131 W 24th Street 5/6
$4,250,000
MLS# RLS20121453 · Chelsea
Listed October 17, 2026 · 11 days on the market
5 Beds 3 Baths 4,200 Sq.Ft.
About This Property
A piece of New York City history. This sprawling loft was once the home and dance studio of the late renowned choreographer Louis Falco of the 1980 motion picture 'Fame', and a legendary after-party destination for Studio 54. The 4,200 sq. ft. loft is spread over 2 full floors. Five bedrooms (with plenty of room for more), 3 full bathrooms (with plumbing in place for a 4th), and 3 separate living/entertaining spaces. This one-of-a-kind space is a true blank canvas, with no structural walls. The new owner can enjoy the current layout as it is, or completely customize the layout to suit their vision. (See only 1 of endless options for an alternate floor plan on the listing).
The heart of this home is the breathtaking central living area that extends into a secondary den. The ceilings soar to over 18 feet at the core of the loft with 4 large windows. Currently the space is enjoyed as a home theater with an expansive retractable projection screen, but is also ideal for creative gatherings or studio use.
The keyed elevator opens directly onto both floors. On the top floor, the doors open to the grand, south-facing kitchen, flooded with natural light, and a spacious dining and family room area—perfect for entertaining. Also included here is an in unit washer/dryer. On the opposite end of this level, across a cat-walk, is a beautifully appointed library, two queen-sized guest bedrooms, and a full bathroom. The existing kitchen pantry is ready to be transformed into another full bath, or proper laundry room.
On the lower level, the elevator opens to the south facing primary suite which includes a serene, spa-like bathroom, walk-in closet, and a home gym/yoga studio. There is also a 3rd guest bedroom with full bathroom, a den, and a sizable office/5th bedroom.
Situated in the heart of Chelsea, this home is surrounded by neighborhood favorites including Whole Foods, Fairway, Traders Joes, and Eataly. Also conveniently located near 10 subway lines and many iconic landmarks, including Madison Square Park, the Flatiron Building, the historic Chelsea Hotel, and the High Line. Whether you envision a grand loft home, a creative studio, or a hybrid work from home space, this architectural masterpiece offers limitless possibilities.
The intimate five unit co-op has a video intercom security system, storage closet that transfers with the unit, and a bike room. The co-op also owns the ground floor commercial space which contributes to its financial stability and low monthly maintenance for its shareholders. Pets and sublets are allowed on a case-by-case basis.
This loft offers a potential total of approximately 4,800 square feet (2,400 per floor), including the 600-square-foot double-height living room. The current livable space is approximately 4,200 square feet.
Some photos have been virtually staged for illustrative purposes.
Agent's Note
From Curtis Bain. Details about the apartment are drawn from the listing information provided through RLS by Compass.
Laundry is already in place, with a washer and dryer inside the unit, so a load never means leaving the apartment. The primary suite has a walk-in closet and a home gym or yoga studio, and the elevator opens directly onto both floors, which helps when you're moving furniture between levels.
The kitchen and the primary suite both face south, so they get direct sun for much of the day. A south-facing window with an open horizon gets about 8.5 hours of direct sun around the winter solstice, from 7:41 AM to 4:07 PM, and about 10 hours near the spring equinox, from 8:04 AM to 6:02 PM. Nearby buildings can block some of that. The kitchen opens to the dining and family room, so cooking and hosting share one level.
The loft has no structural walls, so you can keep the current layout or rework it. At its core the ceilings rise over 18 feet, and four large windows are set into that central room. Five bedrooms, three full bathrooms, and plumbing in place for a fourth give the plan room to change. I like that the layout can move with you.
Storage is covered in several places. There are walk-in closets, a storage closet that transfers with the unit, and a bike room in the building. The building also has a gym and a video intercom security system.
The 23rd Street station for the F and M trains is about 2 minutes on foot, and Fairway Market is about the same distance. Madison Square Park is about 7 minutes away, and Whole Foods Market is about 3 minutes.
Quick answers+
Does the apartment have in-unit laundry?
Yes. The washer and dryer are in the unit.
Does the apartment have a separate kitchen?
Yes. The south-facing kitchen is on the top floor and opens to a spacious dining and family room area.
Are pets allowed?
Pets are allowed on a case-by-case basis.
Curtis Bain
Brown Harris Stevens
Property Features
Home features
- Washer/dryer in unit
- Walk-in closets
Building amenities
Services and facilities
- Elevator
Wellness and recreation
- Gym
Estimate
Monthly Cost & Closing Costs
The rate is a placeholder, not a quote. Enter the one your lender gives you.
$25,726 / month
- Principal and interest$21,490
- Maintenance$4,236
Due at closing
- Down payment (20%)$850,000
- NYS “mansion tax” (1.5%)$63,750
Co-op share loans aren't subject to mortgage recording tax. Not included: attorney, title insurance, lender and appraisal fees, board application and move-in fees, flip tax and prepaid items. Estimates only, based on the published New York State rates. Your attorney and lender will confirm the real figures.
Gallery
Property Photos
Listing Courtesy of Compass
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved.