperative for comparing residential scale.
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 87 Mercer Street?
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646.939.7375 · c.cohen@compass.com