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5 Franklin Place

5 Franklin Place

5 Franklin Place
Condominium Building Complex
The Costar Building Rating

A rating for the building relative to other buildings of the same type throughout the country. Learn more

371 Broadway,
New York, NY 10013-3947
51 Units
19 Stories
1920 Year Built
$1.4M - $7.2M Value Range

Available Units

For Sale
For Rent
No Units Available

Highlights

  • Concierge
  • P.S. 397 Spruce Street School Rated A
  • Community Cabanas
  • Rooftop Deck
  • City View
  • 4 min walk to Collect Pond Park

Modern boutique condo that nods to Tribeca’s cast-iron architecture

This modernist, boutique condo with its black grid-and-glass facade and cantilevered top by architectural firm ODA is vastly different from the original vision, conceived by Dutch architect Ben van Berkel of UNStudio. His innovative design involved concealed balconies in an optical illusion worthy of M.C. Escher. A 2008 press release for the project elaborated on this concept: "The building will be wrapped in an optically dazzling, constantly shifting pattern of horizontal black metal bands sewn onto its form the way decorative seams and pleats are sewn onto a luxurious couture garment.” Unfortunately, that project never came to fruition, a victim of the 2008 housing market crash. The current 20-story iteration, a new build completed in 2015, need not worry about making architect Frank Gehry squirm, as the New York Times wrote of the old design in 2011, but it did borrow the idea of nodding to Tribeca’s cast-iron architectural past with its bold black framing. And the resulting end product is still good enough to attract celebrity tenants like basketball sportscaster Marv Albert.

Andrew Escobar designed the all-white interiors

Like the facade, van Berkel also had grand design-forward plans for interiors that involved floating kitchen islands, curved walls and circular sliding doors. ODA’s realized project is more conventional, but still luxurious with high-end finishes designed by Andrew Escobar. All of the 53 loft-like units were designed like blank slates with all-white kitchens and baths and wide-plank oak floors. Open kitchens are uniform with Calacatta marble counters, backsplashes and islands, Poggenpohl cabinets, Bosch appliances and Sub-Zero refrigerators. White marble continues in all of the bathrooms, where fixtures from Waterworks elevate the experience. Some bathrooms also contain heated floors, dual vanities and separate shower stalls and soaking tubs. Central air, stacked washers and dryers, generous closets, 9.5-foot ceilings and oversized windows can be expected at all price points. The largest units on the top floors include private elevators, laundry rooms, multiple terraces and two levels with walls of windows to match. Some even offer Manhattan skyline views of the Empire State Building and Hudson Yards. But all apartments are on the larger side, starting with 812-square-foot lofts and maxing out at 3,200 square feet spread across a four-bedroom penthouse. Prices start around $1.3 million and have reached $8.5 million for that massive penthouse.

Hotel-worthy amenities include a rooftop pool

From the two-story, fully staffed lobby to the rooftop pool, this boutique condo feels more like a boutique hotel. This sense starts with a sculpture of towering gold crowns in front of the building, after which residents pass through a double-height glass facade into the dramatic lobby. It’s impossible to miss the black-and-white marble concierge desk with its marble slab wall, which mimics the look of wood and reaches the ceiling. This setup complements the floor-to-ceiling bookshelves along the side, where seating is arranged in front of a fireplace. In nice weather, the heated rooftop pool beckons with cabanas, lounge chairs and a grill. The fitness center isn’t just bright and airy, but also outfitted with the latest equipment and a lounge area in front of a living green wall. Greenery continues into the inviting playroom, where a replica full-size tree looms over black-and-white-checkered floors and stretches toward a blue ceiling. Beyond the common spaces, some apartments come with deeded storage units, while a select few can buy a parking spot in the automated garage that connects to the lobby. Another differentiator is the condo’s location on Franklin Place, a privately owned stone street. This alley dates back to at least the 1800s, when manufacturing lofts used to line this stretch well worn by horse carriages. In fact, Franklin Place is one of the few streets left in the city with Belgian stones instead of cobblestones, which differ slightly in appearance and are more slippery when it rains.

Trendy Tribeca location near Hudson River Park

Like Franklin Place, many of the surrounding buildings are equally historic with neoclassical cast iron architecture. This former warehouse district is now a trendy, affluent downtown neighborhood favored by everyone from families to celebrities. While the main entrance is on Franklin Place, the condo is hugged by Franklin and White streets and Broadway, providing quick access to hip dining, art galleries and coffee shops. Destination spots that draw people from all over include Aire Ancient Baths, a moodily lit underground bathhouse just down the block that’s filled with pools inspired by ancient Rome. The legendary Odeon bistro is a few blocks south, part of the city’s fabric since it opened in the 1980s. Bubby’s comfort food is another enduring favorite, as is the two-Michelin-starred Atera for its New American tasting menu. Meanwhile, boutique shops dominate here, with niche options like Balloon Saloon for one-of-a-kind creations to The Mysterious Bookshop for mystery/crime/spy books galore. Hudson River Park and its path is a popular option to exercise more than one’s wallet, plus piers filled everything from a playground to a skate park. For practicalities, food shopping options include the specialty Gourmet Garage around the corner. Whole Foods is a 15-minute walk, but groceries can be delivered.

Canal Street transportation hub offers many subway lines

This is a good location for subways, with numerous lines within a few blocks. Thanks to the Canal Street hub many lines connect here, including the 6, J, Z N, R, Q, W, A, C, E trains, plus the local 1 at Franklin Street. Those with cars can jump onto the West Side Highway and are close to the Holland Tunnel to New Jersey. A short trip across town reaches the Brooklyn and Manhattan bridges and FDR Drive along the east side.

Available Units

No units matching this criteria are available right now.

Building Details

Recreation

  • Community Playground
  • Community Cabanas
  • Indoor Pool
  • Community Pool

Outdoor Features

  • Courtyard

Amenities

  • City Views
  • Concierge
  • Rooftop Deck
  • Public Transportation
  • Children's Playroom
  • Resident Manager or Management On Site
  • 24 Hour Access

Parking

  • Garage

Condo Association

  • $3,676 Monthly HOA Fees
  • Monthly HOA Fees Range from $1,200 - $3,676
  • Five Franklin Place Condos
  • Tribeca Subdivision

Building Design

  • High-Rise Condominium

Unit Features

  • Laundry in unit
  • Washer Hookup

Unit Information By Building

Unit
2C
3A
Beds
--
3 Beds
Baths
1 Bath
3.5 Baths
Sq Ft
720
1,967
Price
$1,225,000
$3,150,000
Price / Sq Ft
$1,701 / Sq Ft
$1,601 / Sq Ft
List Date
03/13/2025
04/15/2025

Unit Size and Value Ranges

Studio Units
Sq Ft Range
None Available
Est. Values
$1,369,008 - $7,153,846
1 Bedroom Units
Sq Ft Range
756
Est. Values
$1,856,106 - $2,196,957
2 Bedroom Units
Sq Ft Range
1,412 - 1,780
Est. Values
$2,563,886
3 Bedroom Units
Sq Ft Range
1,724 - 2,264
Est. Values
None Available
4 Bedroom Units
Sq Ft Range
4,064
Est. Values
None Available
All Units
Sq Ft Range
756 - 4,064
Est. Values
$1,369,008 - $7,153,846

Map

Area Factors

Low Crime

Crime Score®

4 / 10

Biker's Paradise

Bike Score®

92 / 100

Walker's Paradise

Walk Score®

99 / 100

Rider's Paradise

Transit Score®

100 / 100
Sources: WhatIsMyCrimeRisk.com, Walk Score
Sources: WhatIsMyCrimeRisk.com, Walk Score

WhatIsMyCrimeRisk.com, Powered by CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks. Walk Score® measures the walkability of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.

Environmental Factors

Busy

Sound Score®

60 / 100

--

Air Pollution®

N/A / 10

--

Flood Factor®

N/A / 10

--

Fire Factor®

N/A / 10

--

Heat Factor®

N/A / 10

--

Wind Factor®

N/A / 10
Source: First Street, How Loud
Sources: First Street, How Loud

Sound Score® measures the noise level of any address. Environmental risk data is provided by First Street Foundation® and is designed to approximate risk and not intended to include all possible scenarios.

Parks in this Area

Schools

Source:
GreatSchools: The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process. View GreatSchools Rating Methodology
Disclaimer: Please note that this building may not be in these schools' attendance zones.

Agents Active in this Building

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Property Taxes

Range in Assessed Values
$165K - $890K
Range of Taxes in Building
$20,637 - $111,266
Range of Taxes per Sq Ft
$13.55 - $30.90

Property Tax History

Source: Public Records

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Building Team

Developer
Elad Group
Architect
Office for Design & Architecture
Property Management
Elad Group
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed and should be independently verified.