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A multi-million dollar cooperative apartment (co-op) on Manhattan's Upper East Side, recently owned by a prominent sports figure, offers a case study in high-end urban living. The property's listing price of $11 million reflects current market dynamics for exclusive, full-floor residences with historic pedigree and premium amenities. The sale highlights key considerations for luxury co-op purchases, including board approval processes and the value of recent, high-quality renovations. This article provides an objective analysis of the property's features and the broader context of such a transaction, based on our experience assessment of the luxury real estate market.
This residence is a full-floor home within a distinguished building designed by architect William L. Bottomley in 1931. The property is characterized by its "old world charm" and location on a quiet cul-de-sac. The unit itself spans 10 rooms, including three bedrooms and 4.5 bathrooms. Key architectural features include 9.5-foot ceilings, hardwood floors in public rooms, carpeting in bedrooms, and recessed lighting. The layout is designed for both entertainment and private living, beginning with a private foyer that leads to a 26-by-16-foot great room. This main space offers river views through five oversized windows. The separate formal living room with a wood-burning fireplace and an adjacent study/library adds to the residence's traditional elegance.
The property has undergone recent renovations, with a focus on high-end finishes and functionality. The eat-in kitchen is a standout, equipped with abundant counter space, a working island, three sinks, two dishwashers, two refrigerators, a wine cooler, and an eight-burner stove. A cozy banquette provides space for casual dining. Beyond the main living areas, the home includes a media room and a primary bedroom suite configured with two primary bathrooms, two dressing rooms, and a sitting room. A secondary en suite bedroom and a dedicated laundry room complete the layout. The comprehensive nature of the updates, particularly in the kitchen, is a significant value-add in the current market.
| Feature Category | Specific Amenities |
|---|---|
| Layout | 10 rooms, 3 bedrooms, 4.5 bathrooms |
| Key Rooms | Great room, formal living room, study/library, media room |
| Kitchen | Two dishwashers, two refrigerators, eight-burner stove |
| Primary Suite | Two bathrooms, two dressing rooms, sitting room |
| Building Staff | 24/7 staff |
Purchasing a unit in this building involves a rigorous co-operative board approval process. A co-op board is a governing body made up of resident shareholders that must approve any prospective buyer. This process is known for being highly selective, often reviewing an applicant's financials, personal and professional background, and even requiring personal interviews. The building's board has been described as notably selective in the past. Successful navigation of this process is a critical, non-negotiable step in acquiring a co-op apartment in many of New York City's most prestigious buildings. The previous owners had to secure financing and pass this review when they purchased the unit.
The building offers a suite of services and amenities that contribute to its luxury status. These include 24/7 staff and landscaped gardens. A significant perk for residents is the optional membership to the River Club, a private sporting and social club. Membership grants access to squash courts, tennis courts, two golf simulators, a fitness center, a swimming pool, a ballroom, guest rooms, and a dining room and bar with river views. Furthermore, the purchase includes a storage unit, an valuable asset in New York City where storage space is often at a premium.
The property's current asking price of $11 million represents an appreciation from its previous sale price of $10.35 million. Market value for such properties is influenced by factors including the building's historic status, the scale and quality of the residence, and the suite of available amenities. Transactions of this caliber often involve high-net-worth individuals and are subject to market conditions. The sale is facilitated by a licensed real estate professional with a major brokerage, following standard procedures for luxury listings.
Prospective buyers of similar properties should prioritize a thorough financial review, understand the co-op board's requirements, and assess the long-term value of the building's amenities and location. The combination of a meticulously renovated interior, a historic and full-service building, and exclusive club access defines the upper tier of New York City's residential real estate market.
