Manhattan · Financial District & Battery Park City · Neighborhood Analysis

The Pied-à-Terre Tax in Financial District & Battery Park City

Conversion condos downtown carry lower DOF values than their uptown peers — which is exactly why most FiDi owners are under the line, and why the ones over it are often surprised.

10,572
condo & co-op units on the roll
352 (3%)
over the $1M threshold
$1.2M
median DOF value, exposed units
$21.9M
max annual surcharge, pre-exemption

ZIP codes 10004, 10005, 10006, 10038, 10280, 10282 · DOF roll date July 24, 2026

What the roll says about Financial District & Battery Park City

Across Financial District & Battery Park City, the Department of Finance's roll lists 10,572 condo and co-op units, and 352 of them — 3% — 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 $21.9M 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 Financial District & Battery Park City the median DOF value among exposed units is $1.2M; across all units it is $338K. Co-ops are valued by DOF's fractional-share method, which can surprise shareholders on the high side.

The most exposed buildings in Financial District & Battery Park City

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
1 Wall Street1000556688$7.5M$5.1M
50 West Street1000618645$4.3M$2.8M
10 Little West Street1000411531$3.0M$1.8M
212 Warren Street1028216622$2.1M$1.1M
130 William Street1003824121$2.5M$1.1M
48 Beaver Street1000411$14.8M$960K
25 Park Row1003811014$3.5M$928K
200 Rector Place1028054018$1.2M$808K
80 Nassau Street1003811$8.3M$539K
114 Liberty Street10006129$2.5M$523K
41 John Street1003811$7.8M$507K
54 Stone Street1000455$2.6M$383K

Tower-by-tower write-ups

Full unit-level analyses for Financial District & Battery Park City's best-known buildings:

The Visionaire →The Ritz Carlton Residences →W Residences →50 West →Riverhouse - One Rockefeller Park →The Beekman Residences →

Own in Financial District & Battery Park City? Get your exact number.

Free emailed report: your unit's official DOF market value, the surcharge test, and — if you're over the line — what a 12-month lease or a sale would look like. Usually within the hour.

Check My Unit — Free

Methodology. Figures aggregate DOF's Supplemental Market Value Roll (July 2026) for ZIP codes 10004, 10005, 10006, 10038, 10280, 10282 — 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.

Keep reading