RealtyLens
for saleRealtyLens property overview
$1,495,000

265 Water St Apt 5

New York, NY, 10038
View more New York, NY property pages
2Beds
2Baths
1,818Sqft
$822$/sqft

Listing Notes

Authentic Seaport Loft Beautifully Renovated Full-Floor Residence - Unlimited subletting and no flip tax OPEN HOUSE BY APPOINTMENT ONLY Set on a charming cobblestone block in the heart of Manhattans historic South Street Seaport, this exceptional full-floor loft blends authentic downtown character with a meticulous modern renovation. Spanning 1, 818 square feet (as per OLR measurements, ) the residence offers expansive open living with the flexibility to accommodate two sleeping areas (this property is legally a loft with two full bathrooms and is currently configured with one private and one open bedroom), a home office, and distinct living and dining spaces. A private elevator opens directly into the loft, where original wood-beamed ceilings, exposed brick walls, artisan millwork, and wide plank hardwood floors create a warm and sophisticated atmosphere. A custom steel-and-glass partition introduces an elegant entry sequence while preserving the lofts open scale and natural light. The thoughtfully redesigned chefs kitchen is appointed with premium Miele and Liebherr appliances and refined finishes, seamlessly connecting to the entertaining space. The home features two beautifully renovated full bathrooms, central A/C, washer/dryer as well as a generous walk-in closet and additional basement storage. Located in a boutique cooperative that functions with the ease of a condominium - no flip tax, and unlimited subletting permitted a rare combination in downtown Manhattan. Just outside your door, enjoy the Seaports vibrant waterfront lifestyle, with acclaimed restaurants - Mark Joseph Steakhouse and Osteria del Porto - boutique shopping, the East River Esplanade, weekend greenmarkets, and effortless access to multiple subway lines at the newly renovated Fulton Station. A rare opportunity to own a true downtown loft in one of Manhattans most distinctive neighborhoods.

Market Insights

Below nearby median-23%

$822/sqft vs a nearby median of $1071/sqft.

Nearby median$1071/sqft
Nearby properties8
Property size1,818 sqft
  • -23% versus the nearby median price per square foot.
  • Price history is limited, so current comps matter more than trend alone.
  • 1,818 sqft creates a usable price-per-square-foot read.

Pricing Read

Yardstick fair value$1.92M$1.80M$2.04M · 77% confidence
vs ask $1.50M−$426k (−28.5%)

Asking price is about 28.5% below the fair value — likely to draw competing offers if it's still on market.

$1,051/sqft median across 6 tight comps × 1,818 sqft= $1.91M
  • Pre-war character+$48k +2.5%
  • Special flood hazard zone−$38k −2.0%
  • Transit access+$10k +0.5%
  • Visible condition issues−$10k −0.5%
Cumulative NYC adjustments+$10k+0.5%

Property Read

FreshnessCurrent market data

The listing facts are current enough for an initial property review.

Market Position-23% vs nearby

The asking price per square foot is below the nearby median, which can be worth a closer comp check.

Price MovementInitial price point

Price history is still limited; review again as more market activity becomes available.

Diligence Read3 items to check
AI ReadinessReady to analyze
Assistant read

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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
14 days
Last price change
No change recorded
Listed
Apr 28, 2026
Photos
13 photos
Property type
coop
Status
for sale
Last sold
Aug 10, 2012 · $1,595,000

Features & Amenities

ElevatorLaundry RoomPets AllowedBasementExposed BrickOpen HouseElevatorChefs KitchenWalk In ClosetHardwood FloorsHome OfficeOfficeDenShopping

Photos

Building Facts

Year built
1879
Stories
8
Total units
8
Residential units
7
Building area
18,450 sqft
Lot size
2,196 sqft
Land use
Mixed residential and commercial buildings
Building class
C7

From NYC public records where available.

Price History

May 4, 2026Initial record
$1,495,000for sale

Public Records

DOB violations1 open

18 total recorded against the building

HPD violations1 open

8 total recorded

ACRIS documents51

Tax-lot deed, mortgage, and transfer records on file

311 calls (12 mo)8,121

Top: vendor enforcement

Top complaint types in ZIP 10038

  • Vendor Enforcement1,394
  • Illegal Parking1,365
  • Noise - Residential439
  • Encampment360
  • Noise358

Recent DOB

  • Mar 14, 2025V*-DOB VIOLATION - DISMISSED · LANDMK-LANDMARK NONE
  • Mar 14, 2025V-DOB VIOLATION - ACTIVE · LANDMK-LANDMARK NONE
  • Apr 8, 2021V*-DOB VIOLATION - Resolved · E-ELEVATOR ELEVATORREQUIRED
  • Mar 19, 2020V*-DOB VIOLATION - Resolved · E-ELEVATOR ELEVATORREQUIRED

Recent HPD

  • Apr 29, 2026Class A · (A) § HMC:FILE ANNUAL BEDBUG REPORT IN ACCORDANCE WITH HPD RULE AS DESCRIBED ON THE BACK OF THIS NOTICE OF VIOLATION OR AS DESCRIBED ON HPD S WEBSITE, WWW.NYC.GOV\HPD, SEARCH BE...
  • Mar 15, 2023Class A · (A) § HMC:FILE ANNUAL BEDBUG REPORT IN ACCORDANCE WITH HPD RULE AS DESCRIBED ON THE BACK OF THIS NOTICE OF VIOLATION OR AS DESCRIBED ON HPD S WEBSITE, WWW.NYC.GOV\HPD, SEARCH BE...
  • Nov 3, 2022Class I · §27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITE...
  • Feb 16, 2022Class A · (A) § HMC:FILE ANNUAL BEDBUG REPORT IN ACCORDANCE WITH HPD RULE AS DESCRIBED ON THE BACK OF THIS NOTICE OF VIOLATION OR AS DESCRIBED ON HPD S WEBSITE, WWW.NYC.GOV\HPD, SEARCH BE...

Sourced from NYC Open Data (DOB, HPD, ACRIS). Updated as the city republishes — check the original source for live status.

You can also find this listing on StreetEasy.

Listing data sourced from streeteasy.com. RealtyLens enriches and contextualises it for you, but the original listing lives on the source.