Luxury co-op conversion with a ground lease and affordable housing units
In the 1800s, few people willingly relocated to Roosevelt Island. Back then, it was a remote outpost where convicts, the mentally ill and infectious disease patients were shipped off and out of sight. Social reforms eventually shut down these facilities, with residential housing beginning in the late 1960s. Roosevelt Island is technically part of Manhattan, though this two-mile sliver of land, populated with high-rises and ample green space, rests between Manhattan and Queens.
Westview is among the former Mitchell-Lama buildings that popped up on Roosevelt Island in the 1970s, which served as affordable rentals. This one dates back to 1975. The 19-story brick structure, whose style has been compared to East Berlin architecture, became luxury co-ops in 2021. The prices are less than a new conversion on the Upper East Side, on the other side of the East River, plus there are desirable amenities like an indoor pool and full-time door attendant. Staying true to its Mitchell Lama roots, the Westview reserved some units as affordable housing for those that meet the income restrictions to buy. The one catch is that the co-op, like all buildings on Roosevelt Island, is a ground-lease structure. This means that the building doesn’t own the land underneath it, which poses a number of risks for buyers in terms of getting a mortgage or resale value. Westview’s ground lease ends in 2068.
Large spaces with high-end finishes and East River views
Thanks to a total makeover, the 361 apartments are more attractive than the exterior implies. These include all-white chef’s kitchens with quartzite islands, white-and-grey tile backsplashes, custom cabinets, Viking appliances and dishwashers. Bathrooms are outfitted with marble, porcelain and Kohler fixtures. There are also oak floors, floor-to-ceiling windows in living rooms, insulated windows, through-wall air-conditioners, large rooms, high ceilings and walk-in closets. Quite a few have a Bosch washer/dryer, outdoor space and spectacular views of the Manhattan skyline and the East River. Of note, the affordable housing units have not received the same high-end renovations as market-rate homes.
Floorplans range from 423-square-foot studios to 1,800-square-foot three-bedrooms, along with duplex apartments. Two-bedrooms include two full baths, while some three-bedrooms include two and a half. Late 2024 listings included a one-bedroom for $650,000 and a two-bedroom for $935,000. Earlier in the year, a three-bedroom sold for $2 million, making it the most expensive sale at Westview. On the other end, an income-restricted one-bedroom listed for $468,000 in late 2024.
Waterfront living with an indoor pool, fitness center and 24/7 doorman
As a full-service building, amenities include a full-time door attendant, two laundry rooms, a resident lounge, children’s playroom, a bike room and an expansive lawn. Bonus amenities include the large indoor pool and fitness center, which are undergoing a complete refresh.
Residential enclave that’s close to the action of Manhattan and Queens
Roosevelt Island feels far removed from the city with a small-town feel. It’s a green pocket surrounded by water and views that never feels overrun with people since it isn't heavily touristed by either out-of-towners or locals from other parts of the city.
It has a grim past, once housing a prison, a smallpox hospital and a notorious mental institution in the 1800s. Some remnants of the past remain: the ruins of the smallpox hospital still stand on the southern end, while the infamous mental asylum has been transformed into luxury rentals called the Octagon. Newer development has encompassed the Graduate by Hilton New York Hotel and a graduate research campus for Cornell Tech. However, the island is mostly residential and local business growth has been slow, with a smattering concentrated along Main Street near the F train, including a Duane Reade and Starbucks. Many residents rely on deliveries or travel to other neighborhoods for certain essentials or leisure.
A handful of businesses are closer to Westview, including a deli, casual restaurants and a liquor store. Residents will also find a playground and ball field across the way, and a Foodtown and nursery school are within walking distance along well-maintained sidewalks. Beyond, a lighthouse and popular picnic area are located on the northern tip, with the Franklin D. Roosevelt Four Freedoms Park at the opposite end, a wide car-free promenade for cycling or running circles the island.
F train, tram, buses and ferry options
The F train is about a 10-minute walk from Westview and stops at the southern end; it reaches Midtown in less than 10 minutes, while the Upper East Side is only one stop away. The tram is just past the train, and provides a short, scenic ride to 59th and Second for the same cost as a subway ride. It runs about every 10 minutes seven days a week between 6 a.m. and 3:30 a.m., depending on the day of the week. Tram lines can back up when the F train is out of service, which occasionally happens on the weekends or during weekday incidents. The Q102 makes frequent stops around the island and goes to Queens, plus there’s the free Red Bus, which stops in front of the co-op and navigates the island. Both stop at the train and tram. Many people don’t own cars due to limited street parking, but there is an indoor garage near Westview. Drivers are close to the Roosevelt Island Bridge for access into Queens, and the Queensboro Bridge for reaching Queens or Midtown. Not least, there’s the Roosevelt Island Ferry Terminal near the tram, making stops between Astoria and Wall Street.
Tax incentive
There’s a laddered 10-year tax incentive that only requires owners to pay 10% increments on their tax bill every year, so the full bill doesn’t have to be paid until year 10.
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Quantarium
Current List Price
Sold Price
Area Factors
Low Crime
Crime Score®
2/ 10
Very Bikeable
Bike Score®
77/ 100
Very Walkable
Walk Score®
81/ 100
Rider's Paradise
Transit Score®
92/ 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.
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
Capobianco Field
1 min walk
Baseball/Softball
Basketball
Tennis
Manhattan Park
2 min walk
Trails
Blackwell Park
6 min walk
Basketball
Picnic Area
Playground
Jack McManus Field
7 min walk
Soccer
Trails
Multi-Purpose Field
Southtown Dog Run
8 min walk
Dog Park
Firefighter's Field
8 min walk
Pony Field
9 min walk
Baseball/Softball
Rainey Park
14 min walk
Baseball/Softball
Dog Park
Playground
Queensbridge Park
3 min drive
Baseball/Softball
Bike Trails
Tennis
Schools
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