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London Terrace Towers, 405 West 23rd Street, #PHA

$3,990,000 | 2 beds, 2 baths
View Full Building Profile  | 
13 days on Market

Key Details

  • Listed: May 6, 2024
    Days on Market: 13
    Building Type: Cooperative
    Neighborhood: Chelsea (Manhattan)
Monthly Maintenance: $6,313
Est. Monthly Mortgage: $21,430
Total Est. Monthly Carrying Cost: $27,743
Note: the above is based on a down payment of 20% ($798,000), which is the minimum amount permitted by the building.

Insider Highlights

  • Prime Location: This top floor apartment is located in the heart of Chelsea, a vibrant and sought-after neighborhood, with close proximity to Hudson River Park, High Line Park, Chelsea Piers recreation center, and easy access to subway transportation.
  • Stunning Apartment Features: The apartment boasts breathtaking 360-degree views from 4 terraces, soaring 10-foot ceilings, a large wood-burning fireplace with stone facade, and a newly renovated kitchen and bathrooms.
  • Ample Storage: The property offers an abundance of extra-tall closets, basement storage, and two bicycle rooms, ensuring plenty of space for all your storage needs.
  • Comprehensive Maintenance and Amenities: The monthly maintenance fee covers heat, hot water, gas, and electricity. The building amenities include full-time lobby attendants, a half Olympic-sized heated indoor pool, private health club, steam rooms, saunas, roof deck with outdoor shower, and laundry facilities.
  • Flexible Ownership and Subletting Policies: The building allows guarantors and co-purchasing, 80% financing, and unlimited subletting subject to board approval and fee after 1 full year of ownership.
  • Additional Perks: The pet-friendly building is wired for Time Warner Cable and offers a health club, large swimming pool, rooftop deck with lounge chairs and stunning views of NYC for residents.

Description

Nestled on the top floor of the iconic London Terrace Towers, PHA presents an extraordinary opportunity to own a coveted residence in the heart of Chelsea. With its soaring 10-foot ceilings and 4 terraces, this exceptional renovated unit offers breathtaking 360-degree views that bathe the space in natural light, creating an unparalleled living experience. Entering the foyer your first view is of the grand scaled living room living wrapped in 7’ windows, accenting the full-length terrace. Relax or entertain looking at the large wood-burning fireplace with stone facade and handsome mantel in this spectacular room.

The adjacent dining room invites you to the south terrace with views all the way to the Statue of Liberty, which can also be enjoyed while cooking in the newly renovated kitchen. Heading to the north side of the apartment through an oval shape corridor, you will encounter the new renovated guest bath, and the hallway leading to the bedrooms with access to 2 additional terraces. With City lights to the right and views of the London Terrace pristine gardens and block long historic structures, highlighting 10 water towers to the left, the piece de resistance is an unparalleled view of Hudson Yards.

Inside, the room is graced with an abundance of extra-tall closets. From the primary bedroom, you’ll find another iconic city view of the Empire State Building. The ensuite bathroom has also been renovated. The monthly maintenance fee includes heat, hot water, gas, and electricity. London Terrace Towers is composed of four corner buildings occupying both Ninth and Tenth Avenues between West 23rd and West 24th Streets in the heart of West Chelsea.

An impressive array of building amenities includes full-time lobby attendants, a half Olympic-sized heated indoor pool, private health club which offers professional training services, steam rooms, saunas, roof deck with outdoor shower, bike rooms, laundry facilities, and basement storage (subject to availability). A prime Chelsea location puts residents near the Hudson River Park, High Line Park and Chelsea Piers recreation center. It is convenient to the neighborhood’s seemingly endless collection of restaurants, clubs, and art galleries, and has made London Terrace Towers a premier choice for downtown living. Originally completed in 1930, the Towers became a co-operative corporation in 1988.

(The buildings in the middle of the block remained as rental apartments and became known as London Terrace Gardens, which is a separate and independent building.) London Terrace Towers cooperative allows guarantors and co-purchasing, 80% financing, and is pet friendly. Unlimited subletting subject to board approval and fee is allowed after 1 full year of ownership. Flip Tax: 1% Seller; 1% Buyer.

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Apartment Amenities

  • City View
  • Balcony
  • Wood Burning Fireplace
Listing courtesy of Sothebys International Realty

Pricing History

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About London Terrace Towers, 405 West 23rd Street

86

London Terrace Towers, 405 West 23rd Street has received a CityRealty Rating of 86, based on:

 
Architecture

Anything above 30 is remarkable, from 20-29 is distinguished and from 11-19 is average, while below 11 is below average.

 
Location

Anything above 27 is remarkable, from 18-26 is distinguished and from 9-17 is average, while below 9 is below average.

 
Features

Anything above 22 is remarkable, from 16-21 is distinguished and from 9-15 is average, while below 9 is below average.

Rating Summary

29
Out of 44
+
28
Out of 36
+
20
Out of 39
+
9
=
86
Out of 119
 

Architecture Rating: Points Breakdown

Exterior:
Very Distinguished 7 out of 8 points
Retail Quality:
Good 3 out of 5 points
Canopy Entrance:
No Canopy 1 out of 3 points
Alterations:
Well Done 1 out of 2 points
Plaza Or Atrium:
Exists 1 out of 3 points
Contextual Design:
No, but Very Good 3 out of 3 points
Skyline:
Highly Visible 2 out of 2 points
Local Visibility:
Highly Visible 2 out of 2 points
Watertank:
Attractively Enclosed 2 out of 2 points
Airconditioners:
Allowed and Present 0 out of 2 points
Free Standing:
Corner 1 out of 2 points
Gargoyles:
Present 1 out of 2 points
Garden:
Attractive 2 out of 2 points
Fenestration:
Consistent 1 out of 1 points
Landmark:
Part of Historic District 1 out of 2 points
Unity:
Unified Design 1 out of 1 points
Illumination:
None 0 out of 1 points
Water Element:
None 0 out of 1 points

Location Rating: Points Breakdown

Street Ambience:
Attractive / Pleasant 3 out of 5 points
Distance To Neighborhood Center:
Less than 30 blocks 3 out of 5 points
Views:
Dazzling 4 out of 4 points
Neighborhood Ambience:
Very Attractive 3 out of 3 points
Traffic Noise:
Some 2 out of 3 points
Protected Views:
Many 2 out of 2 points
Distance To Subway:
3-5 Short Blocks 1 out of 2 points
Firedepartment Noise:
No Noise 2 out of 2 points
Distance To Supermarket:
3-5 Short Blocks 1 out of 2 points
Distance To Park:
3-6 Short Blocks 1 out of 2 points
Distance To Water:
Less than 3 Short Blocks 2 out of 2 points
Shopping:
5 or less Short Blocks 2 out of 2 points
Schools:
No Noise 1 out of 1 points
Noise From Nightlife:
None 1 out of 1 points

Features Rating: Points Breakdown

Lobby:
Minimal but Attractive 2 out of 5 points
Units Per Floor:
10-15 1 out of 5 points
Ceiling:
8-9 Feet 1 out of 4 points
Balconies:
None 0 out of 3 points
Health Club:
Yes, with Swimming Pool 2 out of 2 points
Private Gardens:
Substantial 2 out of 2 points
Storage Rooms:
Minimal 1 out of 2 points
Bay Windows:
None 0 out of 1 points
Fireplaces:
Some 1 out of 1 points
Door Person:
None 0 out of 1 points
Concierge:
Yes 1 out of 1 points
Elevator Person:
None 0 out of 1 points
Recreational Roof:
Yes 1 out of 1 points
Driveway:
Yes 1 out of 1 points
Maids Room:
Some 1 out of 1 points
Catering:
None 0 out of 1 points
Garage:
Yes 1 out of 1 points
Mixed Use:
Yes 1 out of 1 points
Non Rectilinear Form:
No 0 out of 1 points
Unusual Layouts:
Some 1 out of 1 points
Prewar:
Yes 1 out of 1 points
Other Amenities:
Many 2 out of 2 points

Building Amenities

  • Concierge
  • High-Rise
  • Pre War
  • Full Service Garage
  • Garden
  • Health Club
  • Pool
  • Rooftop Terrace
  • Washer/Dryer in building

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Pros
  • Many good views
  • Sidewalk landscaping
  • Good cross-town bus service
  • Close to Chelsea art galleries
  • Close to Chelsea restaurants
  • Close to Chelsea Piers
  • Roof deck
  • Concierge
  • Garage
  • Central Chelsea location
  • Large swimming pool
  • Close to Subway
Cons
  • Many apartments
  • No balconies
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Subways

  1. C
  2. E
at 8th Ave and 25th 0.19 miles
  1. 1
at 7th Ave 0.36 miles
  1. A
  2. L
at 8th Ave and 16th 0.41 miles

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