--- title: "405 West 23rd Street #PHAB, New York City, NY 10011" description: "405 West 23rd Street #PHAB, New York City, NY 10011 — Chelsea, New York City, NY. Listing Price $12,900,000. 4 bed, 5 bath Illustrative Buyer Commission Share of $193,500 at closing, based on a 3% buyer-broker commission." url: "https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10011/405-west-23rd-street-phab-PHAB-ny-10011" source: "Real Estate Rebate Team" status: "Active" --- # 405 West 23rd Street #PHAB, New York City, NY 10011 Chelsea, New York City, NY Courtesy of Sothebys International Realty ## At a Glance - **Listing Price**: $12,900,000 - **Beds**: 4 - **Total Baths**: 5 - **Common Charges**: $14,736 / mo - **Brokerage Fee**: Share Eligible ## The Private Brokerage Advantage As an independent luxury buyer representative, Régis shares 50% of the buyer-side commission he actually receives on your purchase. Eligible buyers receive that Buyer Commission Share directly at closing to offset closing costs, down payments, or renovations. The figures below are illustrative, based on a **3% buyer-broker commission**; your share follows the commission offered on the transaction. - **Contract Purchase Price**: $12,900,000 - **Illustrative Buyer Commission Share**: -$193,500* - **Illustrative Net Cost**: $12,706,500 *Illustrative Buyer Savings of $193,500 — 50% of a 3% buyer-broker commission, shared at closing.* [Request a private tour](https://realestaterebatesnewyork.com/contact) · [Estimate your Buyer Commission Share](https://realestaterebatesnewyork.com/calculators/buyer-closing-cost-calculator) ## Photos (10) ![405 West 23rd Street #PHAB, New York City, NY 10011 — photo 1 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/9611c4b7-fbc7-4e7f-a5b6-929d71439c57.jpg) ![405 West 23rd Street #PHAB, New York City, NY 10011 — photo 2 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/4b8868bb-d71c-4c36-b32d-f91c299d2cf6.jpg) ![405 West 23rd Street #PHAB, New York City, NY 10011 — photo 3 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/4bce45df-3c2b-4108-ae49-f57ee6a0d971.jpg) ![405 West 23rd Street #PHAB, New York City, NY 10011 — photo 4 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/5ecbf535-b6c4-43d1-8efb-ce46bcd383ae.jpg) ![405 West 23rd Street #PHAB, New York City, NY 10011 — photo 5 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/a7c03d6b-9248-4f36-a755-a0ee6c48319b.jpg) ![405 West 23rd Street #PHAB, New York City, NY 10011 — photo 6 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/e9981477-f44e-4d3f-ada2-ac5f01b38e61.jpg) ![405 West 23rd Street #PHAB, New York City, NY 10011 — photo 7 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/f05c57a5-f1a4-44e5-b17e-1019ee0b61c7.jpg) ![405 West 23rd Street #PHAB, New York City, NY 10011 — photo 8 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/1b2c6fbc-6b0b-494b-b70a-06c369c8a26a.jpg) ![405 West 23rd Street #PHAB, New York City, NY 10011 — photo 9 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/39e422a4-187e-4fd5-b51f-33152e507fdf.jpg) ![405 West 23rd Street #PHAB, New York City, NY 10011 — photo 10 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/a3bdbffc-429f-42f1-80f4-5533519e3406.jpg) ## Property Overview Presenting a truly once-in-a-generation opportunity to create an extraordinary full-floor penthouse residence atop the iconic London Terrace Towers. Offered together, Penthouse A and Penthouse B provide a rare full-floor presence and the opportunity to seamlessly combine two exceptional homes into a bespoke 4+ bedroom penthouse oasis, crowned by expansive wraparound terraces with breathtaking 360-degree skyline views, subject to review by the purchaser’s architect and Board approval. Rarely does a residence of this scale become available, offering the coveted combination of full-floor privacy, exceptional outdoor living, and panoramic exposures in one of Chelsea’s most iconic prewar buildings. The combined offering allows for the creation of a grand-scale home that is both elegant and highly functional, with the privacy and exclusivity typically reserved for the city’s finest penthouses. Alternatively, the residences may remain separate, preserving two beautifully appointed two-bedroom, two-bathroom penthouses ideal for guests, extended family, live-work flexibility, or any lifestyle that benefits from privacy while maintaining close connection. Designed by the renowned architectural firm Farrar & Watmough and completed in 1930, London Terrace Towers stands among Chelsea’s most distinguished prewar cooperatives. Residents enjoy an exceptional collection of amenities, including a state-of-the-art fitness center, heated indoor swimming pool, sauna, steam room, beautifully landscaped private gardens, rooftop deck, bicycle storage, laundry facilities, and an on-site parking garage. Perfectly positioned alongside the High Line and moments from Chelsea’s celebrated galleries, acclaimed dining destinations, cultural institutions, and vibrant theater scene, this remarkable offering presents a rare opportunity to craft a trophy penthouse residence defined by iconic views, expansive outdoor living, full-floor privacy, architectural pedigree, and limitless potential. Penthouse A is available exclusively in conjunction with Penthouse B and is not being offered separately. ## Property Details - **Property Type**: Co-op - **Beds**: 4 - **Total Baths**: 5 - **Rooms**: 9 - **Stories**: 21 - **Year Built**: 1930 - **Common Charges**: $14,736 / Monthly - **Listed On**: Jun 26, 2026 - **Days on Market**: 82 Days ### Residence Features - Central Air - Common On Floor - In Unit - Building Garden - Building Roof Deck - Private Outdoor Space Over 60 Sqft - Entrance Foyer - Elevator - Kitchen Window - Dryer - Washer/Dryer Stacked - Dishwasher - Washer - Hardwood - City ## Sales Evidence ### Recent closed sales 45 apartments at London Terrace Towers have recorded sales since September 2021, the most recent for $1,100,000 in June 2026. Prices are the figures recorded with the City, not asking prices. | Unit | Beds | Sq Ft | Sold Price | $/ft² | Sold | Source | | --- | --- | --- | --- | --- | --- | --- | | 4E (Apartment) | 1 | 865 | $1,100,000 | $1,272/ft² | June 18, 2026 | MLS | | 9J (Apartment) | 1 | — | $1,180,000 | — | June 16, 2026 | City record · MLS | | 2C (Apartment) | 2 | — | $1,385,000 | — | June 4, 2026 | City record · MLS | | 19C (Apartment) | — | — | $675,000 | — | May 4, 2026 | City record | | 5H (Apartment) | 1 | 500 | $895,000 | $1,790/ft² | April 27, 2026 | City record · MLS | | 9I (Apartment) | Studio | — | $629,000 | — | April 14, 2026 | City record · MLS | | 7GJ (Apartment) | 2 | — | $2,350,000 | — | March 2, 2026 | City record · MLS | | 14I (Apartment) | — | — | $550,000 | — | February 12, 2026 | City record | | 6A (Apartment) | 1 | 900 | $995,000 | $1,106/ft² | January 6, 2026 | City record · MLS | | 19B (Apartment) | — | — | $2,500,000 | — | December 18, 2025 | City record | | 4F (Apartment) | Studio | 475 | $442,500 | $932/ft² | December 16, 2025 | City record · MLS | | 16C (Apartment) | — | — | $1,855,527 | — | September 15, 2025 | City record | | 12I (Apartment) | — | — | $961,672 | — | June 9, 2025 | City record | | 19D (Apartment) | — | — | $1,347,060 | — | May 21, 2025 | City record | | 10F (Apartment) | — | — | $555,383 | — | May 16, 2025 | City record | | 16H (Apartment) | 1 | — | $960,000 | — | March 4, 2025 | City record · MLS | | 11I (Apartment) | — | — | $964,772 | — | January 14, 2025 | City record | | 12G (Apartment) | 1 | 850 | $1,212,000 | $1,426/ft² | November 15, 2024 | City record · MLS | | 6J (Apartment) | 1 | 875 | $858,500 | $981/ft² | June 4, 2024 | City record · MLS | | 2D (Apartment) | — | — | $913,757 | — | June 4, 2024 | City record | | PHA (Apartment) | 3 | — | $9,296,000 | — | December 6, 2023 | City record · MLS | | 18B (Apartment) | — | — | $3,850,000 | — | October 18, 2023 | City record | | 1A (Apartment) | Studio | 675 | $550,000 | $815/ft² | September 27, 2023 | City record · MLS | | 4A (Apartment) | 1 | — | $975,000 | — | September 6, 2023 | City record · MLS | | 2I (Apartment) | — | — | $947,199 | — | August 9, 2023 | City record | | 9A (Apartment) | 1 | 895 | $1,102,500 | $1,232/ft² | August 2, 2023 | City record · MLS | | 8E (Apartment) | — | — | $903,748 | — | July 14, 2023 | City record | | 11-F (Apartment) | Studio | — | $515,000 | — | April 17, 2023 | City record · MLS | | 10A (Apartment) | 1 | 900 | $1,125,000 | $1,250/ft² | February 9, 2023 | City record · MLS | | 18A (Apartment) | 2 | — | $1,612,500 | — | February 8, 2023 | City record · MLS | | 6H (Apartment) | 1 | — | $990,000 | — | February 6, 2023 | City record · MLS | | 11B (Apartment) | — | — | $1,425,000 | — | January 11, 2023 | City record | | 10E (Apartment) | Studio | — | $1,250,000 | — | November 17, 2022 | City record · MLS | | 8HI (Apartment) | 3 | 1,750 | $2,775,000 | $1,586/ft² | November 8, 2022 | City record · MLS | | 2H (Apartment) | 1 | 875 | $975,000 | $1,114/ft² | October 25, 2022 | City record · MLS | | 3F (Apartment) | — | — | $440,000 | — | May 23, 2022 | City record | | 3F (Apartment) | — | — | $304,753 | — | February 8, 2022 | City record | | 14I (Apartment) | 1 | — | $1,100,000 | — | January 31, 2022 | MLS | | 9J (Apartment) | 1 | — | $1,250,000 | — | January 25, 2022 | City record · MLS | | 12-G (Loft) | 1 | 850 | $1,165,000 | $1,371/ft² | January 21, 2022 | City record · MLS | Showing the 40 most recent of 45 recorded sales in this period. Every row is a recorded transaction, including ancillary spaces such as storage and staff rooms where they were sold separately. Those are excluded from the benchmark below. ### How this price compares The median closed price for comparable co-op four-bedroom sales in Chelsea is $2,999,999, based on 3 sales between September 2025 and March 2026. This home is asking $12,900,000, $9,900,001 above that median. The middle half of those sales closed between $2,432,500 and $4,300,000. - **Median closed price**: $2,999,999 - **Middle half**: $2,432,500 – $4,300,000 - **Based on**: 3 co-op four-bedroom sales in Chelsea - **Period**: September 2025 – March 2026 Square footage is recorded for only 2 of these 3 sales (67%), so no price per square foot is shown for this group. Co-op sales rarely carry a floor area, and a figure drawn from a handful of them would not describe the rest. Across the 3 of these sales with a published asking price, the median closed at 93.4% of what it originally asked. 100% of them closed below the original ask. This building has not had enough comparable sales of its own in the period to support a median, so the benchmark is drawn from Chelsea instead. ### How these sales were negotiated - **Sold vs original ask**: 93.4% of the original ask - **Closed below ask**: 100% of 3 sales - **Listed → in contract**: 42 days (about 6 weeks) - **In contract → closed**: 81 days (about 12 weeks) Across the 3 of these sales with a published asking price, the median closed at 93.4% of what it originally asked. 100% of them closed below the original ask. Half of these homes were in contract within 42 days (about 6 weeks) of coming to market, based on the 3 with a recorded listing date. Once a deal was agreed, closing took a further 81 days (about 12 weeks), based on the 3 with both dates recorded. A co-op board package and its interview account for much of that. These are two separate periods measured on different clocks — time to find a buyer, and time from agreed deal to closing. They are medians of different sets of sales and do not add together into a single "days on market" figure. Based on 3 co-op four-bedroom sales in Chelsea, September 2025 – March 2026. Each figure counts only the sales that recorded the dates it needs, which is why the denominators differ. Sale prices are the consideration recorded with the City in ACRIS, and each sale is dated by the day the City recorded it. A closing date reported to the MLS typically falls one to two weeks earlier. Recorded sales describe what has already happened and are not an appraisal, a valuation, or an estimate of what this home will sell for. [See every recorded sale at London Terrace Towers](https://realestaterebatesnewyork.com/buildings/new-york-city/manhattan/london-terrace-towers) ## About The Building ### London Terrace Towers Chelsea · Stock Cooperative 470 West 24th Street, New York, NY 10011 A building in Chelsea, currently featuring 7 active listings. - **Year Built**: 1930 - **Total Units**: 7 - **Floors**: 21 [View the building page](https://realestaterebatesnewyork.com/buildings/new-york-city/manhattan/london-terrace-towers) ### Available Residences — For Sale (7) | Unit | Beds | Baths | Size | Price / Ft² | Price | Listing Office | Listed Date | Days on Market | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | [PHAB](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10011/405-west-23rd-street-phab-PHAB-ny-10011) | 4 | 5 | — | — | $12,900,000 | Sothebys International Realty | Jun 26, 2026 | 82 days | | [2G](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10011/465-west-23rd-street-g-2G-ny-10011) | Studio | 1 | — | — | $540,000 (-1.6%) | Compass | Mar 9, 2026 | 191 days | | [10A](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10011/465-west-23rd-street-a-10A-ny-10011) | 1 | 1 | — | — | $899,000 — In contract | Compass | Mar 13, 2026 | 187 days | | [19A](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10011/410-west-24th-street-a-19A-ny-10011) | 2 | 2 | — | — | $2,500,000 | Compass | Mar 30, 2026 | 170 days | | [6B](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10011/410-west-24th-street-b-6B-ny-10011) | Studio | 1 | 523 sqft | $1,050 | $549,000 (-8.5%) | Compass | May 15, 2026 | 124 days | | [PHB](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10011/405-west-23rd-street-phb-PHB-ny-10011) | 2 | 3 | — | — | $8,950,000 | Sothebys International Realty | Jun 24, 2026 | 84 days | | [2-G](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10011/470-west-24th-street-2g-ny-10011) | 1 | 1 | 850 sqft | $1,053 | $895,000 — In contract | Find Properties | Jun 5, 2026 | 103 days | ## Estimated Monthly Payment **$79,965 / month**, assuming a 20% down payment ($2,580,000), a 6.5% interest rate and a 30-year term. The page's calculator lets a buyer change all three. - **Principal & Interest**: $65,229 - **Common Charges**: $14,736 Estimates only. Actual payments may vary. Confirm terms with your lender. ## Potential NYC Second-Home Tax This property may be subject to New York City’s non-primary residence surcharge if it is not used as a qualifying primary residence. The surcharge is based on the NYC Department of Finance market value, not the listing price. [Estimate the Potential Surcharge](https://realestaterebatesnewyork.com/calculators/nyc-second-home-tax-calculator) ## Chelsea Art Galleries & High Line Living [Explore Chelsea](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/chelsea) · [All Neighborhoods](https://realestaterebatesnewyork.com/neighborhoods) ### Nearby Chelsea - [Flatiron District real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/flatiron-district) - [West Village real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/west-village) - [Greenwich Village real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/greenwich-village) - [Gramercy real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/gramercy) - [Hells Kitchen real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/hells-kitchen) - [Theater District real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/theater-district) ## Related Links - [London Terrace Towers — building page](https://realestaterebatesnewyork.com/buildings/new-york-city/manhattan/london-terrace-towers) - [Chelsea neighborhood guide](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/chelsea) - [Estimate your Buyer Commission Share and closing costs](https://realestaterebatesnewyork.com/calculators/buyer-closing-cost-calculator) - [Contact Régis Roumila](https://realestaterebatesnewyork.com/contact) --- > RLS IDX Data display by Real Estate Rebate Team. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. > All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and the number of bedrooms listed is for informational purposes and is not a legal conclusion. Please consult with your own architect or engineer for exact dimensions and legal specifications.