The Upper East Side has some of the most expensive properties in New York City. It also has some of the most reasonably priced properties. While parts of the UES have long been one of the most prestigious locations, it is also a great neighborhood to buy your first apartment. The most expensive properties lie from Fifth Avenue to Lexington, but then prices are more tame as you head East. With the new 2nd Avenue Subway, this area is becoming more and more popular and relevant, with a quick twenty-minute commute from the outreaches of the Upper East Side to midtown.
You can find some very reasonably priced Upper East Side apartments for sale as there are a lot of coops in the UES, which are lower priced than condos. The UES offers the best options for entry level 2 bedrooms apartments for sale in NYC. Starting at $1,200,000, converted Junior 4 apartments could be an excellent option for someone looking for a small two bedroom apartment (with usually 1 bathroom).
What’s is the Difference between Condo and Coop? Which one makes the best sense in the Upper East Side?
Buying a condo is like buying a house. You are buying real property. A coop, however, is not real property. It is considered personal property. Purchasers buy shares of stock in a building and the purchaser is awarded a proprietary lease to use a particular apartment in the building. Generally, property taxes and charges for common areas are lumped together into a maintenance figure that the purchaser pays monthly. In a condo, common charges and real estate taxes are paid separate.
If you are buying a permanent residence, have no future plans of moving, and like pre-war architecture, perhaps a coop will make the most sense. Co op prices are lower than condo prices, as there is more supply of coops than condos. However, generally, the coop board will not want you to rent out the unit, so investors should look to condos instead of coops. If you have plans of moving in the near future or prefer new buildings, a condo might make the most sense. Condo owners have more rights than coop owners. Condos can be rented out, so one doesn’t need to sell their apartment if they move elsewhere for a short while or even for longer periods. In addition, condos make up the lion’s share new buildings in Manhattan, so if you want new, coops are not an option.
Of course, if you have the budget for it when looking for luxury homes for sale, townhomes make a great choice, although many require extensive renovations and those that don’t can cost in the tens of millions of dollars, especially on blocks between Fifth and Lexington Avenues.
Existing Condos in the Upper East Side
By the Halstead 2Q 2018 Market Report, the average price per sq. ft. for a condominium apartment in the UES neighborhood was $1,480, however, that is the average of all old and new condos. Here are a few of our favorites:
The Lucida located at 151 East 85 Street
- Average price per sq. ft.: $2,349
Apartment 15H is a gorgeous 2 beds 2.5 baths listed for $4,000,000
The Laurel located at 400 East 67 Street
- Average price per sq. ft.: $1,871
At $1,564 per sq.ft., apartment 8E at The Laurel is an excellent option for someone looking for a 2 bedroom with potential for appreciation.
170 East End Avenue
- Average price per sq. ft.: $1,893
Beautiful views of Carl Schurz Park, Gracie Mansion and the East River from this 1,749 sq. ft. 3 beds 3.5 baths at this Upper East Side condo building. Priced at $3,200,000.
200 East 79 Street
- Average price per sq. ft.: $2,230
With an excellent corner location, 200 East 79 Street is one of our favorite new development condos built in the past 10 years in Manhattan.
Apartment 4C is a bright and airy 3 beds 3.5 baths home with an asking price of $4,725,000.
Manhattan House located at 200 East 66 Street
- Average price per sq. ft.: $1,913
Considered a NYC Landmark, Manhattan House was designed in the 50’s by architect Gordon Bunshaft with SOM and converted to condos in 2007.
The most affordable home for sale at the building is this 1 bedroom apartment with an asking price of $1,540,000.
737 Park Avenue
- Average price per sq. ft.: $3,540
One of the most exciting condo conversions in the Upper East Side, 737 Park Avenue is a ultra luxury condominium located at the corner 71st Street and Park Avenue.
Apartment 10F is a comfortable and gracious 2 beds 2.5 baths home with an asking price of $4,950,000
- Average price per sq. ft.: $2,285
One of the few pre-war condo buildings in the UES located on East 63rd Street and Lexington.
Apartment 6A at the Barbizon is a 1,508 sq.ft 2 beds 2.5 baths condo with a purchase price of $3,395,000
Upper East Side New Developments Condos For Sale
40 East End Avenue
40 East End Avenue just launched sales a couple of months ago on the heels of neighbor 20 East End Avenue, which did very well in terms of sales and price appreciation from launch to delivery. We expect 40 EEA will do well too since we think that the first offering prices for the project are quite good. The design by Deborah Berke Partners is contemporary but blends quite well into the existing neighborhood of East End Avenue.
Apartment 3B is a 1,472 sq.ft. Two Bedrooms residence with Southern views and asking price of $3,050,990
20 East End Avenue
Robert A.M. Stern designed 20 East End Avenue inside and out. It is a standout amongst new construction in the Upper East Side, with grand apartments in classic pre-war styling with some of the best finishes we have seen in Manhattan new construction. Robert A.M. Stern also designed another luxury condo currently for sale at the Upper West Side, 250 West 81 Street which has very similar design as 20 EEA.
Recently they just released the stunning Penthouse A (below), a full floor five bedrooms apartment with direct dual elevator access opening onto an elegant gallery. Asking price $39,500,000.
27 East 79 Street
Featured on our Best Manhattan Neighborhoods to Buy a Condo Blog, this Beaux Arts style building is located half block from Central Park in one of the most coveted locations of the Upper East Side. This boutique building is clad in limestone adorned by Juliet balconies and glass domed marquee. The French La Cornue are out of this world...a true luxury in a special new condo building.
Residence 5 is a stunning 2 beds 2.5 baths apartment with open southern views over the landmarked Upper East side mansions of the historic Cook Block. Asking price: $5,450,000
180 East 88 Street
DDG always delivers interesting designs and they have done so again at 180 East 88th Street in Carnegie Hill. One of our favorite design features of this pre-war style luxury real estate project is the Gaudi inspired arches seem in the mid and Penthouse level of the buildings’ handmade brick-lad facade.
Residence 5B is a 740 sq.ft. corner studio apartment with North and East exposures for $1,475,000.
Residence 28A is a corner two bedrooms apartment with 2.5 bathrooms, 14 ft. ceilings and triple exposure (North, East, and South). Asking price: $4,100,000
As featured on our blog that discusses NYC condos with 421a tax abatement, the Kent is an excellent new construction option for someone looking for a property with good potential for appreciation. Designed by award-winning architects Beyer Blinder Belle and acclaimed interior designer Alexandra Champalimaud, this 30 story apartment building is located at 200 East 95 Street and has a total of 83 residences.
Apartment 8C is the least expensive unit priced at $4,114,000. With gorgeous river views and triple exposure to North, East and South, it’s a bright and spacious 3 bedroom with 1,959 sq.ft. of living space.
Best Coops for Sale in the Upper East Side
Coops accounts for approximately 60% of the total housing inventory in the Upper East Side. By the Corcoran 2Q 2018 Market Report, the average price per sq.ft for a Coop in the UES was $1,422. Below are some examples of what’s is on the resalue Coop luxury market and have a selection of buildings considered the Top 10 Best Coops in the Upper East Side.
Built in 1931 the River House was constructed in 1931 and is well now for turned down applicants who failed to meet their requirements. Some of the rejected buyers were A-listers like: Joan Crawford, Gloria Vanderbilt, Richard Nixon, Diane Keaton and others.
Apartment 7A1 is a 3 beds 3.5 baths asking $4,495,000
Apartment 16/17C2 is a magnificent 3 beds 3 baths home asking $9,250,000
The Carlyle located at 35 East 76 Street
With only 3 sales currently on the market, The Carlyle is one of the best coop buildings in the Upper East Side. It’s a 40 story building completed in 1930 and the units were converted to coops in the 70’s. It occupies the entire block on Madison Avenue between 76th and 77th Streets. The Carlyle Hotel is on the south tower.
Apartment 2009-15 is a 2 beds 3 baths asking $5,800,000
Apartment 615 is a 2 beds 2 baths asking $5,800,000
Apartment 815 is a 2 beds 2 baths asking $5,800,000
The Pierre located at 795 Fifth Avenue
Part Co-op (77 units) and part hotel (140 rooms and 49 suites) The Pierre, now part of Taj Hotels, offers great restaurants and over the top amenities and services like twice daily maid service, elevator attendants, an on-call Physician 24/7 and much more.
Apartment 3101 is a 2 beds 2.5 baths Central Park view home asking $23,000,000
720 Park Avenue
Apartment 12A is a 3 bedrooms home currently asking $20,000,000
Apartment 7/8A is a 12,000 sq.ft. home currently asking $12,000,000
834 Fifth Avenue
Another Art-Deco Rosario Candela building located on Fifth Avenue and 64th Street. 834 Fifth Avenue is a coop that recently gained international fame when Rupert Murdoch purchased the former Laurance Rockefeller’s apartment for $44 million.
Apartment 7/8A is a 12,000 sq.ft. home currently asking $12,000,000
To finalize our discussion about the Upper East Side Real Estate Market
Deciding which neighborhood makes the most sense for you can be tricky. It is important to know what developments might be coming to the neighborhood, both good and bad. If you are not working with a Manhattan Real Estate Agent, start working with one now. It is important that you select one that knows what is coming to the neighborhood, which could have a big impact on values and the way of life that you were expecting.
I hope you enjoyed this small selection of Upper East Side apartments for sale but if you want to explore more option in the neighborhood just let us know. Many of our clients request a tailored property search based on a set of parameters. If you would like us to do that, just provide us with some parameters (size, price points, neighborhood preference, etc.) and we will do the search for you. You can also filled the form below:
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