The listing facts are current enough for an initial property review.
16 W 16th St Apt 5NS
Comps
Listing Notes
Situated just off Fifth Avenue and down the street from Union Square, this Junior 1 bedroom with a low maintenance is located in The Chelsea Lane, a premier full service coop. Converted from an alcove studio, the apartment has a sliding door allowing for a separate bedroom while still allowing for an open feel. The well-proportioned home features an entry area/living room measuring approximately 31 feet long. The spacious living room has a perfect spot for a dining table, 3 large closets a generous sized galley kitchen and newly refinished wood floors. In addition, the bathroom has a window, not commonly found in the building. Amenities in The Chelsea Lane include a 24 hour doorman, live-in super, full staff, bike storage (fee) and an on-site managing agent. The pet-friendly coop permits up to 80% financing and pied-a-terre and parents buying for working children is permitted with board approval. Substantial recent upgrades include new lobby, hallways, elevators, roof and parapet replacement. Dream location at the crossroads of Chelsea/Flatiron and Union Square with Madison Square Park in close proximity. All major subway lines are nearby and Greenwich Village is just 2 blocks away. There is a $299.83 monthly assessment thru 2/27.
Market Insights
$1111/sqft vs a nearby median of $1376/sqft.
- -19% versus the nearby median price per square foot.
- Price history is limited, so current comps matter more than trend alone.
- 575 sqft creates a usable price-per-square-foot read.
Pricing Read
Asking price is about 14.6% below the fair value — likely to draw competing offers if it's still on market.
- Transit access+$18k +2.5%
- Mid-century building era−$11k −1.5%
Property Read
The asking price per square foot is below the nearby median, which can be worth a closer comp check.
Price history is still limited; review again as more market activity becomes available.
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Generated from the facts shown on this page and nearby market data. Not a professional appraisal.
Listing Details
- Days on market
- 55 days
- Last price change
- No change recorded
- Listed
- Mar 18, 2026
- Photos
- 14 photos
- Property type
- coop
- Status
- for sale
- Last sold
- Jun 13, 2011 · $530,000
Features & Amenities
Photos
Building Facts
- Year built
- 1964
- Stories
- 14
- Total units
- 483
- Residential units
- 481
- Building area
- 9.27 ac
- Lot size
- 1.04 ac
- Land use
- Multi-family elevator buildings
- Building class
- D4
From NYC public records where available.