Carnegie Tower (115 East 87th Street)
115 East 87th Street, New York, NY 10128
Carnegie Hill, Upper East Side
BBL 1015167502 · BIN 1048043
- Year built
- 1972
- Type
- Cooperative
- Units
- 198
- Floors
- 38
- Landmark
- No
- Pets
- Permitted
- Financing
- Up to 75 percent — confirm current maximum with the managing agent
- Flip tax
- 1 percent of the gross sale price plus 2 percent of profit, seller-paid — confirm current terms at offer stage
Every recorded sale at this building, 1999–2026
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf (floor-adjusted)
- $1,646
- Listing discount
- 1.4%
- Recorded sales
- 158
- On record
- 1999–2026
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at Carnegie Tower would likely sell for today, what it costs to sell, and what you’d walk away with — reviewed personally against condition, exposures, renovation quality, and the competition actually on the market.
Carnegie Tower is the flexible full-service co-op of central Carnegie Hill — a 38-story beige-brick tower off Park Avenue, built in 1972 and converted to a cooperative in 1986, that pairs a full-service address two blocks from Central Park with a policy framework accommodating for the neighborhood: pieds-à-terre are permitted, financing runs to roughly 75 percent, and pets are welcome. In a corridor of strict pre-war co-ops, that flexibility is the building's defining feature.
The building's value proposition is location plus livability at a co-op price. It sits mid-block between Park and Lexington, deep enough off the avenues to be quiet, with a large landscaped fifth-floor wraparound terrace that gives residents genuine outdoor common space — a rarity in the pre-war co-op stock nearby. The 38-story height delivers open Carnegie Hill and, on the upper floors, city and park-direction sightlines that the surrounding low-rise brownstone context cannot. Priced per room in the co-op tradition, it is a value entry into one of Manhattan's most sought-after residential neighborhoods, with maintenance that brokers consistently cite as a selling point.
The mixed-use structure is worth understanding plainly: the residential tower rises over a base that contains a public school, entered separately from East 88th Street. That is the reason for the building's mixed residential/commercial tax class, and it is a fact for buyers to note rather than a concern — the school and the residences operate independently.
Architecture and unit composition
Carnegie Tower is a beige-brick midblock tower of the early 1970s, set back deeply from the side streets and grounded by a landscaped, canopied entrance. Its most distinctive residential feature is the large landscaped wraparound terrace on the fifth floor — a full-service common amenity that most Carnegie Hill co-ops lack. We do not carry an architect or developer attribution for the building because public records do not firmly document one, and we decline to guess.
The 198 residences run from studios and one-bedrooms — which dominate the stock and, priced per room, are the building's currency — through two- and three-bedroom homes. Layouts are efficient early-1970s co-op plans: defined entries, separated kitchens, and generous closets that renovate well. The upper floors carry the widest light and the strongest exposures.
Building operations
Carnegie Tower operates as a full-service cooperative: a 24-hour doorman, a concierge, a live-in superintendent, the landscaped fifth-floor terrace, a laundry room, a bike room, private storage, an on-site valet parking garage, a package room, and an interior courtyard. Management runs the building on a moderate maintenance basis that brokers consistently credit — a function of disciplined operations rather than large commercial income. Buyers should review the financials, the reserve position, and any assessment during diligence, and confirm the current flip tax, sublet terms, financing maximum, and pied-à-terre policy with the managing agent — these are the building's most important transactional facts and can drift over time.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $0 (under cap)
- Per unit / month range
- —
Source: NYC LL84 benchmarking and PLUTO · The Roebling Research Library. City record last verified September 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →Facade safety — Local Law 11
The latest available filing classified the facade as SWARMP — Safe With A Repair and Maintenance Program: the engineer identified conditions requiring monitoring or repair, with repairs due by the deadline stated in the filing. The scope, timeline, and how the building funds the work are building-specific — we review the filings and board materials for you.
How to read this, and where it comes from
QEWI = Qualified Exterior Wall Inspector — the licensed engineer the city requires to sign the report (the independent expert, not the managing agent).
Penalties shown are amounts DOB assessed against filings on record across 2005–10 to 2020–25. The FISP dataset does not record whether they were paid, contested or remain open, so treat the figure as history rather than a current balance and confirm the building’s standing with the managing agent.
Source: NYC DOB facade filings (FISP) · The Roebling Research Library. City record last verified September 2026.
Management & transfer contacts
- Flip tax
- 1% of gross purchase price PLUS 2% of profit (seller); original contract of sale required to determine amount
- Sublet policy
- Allowed pending board approval; sublet fee 10% of monthly maintenance (billed monthly); sublet renewal subtenant app $250
- Pied-à-terre
- Allowed
- Notable fees
- App processing $700; credit report $325/person; closing $850 ($1,100 other location); financing fee $400; rush review $500; alteration $250-$2,500. Max financing 75%
Recent sales
Carnegie Tower trades as an accessible, flexible full-service Carnegie Hill co-op, priced per room, where the moderate maintenance and the unusually permissive rules drive absorption. Studios and one-bedrooms are the most liquid stock; upper floors and the strongest exposures carry a premium. The pied-à-terre and roughly 75-percent-financing flexibility widen the buyer pool relative to the strict pre-war co-ops nearby. Recorded sales auto-populate from public records; unit-level history and current same-line comparables are maintained in The Roebling Research Library and shared with clients during diligence. Because the building is priced per room, same-room-count comparables — not blended per-foot figures — are the correct analytical unit.
Recent transfers at this building, from The Roebling Research Library. Prices are the transfer amounts recorded with the NYC Department of Finance; apartment-level detail is checked against the building’s own file in The Roebling Research Library before publishing.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Jul 16, 2026 | 38F | 2 BR · 2 BA | $2,600,000 | -3.5% | |
| Apr 14, 2026 | 18A | 3 BR · 2 BA · 1,400 sf | $2,150,000 | $1,536/sf | -6.3% |
| Jan 29, 2026 | 20EF | 4 BR · 4 BA | $3,525,000 | +0.0% | |
| Oct 14, 2025 | 11C | 2 BR · 1,400 sf | $2,100,000 | $1,500/sf | -5.6% |
| Aug 27, 2025 | 26B | 1 BR · 1.5 BA · 1,000 sf | $1,310,000 | $1,310/sf | -3.0% |
| Jul 22, 2025 | 10B | 1 BR · 1.5 BA | $1,295,000 | +0.0% | |
| Jul 11, 2024 | 33E | 2 BR · 1.5 BA · 1,000 sf | $1,325,000 | $1,325/sf | +0.0% |
| Jul 2, 2024 | 17BC | 3 BR · 4 BA · 2,400 sf | $3,300,000 | $1,375/sf | -2.8% |
Market read. Most recent trades (2026) cleared a median $1,646/sf (floor-adjusted) across 1 sale. Floor-adjusted means each sale is restated to a constant mix of floors, so the figure can differ from the plain median of the sales listed above. Median listing discount 1.4% 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.
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 1-01516-7502). Apartment-level facts (line, condition, asking-price context) curated and cross-verified in The Roebling Research Library. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price; square footage on co-ops is not officially recorded, figures shown are approximate.
At the recent median sale of $2.15M (6 transfers since 2024), a buyer putting 25% down would pay about $41,425 to close, or 1.9% of the price.
- Mansion tax: $26,875
- No mortgage recording tax or title insurance on a co-op purchase
- Attorneys, lender, building fees and filings: $14,550
Assumes a resale (the seller pays transfer taxes), a $4,500 attorney fee and a mortgage on the rest.
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What to know if you’re buying
The flexibility is the reason to be here. Pieds-à-terre and roughly 75 percent financing are unusual for a Carnegie Hill co-op and widen your options materially. Confirm the current pied-à-terre policy, financing maximum, and sublet terms in writing — co-op postures drift. Run the Co-op Board Qualification Calculator before offering.
The flip tax shapes your basis. The seller-paid flip tax — 1 percent of the gross price plus 2 percent of profit — is a specific structure; confirm the current terms, as it affects both sides of a future trade.
Price per room, and buy the floor. As a per-room co-op, the studios and one-bedrooms are the currency; upper floors carry the light. Use same-room-count comparables. Run the True Monthly Carrying Cost Calculator on the unit.
Note the mixed-use base. The residential tower sits over a public school entered from 88th Street. The two operate independently; it explains the building's tax class and is a fact to understand, not a concern.
What to know if you’re selling
Sell the flexibility and the terrace. The pied-à-terre policy, the roughly 75 percent financing, and the landscaped fifth-floor terrace are the differentiators against the strict pre-war co-ops nearby. Market them directly.
Sell the carry. Moderate maintenance in central Carnegie Hill is a headline buyers respond to. Document it.
Position the flip tax honestly. The seller-paid 1-percent-plus-2-percent structure should be built into pricing strategy from the start. Run the Seller Closing Cost Calculator before listing.
Price per room and by floor. Studios and one-bedrooms are the liquid stock; upper floors carry premiums. Use the right comparable set.
Comparable buildings
If you're considering Carnegie Tower, also evaluate:
- The Lucida (151 East 85th) — full-service Carnegie Hill condominium nearby; the condominium alternative with deeper amenities
- 180 East 88th Street — the slim new-development condominium tower nearby; the new-construction alternative
- Astor Terrace (245 East 93rd) — SOM-designed condominium with a private park; the condominium alternative to the north
- Carnegie Park (200 East 94th) — Related condominium with a private park; the amenity-condominium alternative
- 1250 Third Avenue — full-service Third Avenue condominium; the corridor peer
- 400 East 85th Street — Yorkville building to the east; the value alternative
More Upper East Side buildings
- 114 East 90th Street — 1925 co-op
- 115 East 86th Street — 1928 co-op
- 115 East 90th Street — 1923 co-op
- 116 East 63rd Street — 1914 co-op
- 117 East 72nd Street — 1928 co-op
- Plaza Tower (118 East 60th Street) — 1963 co-op
The neighborhood
For the full corridor — architecture, transit, and pricing across Upper East Side — read The Roebling Team Guide to Upper East Side.
The full playbook — what goes in the package, how boards read your financials, the interview, and the timeline — plus sample cover, reference, and personal letters you can adapt.
How to read the facts on this page. Items attributed to an offering plan describe the building as it was offered at that filing — unit mix, square footage, the amenity program as planned. They are not a statement about how the building operates today. Tax and compliance figures are sourced separately to current City records and carry their own dates. House rules, staffing and fee policy can change by board resolution without any public filing: treat every policy line here as a starting point for diligence and confirm it with the managing agent. Where this page compares one building or neighborhood to another, that is our analysis of the recorded record — it names the measure, the period and the sample it rests on, and it is an observation about medians rather than a prediction about any particular apartment.
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