Can the Kostopouloses play the waiting game with this Houston Street condo?

Our clients, the Kostopouloses, are trading their longtime home in Astoria for a new chapter on the Lower East Side. Nicos, an Astoria native, has made urban planning the bedrock of his career . Meanwhile, his wife, Elena—a celebrated fantasy novelist —spends her days weaving characters and worlds of her own. She’s happiest when there’s space to pause, reflect, and write... ideally with a terrace view .

The next stop on our journey: 265 East Houston Street #4

Property Overview: 265 East Houston Street #4 is a 1,400-square-foot unit in a 10-story condo building with 2 bedrooms and 2 bathrooms.

List Price: $1,875,000

Highlights
Largest unit in the building set
Strong price per foot at $1.875M compared to peers hovering near $2M
On the north tip of the LES, right on the East Village border

Considerations
Investor-only sale—tenant in place until August 2026
No immediate occupancy (unless Elena can help them to time-travel)
Shared rooftop terrace—not private, but still a skyline bonus
Building has a 421a tax abatement, “subject to approval”*

*At $2,012/month, the tax abatement doesn’t appear to be active—if it were, monthly taxes would likely be lower

Also—and I’ll spare the record scratches this time—this unit is currently occupied and they're only seeking investors. That cherished terrace? It’s shared... and on the roof of this 10-story building

Fit
Best for long-term buyers who can wait to take possession . Offers the most space for the price—but not ideal if you need to move in now.

Recap
Here’s what the Kostopouloses have seen, and what’s coming up:

Seen
199 Bowery #2D
179 Ludlow Street #2
50 Clinton Street #6D
265 East Houston Street #4
Coming up!
577 Grand Street #F1904
330 Grand Street #2B