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Phase I

Phase I

Phase I
Condominium Building
242 Broome St
New York, NY 10002-3808
The Costar Building Rating

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

60 Units
14 Stories
2018 Year Built
$781K - $15M Value Range

Available Units

For Sale
For Rent

Highlights

  • Concierge
  • P.S. 42 Benjamin Altman Rated A
  • Fitness Center
  • Rooftop Deck
  • City View
  • Game Room

Modern Elegance in the Heart of the Lower East Side

Phase I, designed by SHoP Architects PC, stands as a 14-story testament to contemporary urban living. Completed in 2018, this condominium offers 60 meticulously crafted units, each reflecting a blend of modern design and timeless comfort. The building's geometric facade, characterized by protruding rectangular frames around the windows, adds a distinctive touch to the Lower East Side skyline. Located at the intersection of Broome and Ludlow Streets, Phase I is perfectly positioned to offer residents the vibrant lifestyle of one of New York City's most storied neighborhoods.

Diverse Layouts with Luxurious Finishes

Phase I offers a range of floor plans, from one to three-bedroom layouts, catering to various lifestyle needs. One-bedroom units, ranging from 736 to 1,224 square feet, feature one to two bathrooms and are priced around $1,650,000. These units boast 10-foot ceilings, 7-inch wide-plank white oak floors, and expansive windows that flood the space with natural light. The kitchens are equipped with warm grey walnut cabinetry, polished Calacatta marble countertops, and state-of-the-art Gaggenau appliances, including a five-burner gas cooktop, electric oven, speed oven, refrigerator, freezer, and wine refrigerator. The primary bedrooms offer spacious walk-in closets and luxurious en-suite bathrooms with radiant heated flooring, Alanur honed marble floors, and Duravit polished chrome fixtures. Two-bedroom units, ranging from 1,225 to 2,111 square feet, feature two to two and a half bathrooms and are available for rent around $11,000 per month. These residences include similar high-end finishes and appliances, with additional space for entertaining and living. The open-concept living and dining areas are perfect for hosting gatherings, while the secondary bedrooms provide ample closet space and en-suite bathrooms with honed marble floors and tiled wet walls. The three-bedroom units, the largest of which spans 2,478 square feet, offer three and a half bathrooms and are designed for those seeking expansive living spaces. These units feature all the luxurious finishes found in the smaller layouts, with the added benefit of more extensive living and dining areas, perfect for larger families or those who love to entertain. The views from these units are particularly noteworthy, offering unobstructed vistas of the downtown skyline and the East River.

Comprehensive Amenities for a Modern Lifestyle

Phase I provides an extensive array of amenities designed to enhance the lifestyle of its residents. The building features a fitness center with changing areas, ensuring that residents can maintain their fitness routines without leaving the premises. An entertainment lounge with a kitchen and flex space with billiards offers a perfect setting for social gatherings and relaxation. The beautifully landscaped rooftop terrace, complete with outdoor dining areas, provides a serene escape with stunning views of the city. For families, the children's playroom offers a safe and engaging space for younger residents. The building also includes essential conveniences such as 24-hour access, air conditioning, dishwashers, disposals, and in-unit washer/dryers. Security and service are paramount, with a 24-hour doorman/concierge and a dedicated building manager ensuring that all resident needs are promptly addressed. Additional amenities include storage space, elevators, and maintenance on-site, making Phase I a truly comprehensive living experience.

Vibrant and Historic Lower East Side

The Lower East Side, or LES, is a dynamic neighborhood known for its rich immigrant history and creative energy. The area is a hub for eclectic eateries and alternative bars, with a thriving nightlife scene that stretches from Stanton Street to Dimes Square. Residents of Phase I are just steps away from some of the city's most beloved spots, including the Essex Market and the Market Line, a sprawling marketplace featuring over 100 locally sourced food, art, music, and fashion vendors. For dining, options abound with renowned establishments like Russ & Daughters Cafe, Wildair, and Contra. The neighborhood also offers a variety of parks and green spaces, such as Sara D. Roosevelt Park and Seward Park, providing ample opportunities for outdoor activities. Cultural attractions like the International Center for Photography and the Tenement Museum celebrate the area's rich heritage and artistic spirit. Shopping is convenient with nearby stores like Target and Trader Joe's, while the recently opened Essex Market and Crossing development adds a European-style food hall to the mix. The Lower East Side's unique blend of history, culture, and modern amenities makes it an ideal location for those seeking a vibrant urban lifestyle.

Exceptional Connectivity and Accessibility

Phase I offers unparalleled access to New York City's extensive transportation network. The Essex Street subway station, served by the J, M, and Z lines, and the Delancey Street station, served by the F line, are both less than a five-minute walk from the building. Additionally, the Grand Street station, served by the B and D lines, is just a short walk away, providing residents with multiple options for commuting and exploring the city. For those who travel frequently, the building is conveniently located near major airports, including LaGuardia, Newark Liberty International, and John F. Kennedy International, all within a 20 to 30-minute drive. The proximity to the Williamsburg and Manhattan bridges also offers easy access for cars and bikes, while the Franklin D. Roosevelt Drive highway runs between LES and the East River, providing multiple access points for drivers. With a perfect walk score, transit score, and bike score, Phase I ensures that residents can easily navigate the city, whether by foot, bike, or public transit. The building's prime location and excellent connectivity make it an ideal choice for those seeking convenience and accessibility in the heart of New York City.

Available Condos

No units matching this criteria are available right now.

Building Details

Recreation

  • Fitness Center

Amenities

  • City Views
  • Concierge
  • Doorman
  • Rooftop Deck
  • Game Room
  • Children's Playroom
  • Community Storage Space
  • 24 Hour Access

Condo Association

  • $2,926 Monthly HOA Fees
  • Monthly HOA Fees Range from $2,477 - $2,936
  • Essex Crossing Condos
  • Lower Eastside Subdivision
  • On-Site Maintenance

Building Design

  • High-Rise Condominium
  • Elevator

Unit Features

  • Laundry in unit
  • Washer Hookup

Unit Information

Unit
6C
7C
Beds
1 Bed
2 Beds
Baths
1.5 Baths
2.5 Baths
Sq Ft
1,005
1,376
Price
$2,250,000
$2,495,000
Price / Sq Ft
$2,239 / Sq Ft
$1,813 / Sq Ft
List Date
03/14/2025
03/18/2025

Unit Size and Value Ranges

Studio Units
Sq Ft Range
None Available
Est. Values
$780,561 - $15,277,188
1 Bedroom Units
Sq Ft Range
763 - 1,179
Est. Values
None Available
2 Bedroom Units
Sq Ft Range
1,226 - 1,376
Est. Values
None Available
All Units
Sq Ft Range
763 - 1,376
Est. Values
$780,561 - $15,277,188

Map

Area Factors

Low Crime

Crime Score®

4 / 10

Biker's Paradise

Bike Score®

97 / 100

Walker's Paradise

Walk Score®

100 / 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®

55 / 100

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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 And Area

See Area Agents

Property Taxes

Range in Assessed Values
$112K - $6.2M
Range of Taxes in Building
$3,676 - $244,275
Range of Taxes per Sq Ft
$5.82 - $14.17

Property Tax History

Source: Public Records

Similar Condominium Buildings

Building Website

Building Team

Developer
Taconic Partners
Architect
SHoP Architects PC
Property Management
Halstead - 242 Broome
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.