One Manhattan Square
Address
252 South Street, New York, NY 10002
Price Range
$1,095,000 – $6,450,000
Bedrooms
1-3 BR
Completion
2019
Developer: Extell Development Company811 unitsLower East Side, Manhattan
E-2 EligibleEB-5 EligibleH-1B EligibleL-1 EligibleAny Eligible
Waterfront Luxury on the Lower East Side
One Manhattan Square is a striking 72-story glass tower on the Lower East Side waterfront, developed by Extell Development Company. With 811 residences and over 100,000 square feet of amenities, it represents one of the most comprehensive luxury living experiences in downtown Manhattan, offering panoramic views of the East River, Brooklyn Bridge, and the city skyline.
Residences
The tower offers one to three-bedroom residences, ranging from 688 to over 2,300 square feet. Interiors are designed by Meyer Davis Studio, featuring open floor plans, oversized windows, wide-plank oak flooring, chef's kitchens with stone countertops and Bosch appliances, and spa-like bathrooms. Select units include private terraces with river views.
Amenities
The 100,000-square-foot amenity suite is among the largest in New York City. It includes indoor and outdoor swimming pools, a state-of-the-art fitness center, bowling alley, golf simulator, full-size basketball court, screening room, children's playroom, teen lounge, coworking spaces, and a landscaped garden with outdoor dining areas. A 24-hour concierge and doorman provide full-service living.
Location
Situated at the convergence of the Lower East Side, Chinatown, and the Financial District, One Manhattan Square provides easy access to some of NYC's most vibrant neighborhoods. The East River waterfront esplanade is at your doorstep, and the building is served by the F, J, M, and Z subway lines. The NYC Ferry is also accessible nearby.
Investment Perspective
One Manhattan Square offers an attractive entry point into Manhattan luxury real estate with units starting just above $1 million. The LES location provides strong rental demand from young professionals and the 25-year tax abatement significantly reduces carrying costs, making it particularly attractive for foreign investors seeking both personal use and rental income.
Estimated Monthly Costs
$2,200
Property Tax
$1,800
HOA / Common Charges
$450
Insurance
Amenities
100,000-sf Amenity SuiteIndoor & Outdoor PoolsFitness CenterBowling AlleyGolf SimulatorBasketball CourtScreening RoomChildren's PlayroomCoworking SpaceConciergeParkingDoorman
Information for International Buyers
Purchasing as a Foreign Buyer
Foreign nationals can purchase property in New York City with no restrictions on ownership. Unlike some countries, the U.S. does not require citizenship or residency to own real estate. Purchases can be made in a personal name, through an LLC, or via a foreign corporation.
Financing is available for foreign buyers, though terms typically require a 30-50% down payment and may carry higher interest rates than for U.S. residents. Several banks in NYC specialize in foreign national mortgages and accept alternative documentation.
Key considerations include FIRPTA withholding tax (15% of sale price held at closing, refundable if no tax is owed), potential estate tax exposure for non-resident aliens (federal exemption of only $60,000), and annual property tax obligations. We recommend working with a CPA and attorney experienced in cross-border real estate transactions.
Interested in One Manhattan Square?
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