- Year built
- 1958
- Type
- Cooperative
- Units
- 70
- Floors
- 19
- Landmark
- Designated
- Pets
- Pets NOT permitted (a structural restriction; unusual relative to the more permissive policies of neighboring Carnegie Hill buildings)
- Subletting
- Board-approval required
- Pied-à-terre
- Allowed
- Flip tax
- 2% of the purchase price, paid by the purchaser
- Land
- Owned
- Tax status
- Participates in the NYC Cooperative/Condominium Shareholder Real Estate Tax Abatement Program; the co-op refunds abatements to shareholders via an offsetting operating assessment
Compiled by The Roebling Research Desk from building documents and current market data. Board policies can change by amendment — confirm at the offer stage. As of 2021.
Every recorded sale at this building, 2004–2022
Bedroom-by-bedroom medians, the full transfer record, and how units trade against ask.
- Listing discount
- 3.4%
- Recorded transfers
- 30
1036 Park Avenue is among the southern Carnegie Hill cooperatives that occupy the geographic seam between Carnegie Hill and Lenox Hill — the most consequential single transition in the Park Avenue residential corridor. The building's location two doors south of the Park Avenue / East 86th Street corner places it within walking proximity to both the Lenox Hill amenity base to the south and the Carnegie Hill cultural concentration to the north (Cooper Hewitt, Jewish Museum, Guggenheim).
The 71-apartment scale places 1036 Park among the smaller-to-mid-size pre-war Park Avenue cooperatives — meaningfully more institutional than the smallest tier-one Candela peers (740 Park: 33; 778 Park: 18) but less institutional than the larger Carnegie Hill peers (1040 Park: ~100; 1185 Park: courtyard plan with multiple wings). The unit scale produces moderate annual transaction volume — typically 4–7 transactions per year — and a manageable institutional density.
The building's financial profile is distinctively strong for a pre-war Carnegie Hill cooperative:
- December 2021 mortgage refinancing at 2.94%. The cooperative refinanced its prior $2.4M mortgage (held by Sterling National Bank at 3.375% with 40-year amortization) to a new $2.3M mortgage held by National Cooperative Bank at 2.94% interest with 30-year amortization, maturing January 1, 2032. The new mortgage captures the rate-trough pricing of late 2021 and locks in materially low debt service through 2032 — a meaningful long-term financial advantage for shareholders.
- $500K revolving line of credit also established with NCB at the time of refinancing, providing flexible access to capital for unexpected expenditures (currently undrawn as of the 2021 reporting date).
- Professional unit commercial rental income of approximately $125,000–$130,000 per year, providing a stable income stream that reduces shareholder maintenance burden.
- 2% flip tax on all sales, which feeds into the corporation's additional paid-in capital — a long-term mechanism for building reserves and supporting capital expenditures without raising maintenance.
- Established capital reserve of approximately $384,000 (2021), invested across Webster Bank, NCB, Wells Fargo, and Merrill Lynch.
For buyers, 1036 Park represents a particular tier of Carnegie Hill Park Avenue inventory: pre-war architectural credentialing, 71-apartment moderate scale, a distinctively strong 2021 financial position with locked-in low-rate debt through 2032, supplementary professional-unit income, and the prestigious Park Avenue / 86th corner positioning.
Architecture and unit composition
The building's pre-war Park Avenue vintage indicates the standard luxury cooperative idiom of the 1920s: limestone-clad base, brick body above, classical detailing, formal entrance with canopied doormen presence, and apartment configurations reflecting the era's luxury Park Avenue conventions.
The 71-apartment count, distributed across the building's stories, produces a range of unit configurations — from smaller pied-à-terre and one-bedroom units through larger 3–4 BR family configurations. The capitalization basis (per the 2021 audit) shows accumulated building improvements of approximately $4.05M relative to a $2.38M original building cost basis — indicating substantial reinvestment over the cooperative's history (lobby modernization, elevator upgrades, exterior restoration work).
Pre-war signatures expected throughout:
- 10-foot ceilings in primary rooms
- Formal entry galleries
- Library-living combinations
- Primary suites with closet infrastructure
- Service infrastructure characteristic of 1920s luxury apartment design
Park Avenue-facing apartments (east exposure) look across the Park Avenue median plantings. 85th Street- or 86th Street-side exposures look across cross-streets to neighboring buildings.
Building operations
1036 Park Avenue operates as a full-service pre-war cooperative under the corporate entity 1036 Park Corporation. Building services are provided by employees under the 32BJ Service Employees International Union (the standard NYC apartment building union), with substantially all building employees covered by the multiemployer Building Service 32BJ Pension Fund.
Current amenities: Full-time doorman, attended elevator, on-site superintendent, private storage bins, shared laundry.
Financial profile (2021):
| Line Item | 2021 |
|---|---|
| Total revenue | $2,768,759 |
| Maintenance charges (shareholders) | $2,407,457 |
| Operating assessment | $206,324 (~$8.01/share) |
| Professional unit commercial rent | $125,709 |
| Storage bin income | $18,235 |
| Real estate taxes | $1,141,304 |
| Total operating cost | $2,752,334 |
| Wages + union + payroll taxes + workers comp | ~$933,000 |
| Mortgage interest expense | $73,293 |
| Net operating position before non-cash | $16,425 |
| Net loss (after depreciation/amortization) | ($129,673) |
The accounting net loss of $129,673 in 2021 reflects substantial non-cash depreciation and amortization charges (~$125,772). The cash-flow position was meaningfully stronger: cash provided by operating activities was $200,793 in 2021, and the cooperative ended 2021 with $642,676 in cash and cash equivalents (up from $523,121 at year-start).
Mortgage structure (as of December 2021):
| Attribute | Detail |
|---|---|
| Lender | National Cooperative Bank (NCB) |
| Original principal | $2,300,000 |
| Interest rate | 2.94% per annum |
| Amortization | 30-year |
| Monthly payment | $9,623 |
| Maturity date | January 1, 2032 |
| Balloon payment due at maturity | $1,759,733 |
| Revolving line of credit | $500,000 (undrawn as of 2021) |
Prepayment terms: Subject to yield maintenance formula or 1% prepayment premium if paid before the 7th-month-from-maturity threshold; tapering to 1% within 4 months of maturity; no premium thereafter.
Operating assessment: The cooperative implemented a recurring operating assessment of approximately $8.01 per share per year, generating ~$206,000 annual additional operating revenue. The assessment offsets the corresponding refund of NYC Cooperative Shareholder Real Estate Tax Abatement Program credits passed through to qualifying shareholders.
Local Law 97
- 2024–2029 annual penalty
- $47,614/yr
- 2030–2034 annual penalty
- $82,720/yr
- Per unit / month range
- $57 – $98
Facade safety — Local Law 11
The facade passed its last inspection with no required repairs — nothing to budget for here, and no facade assessment on the horizon for roughly five years.
QEWI = Qualified Exterior Wall Inspector — the licensed engineer the city requires to sign the report (the independent expert, not the managing agent). Source: NYC DOB facade filings (FISP) · The Roebling Research Library.
See the full facade history →Recent sales
Recent transfers at this building, curated by The Roebling Team research desk. Apartment-level facts are independently verified before publishing; sale prices reflect the recorded transfer amount at the NYC Department of Finance.
| Date | Unit | Apartment | Price | vs. Ask |
|---|---|---|---|---|
| Jul 15, 2022 | 12DE | 5 BR · 4.5 BA Closed Jul 8, 2022 (recorded Jul 12) at $3.8M — 12.64% under the $4.35M asking. 12DE combined — 5BR/4.5BA. **Largest 1036 Park trade in the dataset** and largest discount on a high-end combination — a $550K absolute-dollar gap on the asking number. | $3,800,000 | -12.6% |
| May 10, 2022 | 5D | 2 BR · 2 BA Closed Apr 20, 2022 (recorded Apr 29) at $1.2M — 7.34% under the $1.295M asking. 5D — 2BR/2BA. | $1,200,000 | -7.3% |
| Dec 14, 2021 | 15E | 2 BR · 2 BA Closed Dec 15, 2021 (recorded Nov 18) at $1.4325M — 4.18% under the $1.495M asking. 15E — 2BR/2BA. Upper-floor E-line. | $1,432,500 | -4.2% |
| Mar 26, 2021 | 8C | 2 BR · 2 BA Closed Mar 17, 2021 (recorded Mar 22) at $1.115M — 2.96% under the $1.149M asking. 8C — 2BR/2BA. | $1,115,000 | -3.0% |
| Jan 5, 2021 | 7C | 2 BR · 2 BA Closed Dec 17, 2020 (recorded Dec 29) at $1.075M — 6.52% under the $1.15M asking. 7C — 2BR/2BA. COVID-window trade. | $1,075,000 | -6.5% |
| Aug 31, 2020 | 11D | 1 BR · 1 BA Closed Jul 26, 2020 (recorded Aug 6) at $1.075M — 6.52% under the $1.15M asking. 11D — 1BR/1BA. COVID-window trade — same discount as #7C (Dec 2020) on identical asking number. | $1,075,000 | -6.5% |
| Apr 8, 2019 | 4D | 2 BR · 2 BA Closed Mar 29, 2019 (recorded Apr 5) at $1.15M — 8% under the $1.25M asking. 4D — 2BR/2BA. | $1,150,000 | -8.0% |
| Feb 24, 2017 | 16E | 2 BR · 2 BA Closed Feb 9, 2017 (recorded Feb 23) at $1.475M — 6.35% under the $1.575M asking. 16E — 2BR/2BA. Upper-floor E-line. | $1,475,000 | -6.3% |
Market read. Most recent trades (2014) cleared a median $975/sf across 1 sale. Median listing discount 3.4% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Other recent transfers
| Date | Unit | Price |
|---|---|---|
| Jul 10, 2018 | 12E | $1,375,000 |
| Jul 5, 2018 | 4C | $1,200,000 |
| Aug 21, 2017 | 4C | $575,000 |
| Apr 16, 2013 | 15E | $1,200,000 |
| Jan 12, 2012 | 5E | $1,200,000 |
| May 28, 2008 | 6E | $1,850,000 |
Full closing history with price-per-square-foot over time, the complete retrade record, and every line that has traded.
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-01497-0041) and verified listing data. Apartment-level facts (line, condition, asking-price context) curated and cross-verified by The Roebling Team research desk. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price.
What to know if you’re buying
The 2021 mortgage refinancing is a long-dated financial advantage. The cooperative locked in a 2.94% interest rate through January 2032 — a materially below-market rate by 2026 standards. This produces a meaningful long-term cushion against shareholder maintenance increases and reduces the building's debt service burden relative to peers refinancing in higher-rate environments.
The 2% flip tax is structural. Buyers should expect to pay 2% of the purchase price to the cooperative at closing as a transfer fee. On a $5M purchase, this is $100,000; on a $10M purchase, $200,000. This is in addition to standard closing costs.
The professional unit commercial income reduces maintenance burden. Approximately $125,000–$130,000 annual professional-unit rental income provides a stable supplementary cash flow that offsets shareholder maintenance obligations.
The 32BJ union labor relationship is structurally important. Substantially all building employees are 32BJ-represented; the multi-employer pension plan was at "yellow zone" funding status (under 80% funded) per the 2021 reporting, which creates a multi-employer withdrawal liability exposure that buyers should understand at a high level.
Confirm specific policies directly with management. Current mortgage status, current professional unit lease status (the lease was running through 2024 per the 2021 reporting), pied-à-terre allowance, sublet specifics, pet policy, and current real estate tax abatement should be obtained from management during the contract review process.
Board approval follows tier-one Carnegie Hill / Lenox Hill border norms. Strong financial profile, professional accomplishment, primary-residence intent, and standard Park Avenue board package requirements.
Renovation is constrained by historic district status. The building's position in the Expanded Carnegie Hill Historic District means LPC oversight on any exterior work. Interior renovations require Alteration Agreement and board review.
What to know if you’re selling
The financial position is a marketing asset. Listing copy should reference the 2021 refinancing (low rate locked through 2032), the recurring professional-unit commercial income, and the established capital reserve as evidence of the building's financial discipline.
Pricing requires apartment-level comparable analysis. Floor altitude, exposure, configuration, and renovation history all matter substantially.
The 2% flip tax is paid by the purchaser (per typical Park Avenue convention) — but sellers should factor it into their pricing strategy as it represents an additional cost for prospective buyers.
Closing timelines are co-op standard. 6–10 weeks from contract signing to closing.
Comparable buildings
If you're considering 1036 Park Avenue, also evaluate:
- 1040 Park Avenue — Delano and Aldrich 1925; immediate neighbor north at the Park / 86th corner
- 1020 Park Avenue — nearby Carnegie Hill peer
- 1000 Park Avenue — Emery Roth 1916; nearby pre-WWI peer two blocks south
- 1050 Park Avenue — Carnegie Hill peer
- 1075 Park Avenue — Blum brothers 1929; Carnegie Hill peer
- 1133 Park Avenue — Schwartz & Gross 1928; Carnegie Hill peer
- 1185 Park Avenue — Schwartz & Gross 1929; Carnegie Hill peer with distinctive courtyard plan
The Roebling Team at 1036 Park Avenue
The Roebling Team at Compass specializes in Central Park West, the Upper East Side, and the broader Park-facing Manhattan market. We publish this building profile because Park Avenue Carnegie Hill buyers and sellers deserve building-specific intelligence — architecture, board culture, financial structure, transactional mechanics, and pricing at the apartment level — not generic market commentary.
We hold first-party documentation on 1036 Park Avenue, including a multi-year financial statement series (2016, 2017, 2018, 2019, 2021) prepared by Newman, Newman & Kaufman, LLP, plus the 2022 budget forecast. This level of building-level financial transparency allows us to advise buyers and sellers with substantially greater accuracy than building-name-recognition alone permits — particularly on the implications of the building's 2021 mortgage refinancing, its professional-unit commercial income, its flip tax structure, and its ongoing operating assessment regime.
If you're considering a purchase or sale at 1036 Park, a 30-minute consultation is the right starting point.
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