Manhattan · Chelsea & Hudson Yards · Neighborhood Analysis

The Pied-à-Terre Tax in Chelsea & Hudson Yards

High Line condos and the Hudson Yards towers give Chelsea one of the youngest — and most heavily non-primary — luxury inventories in Manhattan.

11,343
condo & co-op units on the roll
1,709 (15%)
over the $1M threshold
$1.4M
median DOF value, exposed units
$111.2M
max annual surcharge, pre-exemption

ZIP codes 10001, 10011 · DOF roll date July 24, 2026

What the roll says about Chelsea & Hudson Yards

Across Chelsea & Hudson Yards, the Department of Finance's roll lists 11,343 condo and co-op units, and 1,709 of them — 15% — carry a DOF market value over the $1,000,000 Phase-1 threshold. Each of those units owes a flat 4%–6.5% of its full DOF market value for any year it is not someone's primary residence. If every exposed unit here paid with no exemption, the neighborhood's combined bill would be $111.2M a year — the ceiling, not the forecast, since primary residents and 12-month-leased units owe nothing.

The threshold test uses the DOF market value — the "Market Value" line on the Notice of Property Value — not the assessed value and not what the apartment last sold for. In Chelsea & Hudson Yards the median DOF value among exposed units is $1.4M; across all units it is $458K. Co-ops are valued by DOF's fractional-share method, which can surprise shareholders on the high side.

The most exposed buildings in Chelsea & Hudson Yards

Ranked by combined maximum annual surcharge of over-threshold units. Buildings with a full Conquest write-up are linked.

BuildingZIPUnitsOver $1MTop DOF valueMax surcharge/yr
155 West 11 Street10011199125$4.3M$9.9M
553 West 30 Street10001285159$3.8M$9.6M
35 Hudson Yards10001143123$6.2M$8.8M
500 West 18th Street1001123590$3.9M$5.6M
555 West 22nd Street1001114166$4.2M$4.2M
515 West 18th Street1001118155$2.2M$3.0M
551 West 21 Street100114431$4.0M$2.1M
520 West 28 Street100014026$3.5M$1.8M
505 West 19 Street100113518$3.5M$1.5M
527 West 27th Street100013624$3.1M$1.4M
252 7 Avenue1000135125$2.3M$1.3M
503 West 24 Street1001155$9.9M$1.3M

Tower-by-tower write-ups

Full unit-level analyses for Chelsea & Hudson Yards's best-known buildings:

Walker Tower →200 Eleventh Avenue →520 West 28th Street →Caledonia →100 Eleventh Avenue →456 West 19th Street →

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Methodology. Figures aggregate DOF's Supplemental Market Value Roll (July 2026) for ZIP codes 10001, 10011 — ZIP boundaries approximate neighborhood borders, so edge blocks may sit in an adjacent page's totals. Condo, co-op and mixed condo units only; 1–3-family houses are excluded here and covered in the database at ZIP level. "Max annual surcharge" assumes no unit qualifies for an exemption; actual collections will be lower. Educational information, not tax or legal advice.

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