Recent Real Estate Activity and Market Context for One Manhattan Square
252 South Street, NYC
Over the past three months, there have been no major headline-driven news events specifically tied to One Manhattan Square, the luxury condominium tower located at 252 South Street on Manhattan’s Lower East Side. However, several relevant market activities, listings, and broader neighborhood developments provide a clear picture of the building’s current standing and the real-estate environment surrounding it.
Recent Unit Activity at One Manhattan Square
Despite the absence of breaking news, One Manhattan Square remains an active market for resales and new listings. Units continue to trade, with notable activity including recent closings on two-bedroom residences and various price adjustments on higher-floor units. Some resale listings have seen reductions, reflecting broader market dynamics in Manhattan as sellers calibrate pricing to shifting demand.
The building continues to promote one of its strongest incentives: One Manhattan Square is among the last major condominium developments in New York City offering a 20-year tax abatement, a significant benefit for buyers seeking long-term savings.
Current Building Status
Completed in 2019, One Manhattan Square remains one of the most prominent modern luxury towers on the Lower East Side waterfront. The building continues to offer both resale and rental inventory with strong marketing that highlights its extensive amenities, panoramic city and river views, contemporary interiors, and lifestyle-oriented features.
These elements continue to position the building as a major draw for buyers looking for newer construction with resort-style amenities in a rapidly evolving part of Manhattan.
Real Estate Developments Around the Neighborhood
The broader area surrounding 252 South Street — which includes the Two Bridges, Lower East Side waterfront, and Seaport District — has seen continued momentum:
- • Downtown Manhattan is experiencing a surge in office-to-residential conversions, reshaping parts of Lower Manhattan and increasing the supply of future residential units.
- • Nearby waterfront sites, including long-stalled development parcels, have recently attracted renewed developer interest. A significant transaction involving a prominent Seaport lot suggests ongoing investment activity along Manhattan’s southeastern edge.
- • These neighborhood-wide shifts contribute to the evolving landscape around One Manhattan Square, impacting buyer demand, pricing, and long-term neighborhood appeal.
Environmental and Flood-Zone Considerations
One Manhattan Square remains located within a recognized waterfront floodplain. Although this is not a new issue, it continues to factor into long-term considerations for buyers and investors. Past storm events in Manhattan highlight the importance of flood-mitigation planning, insurance costs, and ongoing resilience efforts throughout the city’s coastal neighborhoods.
The Bottom Line
Overall, while One Manhattan Square has not made recent headlines, the consistent resale activity, strong tax incentives, and momentum in surrounding waterfront developments reinforce its position as a valuable luxury property on the Lower East Side. As the neighborhood continues to evolve with new conversions, investments, and residential growth, the building remains well-situated for long-term appeal among buyers, investors, and renters alike.
