Understanding the structure and properties of heterocyclic radicals and their cations is crucial for elucidating reaction mechanisms as they serve as versatile synthetic intermediates. In this work, the N-carbazolyl radical 1 was generated via pyrolysis and characterized using photoion mass-selected threshold photoelectron spectroscopy coupled with tunable vacuum-ultraviolet synchrotron radiation. The N-centered radical 1 is classified as a π-radical (2B1), with the unpaired electron found to be delocalized over the central five-membered ring of the carbazole. Adiabatic ionization energies corresponding to the transition from radical 1 to its singlet 1+(1A1) and triplet 1+(3B2) cations were determined to be 7.70 ± 0.03 and 8.14 ± 0.03 eV, respectively. The antiaromatic nitrenium ion 1+ exhibits a singlet ground state with an experimental singlet-triplet energy gap (ΔES-T) of -0.44 eV (10.1 kcal/mol), in very good agreement with theory. N-centered radicals are found to have a higher ionization energy than their C-centered analogues due to stabilization of the singly occupied molecular orbital.