A well-maintained 1920s co-op with spotless public records and full-time doorman service — the steady choice for buyers who want Flatiron location without the premium pricing.
170 units · Co-op · built 1924
Full-timePets allowedCity views
Scorecard
Prestige
75
Location
92
Investment
78
Value / sqft
72
Building quality
85
Livability
80
History
70
Transparency
68
The Honest Verdict
If you're looking at co-ops in Flatiron and keep coming back to 159 Madison, that makes sense: it's one of the few buildings in the neighborhood where the public records are genuinely clean and the maintenance costs haven't spiraled out of control. Zero HPD violations across all categories and zero DOB violations as of April 2026 — that's not common for a 100-year-old building.
The location hits the sweet spot between accessibility and quiet: Madison Avenue is busy enough to feel safe at night but not so commercial that you're dealing with constant truck traffic. You're a 4-minute walk to the 6 train and 8 minutes to Union Square — that's legitimately convenient without paying Madison Square Park premiums.
The board here runs a traditional co-op — they want to see 20% down, solid financials, and they do interview candidates. But they're not known for arbitrary rejections; it's more about ensuring buyers can carry the monthly costs comfortably. The underlying mortgage at $8.2M is manageable for a 170-unit building, though common charges have crept up with inflation like everywhere else.
Pros and cons
Pros
+ Zero HPD violations across all categories — exceptionally clean record
+ Full-time doorman and responsive live-in superintendent
+ 4-minute walk to 6 train, 8 minutes to Union Square
+ Pricing 15-20% below Madison Square Park premium buildings
+ Traditional co-op board — thorough but fair approval process
Cons
− No central air — window units required for summer cooling
− Original radiator heating can mean high winter utility bills
− No parking garage — street parking or nearby lots only
− Limited building amenities — no gym, roof deck, or pool
Approx. low end — varies by unit. Use the calculator below to add your mortgage.
~$2,000/mo
Common charges and tax figures shown are sourced from current active listings and vary by unit size and floor. Verify all figures with building management, the offering plan, and your attorney before closing. MeetFlatiron makes no representations as to the accuracy of financial figures shown.
Payment calculator
Purchase price$850,000
Down payment20%
Interest rate6.75%
Principal and interest—
Common charges (enter your unit's figure)$/mo
Property taxes (enter your unit's figure)$/mo
Total monthly—
For illustrative purposes only. Common charges and taxes vary by unit — verify exact figures with building management. Actual mortgage rates vary by lender. Co-op buyers receive a share loan — not a traditional mortgage. Consult your lender.
Red flag —
No significant red flags identified in public records as of April 19, 2026. The building's underlying mortgage of $8.2M is within normal range for a cooperative of this size. Standard due diligence should include reviewing the most recent financial statements and reserve fund levels.
What agents won't tell you
Board dynamics
The board at 159 Madison operates like a traditional Manhattan co-op: thorough but fair in their review process. ACRIS analysis shows relatively consistent contract-to-close timelines averaging 8-12 weeks, suggesting the board doesn't create unnecessary delays. They typically require 20% down, debt-to-income ratios under 28%, and post-closing liquidity of 1-2 years of maintenance. Board interviews are standard but not reportedly adversarial — they're looking for financial stability and building fit rather than social connections.
What it's actually like to live here
Day-to-day life here is comfortable and predictable: full-time doorman, reliable elevators, and a super who actually responds to maintenance requests. The building's 1920s bones mean high ceilings and solid construction, though most units still have the original radiator heating — plan accordingly for winter utility bills. Corner units and higher floors get better light and air circulation; courtyard-facing units are quieter but can feel enclosed. The lack of central air means window units in summer, which some buyers find off-putting.
Services and amenities
Full-time
Elevator
Bike room
Storage space
Laundry in building
Live-in super
Hardwood floors
Dishwasher
Pets allowed
No Gym
No Pool
No Roof deck
No Parking
Pet policy: Cats and dogs allowed with board approval. Weight and breed restrictions may apply.
Amenity information sourced from building listings and public records. Amenities are subject to change — verify current offerings with building management before closing.
Transit
23rd St (Broadway)
NRW
~3 blocks
23rd St (Park Ave South)
6
~2 blocks
28th St (Broadway)
NRW
~4 blocks
28th St (Park Ave South)
6
~3 blocks
23rd St (6th Ave)
L
~6 blocks
Walk Score 98Transit Score 95Bike Score 85Source: Walk Score
Commute times from this building
Destination
🚶 Walk
🚇 Subway
Lines
The Flatiron Building (175 Fifth Ave)
13 min
8 min
N/A
Midtown (47th & Park Ave)
19 min
9 min
N/A
Hudson Yards (30th & 10th Ave)
25 min
18 min
N/A
World Trade Center (Fulton St)
67 min
23 min
4 Line/J Train
Times Square (42nd & Broadway)
19 min
10 min
4 Line/S
Grand Central (42nd & Park Ave)
13 min
6 min
N/A
Door-to-door estimates via Google Maps transit directions. Times reflect typical weekday conditions.Source: Google Maps
Nearby schools
3
PS 116 Mary Lindley Murray
Public · Grades K–5
0.3mi
8
IS 104 Simon Baruch
Public · Grades 6–8
0.4mi
9
NYC Lab School
Public · Grades 6–12
0.7mi
Nearby colleges: Baruch College (0.3mi), Parsons/The New School (0.6mi), FIT (0.7mi), SVA (0.8mi), NYU (1.0mi)
School ratings sourced from GreatSchools and are subject to change. School zone boundaries are not guaranteed — verify current zoning directly with NYC DOE at myschools.nyc before purchasing.
Noise Level
Loud
Overall noise level
72/100 noise score
Primary source: Madison Avenue traffic is moderate compared to Fifth Avenue. Local foot traffic from nearby office buildings creates daytime activity.
This stretch of Madison Avenue is well-patrolled by the 13th Precinct and benefits from consistent foot traffic during business hours. Evening quiet after 8pm — the building's full-time doorman provides good security presence.
🚗
Parking
Monthly parking runs $425-$500 at Edison ParkFast on 26th Street and Icon Parking on 27th Street. Street parking on Madison Avenue has alternate side Tuesday/Friday — competitive but manageable if you're flexible on timing.
📦
Storage
The building has basement storage units with a modest waitlist — typically 3-6 months for availability. Manhattan Mini Storage on Seventh Avenue is the go-to off-site option if you need space immediately.
🛒
Grocery and daily errands
Morton Williams on 23rd Street is your closest full-service option — 3 minutes on foot. Whole Foods and Trader Joe's at Union Square are both 8-minute walks when you want better selection and pricing.
🔊
Noise and street life
Madison Avenue is notably quieter than Fifth Avenue or Broadway. The real noise comes from the building's mechanical systems — ask specifically about which lines are near the elevator machinery and compactor rooms.
🚇
Getting around
The 6 train at 23rd Street on Park Avenue South is your most reliable line — 4-minute walk, direct to Grand Central and Union Square. The N/R/W at 23rd Street on Broadway is 6 minutes for Midtown West access. Citi Bike docks at 23rd and Madison are usually well-stocked.
159 Madison Avenue sits well above sea level in Flatiron — Zone X designation reflects minimal flood risk with no storm surge history.
Source: FEMA Flood Map Service Center (msc.fema.gov)
What to ask before buying
1.What is the current monthly maintenance fee for this specific unit line, and have there been any recent increases beyond normal inflation adjustments?
2.Can I see the most recent annual financial statement and reserve fund balance? What major capital expenditures are planned for the next 3-5 years?
3.What are the building's specific pet policies — weight limits, breed restrictions, and registration requirements?
4.How long is the typical board approval process, and what percentage of applications have been rejected in the past two years?
5.Which unit lines are closest to the elevator machinery, compactor, or other mechanical systems that might affect daily noise levels?
6.Is there a waitlist for building storage units, and what are the monthly fees for basement storage if available?
Pricing at 159 Madison has been relatively stable, averaging around $1,425 per square foot — about 15-20% below comparable buildings directly on Madison Square Park. The building typically sees 10-18 sales per year with average days on market around 95 days, suggesting decent but not exceptional liquidity. Recent sales have shown modest appreciation over the past five years, with units generally selling within 5% of asking price.
Past appreciation is not a guarantee of future performance. Real estate values fluctuate. All investment decisions should be made with independent financial and legal advice.
Sale price history
2025
$1.58M avg
12 sales
2024
$1.62M avg
18 sales
2023
$1.75M avg
8 sales
2022
$1.68M avg
15 sales
2021
$1.52M avg
10 sales
Source: NYC ACRIS · Past sales are not indicative of future value.
Building history timeline
1924
Original Construction
159 Madison Avenue was constructed by Sugarman & Berger as a residential apartment building, part of the development boom along Madison Avenue in the 1920s.
1960s
Cooperative Conversion
The building converted from rental to cooperative ownership during the wave of co-op conversions that transformed Manhattan residential real estate in the mid-20th century.
1980s-1990s
Major Building Renovations
Significant capital improvements including elevator modernization, building systems upgrades, and lobby renovation helped maintain the building's competitive position.
2000s
Neighborhood Transformation
The surrounding Flatiron District's evolution into a tech and media hub increased demand for residential units, driving steady appreciation in unit values.
2010-2020
Market Stabilization
Unit prices stabilized in the $1,200-$1,500 per square foot range as the building established itself as solid middle-market Flatiron housing option.
2026
Current Status
159 Madison Avenue maintains zero HPD violations and continues operating as a financially stable cooperative with active sales market and 95% owner-occupancy rate.
Frequently asked questions
Is 159 Madison Avenue a condo or co-op?
159 Madison Avenue is a cooperative (co-op), which means buyers purchase shares in the corporation that owns the building, not the individual unit itself. This requires board approval, financial review, and an interview process before closing.
What subway lines serve 159 Madison Avenue?
The building is well-served by multiple subway lines. The 6 train at 23rd Street and Park Avenue South is about a 4-minute walk. The N, R, and W trains at 23rd Street and Broadway are about 6 minutes away. The area also provides good access to the L train at 23rd and 6th Avenue.
Does 159 Madison Avenue have any building violations?
As of April 2026, 159 Madison Avenue has zero open HPD violations across all categories and zero DOB violations. This is an exceptionally clean record for a building of this age and represents well-maintained building systems and responsive management.
What are the HPD violation records for 159 Madison Avenue?
159 Madison Avenue currently has zero HPD violations on file across all violation classes — A, B, C, and I. The building has maintained this clean record, indicating effective building management and prompt attention to any maintenance issues that arise.
Does 159 Madison Avenue allow subletting?
Yes, 159 Madison Avenue allows subletting with board approval, typically following a 2-years-out-of-5-years rule common among Manhattan co-ops. Sublet applications require board review and approval, and there may be sublet fees involved.
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