Manhattan Co-op with Central Park Views Listed at $5.18 Million

A distinctive Upper East Side cooperative apartment, featuring direct views of Central Park and a wood-paneled library, is currently on the market for $5.18 million. This property, located in a landmarked Gothic-inspired building, offers a rare combination of pre-war charm and white-glove amenities. The sale presents a unique opportunity for buyers seeking a prestigious Manhattan address with historical significance.

What are the key features of this Upper East Side co-op? The residence is configured as a spacious four-bedroom layout, though it was originally a five-bedroom unit. The current owner combined two bedrooms and two baths to create an impressive primary suite. The formal layout includes a living room, a library with a wood-burning fireplace, and a dining room that leads to a glassed conservatory, which can function as a breakfast room. A semiprivate elevator landing adds to the sense of exclusivity. The apartment retains many original details that are rarely found in Manhattan homes today.

What building amenities and costs are associated with the property? The building is a full-service cooperative, often referred to as a "white-glove" co-op for its high level of service. Staffing includes porters, a resident manager, and 24/7 door attendants. These services, along with building maintenance, are covered by a monthly maintenance fee of $10,719. It is important for potential buyers to understand that in a co-op purchase, you are buying shares in the corporation that owns the building, rather than deeding real property directly, which is a key difference from a condominium (condo). The building, constructed in 1906, is a designated landmark, featuring a distinctive brick and terra cotta facade.

What is the location and neighborhood like? The co-op is situated on Manhattan's Upper East Side, a neighborhood renowned for its proximity to Central Park, Madison Avenue's luxury shopping, and world-class cultural institutions like the Metropolitan Museum of Art. The location offers unparalleled access to parks, fine dining, and public transportation. The property's value is significantly influenced by its position in this highly desirable and established residential enclave.

What should a potential buyer consider before purchasing? Prospective buyers should be prepared for the rigorous board approval process typical of New York City co-ops. This often involves a detailed application, in-person interviews, and financial scrutiny. Based on our experience assessment, boards generally look for buyers with significant liquidity, often requiring post-closing liquid assets equal to one to two years of the monthly maintenance costs. The current asking price of $5.18 million represents a value compared to the initial listing price in 2023. As with any real estate transaction, conducting a thorough inspection and reviewing the co-op's financial health are critical steps.

This property offers a unique chance to own a piece of New York City history with modern comforts. The combination of pre-war architectural details, prime location, and full-service amenities makes this a notable listing in the current Manhattan market. Interested parties should engage a real estate attorney experienced in New York City co-op transactions to navigate the purchase process.