Carnegie Tower (115 East 87th Street)

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.

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.

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.

Market read. Most recent trades (2026) cleared a median $1,599/sf across 1 sale. Median listing discount 3.0% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.

Sales sourced from NYC Department of Finance recorded transfers (BBL 1-01516-7502) 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; square footage on co-ops is not officially recorded, figures shown are approximate.

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.

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.

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

The Roebling Team at Compass works Carnegie Hill and the broader Upper East Side as a core practice area. We publish this profile because a co-op's value lives in its rules — the flip-tax structure, the financing maximum, the pied-à-terre and sublet policies — and those are exactly the facts a generic building description misses.

If you're considering a purchase or sale at Carnegie Tower, a 30-minute consultation is the right starting point. We'll bring same-room comparables, the full carrying-cost picture, and a plain-language walk-through of the board framework and flip tax that define this building.