1172 Park Avenue
1172 Park Avenue, New York, NY 10128
Carnegie Hill, Upper East Side
BBL 1015040040 · BIN 1047075
- Year built
- 1926
- Type
- Cooperative
- Floors
- 15
- Flip tax
- 2% of sale price, buyer-paid
- Financing
- Up to 67% financeable (33% minimum down).
Compiled by The Roebling Research Desk from the building’s offering plan, amendments, and related building documents (primary source dated 2026). Board policies can change by amendment — confirm at the offer stage.
Every recorded sale at this building, 2003–2025
Bedroom-by-bedroom medians, the full transfer record, and how units trade against ask.
- 3BR median
- $2.5M
- Recent range
- $1.3M – $8.2M
- Listing discount
- 2.6%
- Recorded transfers
- 27
1172 Park Avenue is the second Rosario Candela / Michael E. Paterno collaboration, anchoring one of the architecturally most significant blocks in Manhattan and home to one of the most architecturally consequential literary residents in the city's residential history. The 1926 Candela commission sits directly across East 93rd Street from the George F. Baker Jr. House complex at 75 East 93rd Street (originally Francis F. Palmer's 1916 Delano & Aldrich Georgian mansion, expanded for banker George F. Baker Jr. with ballroom wing and courtyard; now the Synod of Bishops of the Russian Orthodox Church Outside Russia). The adjacent East 93rd Street townhouse fabric includes the 1932 Adamesque mansion by Walker & Gillette that was theater producer Billy Rose's residence, later the Smithers Alcoholism Treatment Center, now part of the Spence School campus.
Architecture and cultural history converge at 1172 Park. The Candela / Paterno architect-developer pedigree produced 45-foot-plus entrance galleries and apartment layouts among the most architecturally significant in Carnegie Hill — while the Ira Levin literary anchor gives the building one of the most documented author-resident histories of any pre-war Park Avenue cooperative.
Architecture and unit composition
Rosario Candela (1890–1953) emigrated from Sicily in 1909, graduated Columbia's School of Architecture in 1915, and by age 33 was the dominant designer of luxury apartment buildings on the Upper East Side. His Park Avenue body of work includes 720 Park Avenue (1929), 740 Park Avenue (1930), 765 Park Avenue (1927), 770 Park Avenue (1930), 778 Park Avenue (1931), 1021 Park, 1105 Park, 1172 Park (1926), 1192 Park (1926), and 1220 Park — ten commissions concentrated within a six-year window that produced the architecturally most consequential body of pre-war Park Avenue cooperative inventory.
Elizabeth Hawes's New York, New York: How the Apartment House Transformed the Life of the City (1869–1930) (Henry Holt, 1993) documents Candela's planning grammar: he "designed buildings from the inside out," placing windows "where they received light, balanced a room, or allowed a graceful arrangement of furniture," and "added duplicate water connections to street mains and multiple switches for ceiling lights as well as beautifully turned staircases and separate wine cellars." Hawes quotes Candela inverting the conventional design hierarchy: "Candela also invested unusual energy in the entry hall. In a typical apartment, he made it a full-sized room with rich views into the interior because he thought it was important to greet a visitor with a full sense of a home."
Michael E. Paterno — with Anthony Campagna and Vincent Astor — was one of the three dominant luxury apartment developers of 1920s Manhattan. Paterno's first Candela commission was 1105 Park Avenue (1923) — Candela's first Upper East Side apartment building, a 14-story Renaissance Revival with a "seven-room roof garden apartment" that was the first penthouse on Park Avenue. 1172 Park (1926) was the second Paterno / Candela commission; the firm's most famous subsequent collaborations — 720, 740, 778 Park, plus 834 Fifth Avenue — followed.
Architectural records describe 1172 Park as "an attractive apartment building" on one of the city's most impressive blocks. The architectural detail at the building exterior is structurally distinct from peer Candela work. The light tan brick body sits on a two-story rusticated limestone base. The canopied entrance is one step up with an arched surround, a sculpted tympanum, and large flanking light sconces. A bandcourse separates the rusticated base from the plain limestone third story; another runs beneath the top floor. The Carnegie Hill Neighbors Architectural Guide, which architectural records reference in the architectural record, documents the cornice ornamentation with characteristic specificity:
"Close inspection — binoculars are suggested — reveals spouts with alternating lions' and rams' heads, guarding their turf at the top of the building."
The Twelve-Room Penthouse and Dorothy Whitney Elmhirst
James Trager's Park Avenue, Street of Dreams (Atheneum, 1990) records 1172 Park's original penthouse configuration and its 1927 sale:
"The twelve-room penthouse had fourteen-foot ceilings and a living room thirty-two feet long; its first owner, Mrs. William Amory, sold it in the spring of 1927 to Mrs. Leonard K. Elmhirst, the former Mrs. Willard Straight (née Dorothy Whitney, sister of Harry Payne Whitney, sister-in-law of Gertrude Vanderbilt Whitney)."
Dorothy Payne Whitney Straight Elmhirst (1887–1968) was the youngest child of William C. Whitney; she co-founded The New Republic magazine in 1914 with her first husband Willard Straight, and after Straight's 1918 death married Leonard K. Elmhirst in 1925. The couple purchased Dartington Hall — a 2,000-acre estate in Devon, England — and founded the Dartington Hall progressive school, which hosted lectures by Bertrand Russell and Aldous Huxley. Her son Whitney Straight became deputy chairman of Rolls-Royce Ltd.; her daughter Beatrice Straight won the 1976 Academy Award for Best Supporting Actress for Network. Her New York Times obituary (December 16, 1968) described her as "considered a great beauty and a leading figure in the New York social world" who "led marches for women's suffrage" and as president of the New York Junior League "tried to keep alive in the privileged members of society the sense of responsibility for those less fortunate than themselves."
Current apartment composition
The 1172 Corporation's original 1926 plan held just 26 large apartments — most 11- or 12-room configurations with 5 baths. The 1956 cooperative conversion and subsequent reconfigurations expanded the unit count to 51 by 1965 and to approximately 46–52 today. Apartment-level features carry the substantial Candela planning grammar — long entrance galleries (Apartment 12B at 1192 Park parallel shows 42-foot entrance galleries; comparable scale at 1172), well-segregated formal-and-service circulation, generous room proportions, and wood-burning fireplaces in many units.
Building operations
1172 Park operates as a full-service Carnegie Hill cooperative under the 1172 Corporation. The operational baseline includes:
- 24-hour doorman
- Live-in superintendent
- Fitness center
- Resident storage (rented separately)
- Bicycle room
- Two maisonettes / professional offices with entrances directly on Park Avenue — a structural commercial-revenue feature uncommon among peer Candela cooperatives
- In-unit washer/dryer permitted
- Protruding through-wall air-conditioner units permitted (one of the few exterior policy points where 1172 differs from peer Candela cooperatives)
The building does not carry an on-site garage, balconies, or roof deck.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $18,316/yr
- Per unit / month range
- $0 – $33
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 before the next inspection cycle. The scope, timeline, and how the building funds the work are building-specific — we review the filings and board materials for you.
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 →Management & transfer contacts
- Flip tax
- 2% of the sales price (Seller, at closing)
- Notable fees
- Transfer fee $850; Move-In Fee $250; Move-Out Fee $250; Application Processing Fee $700; Max financing 67%
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 | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Aug 5, 2025 | 3AC | 4 BR · 4.5 BA | $8,200,000 | +4.5% | |
| Dec 4, 2023 | 3B | 3 BR · 3 BA | $2,325,000 | -5.1% | |
| Oct 19, 2023 | 6D | 2 BR · 2 BA | $1,290,000 | -2.6% | |
| Mar 15, 2023 | 9A | 3 BR · 3 BA · 2,000 sf | $2,650,000 | $1,325/sf | -3.6% |
| Jan 27, 2022 | 12D | 2 BR · 2 BA | $2,050,000 | -10.5% | |
| Sep 8, 2021 | 3D | 2 BR · 2 BA | $1,040,000 | -9.6% | |
| Jul 23, 2021 | 12B | 2 BR · 2.5 BA | $1,100,000 | +0.0% | |
| Oct 21, 2019 | 8B | 3 BR · 4 BA · 3,200 sf | $4,386,000 | $1,371/sf | -32.5% |
Market read. $/sf is measured on the latest sales with reliable square footage (2023): a median $1,325/sf across 1 sale. The building has traded as recently as 2025. Median listing discount 4.3% 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 1-01504-0040) 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.
What to know if you’re buying
The Candela / Paterno architect-developer pedigree is structural. The second commission of the partnership that would produce 720 Park, 740 Park, and 778 Park; among the most consequential pre-war Park Avenue collaborations.
The 65 percent maximum financing is structurally distinguishing. Materially more permissive than peer Candela cooperatives; the broader transaction structure supports a wider buyer pool than peer trophy Park Avenue inventory.
The affirmative pied-à-terre permission is unusual for Candela. Most Candela cooperatives restrict pied-à-terre ownership; 1172 Park's permissive structure supports pied-à-terre buyers, international purchasers, and the broader buyer demographic that peer Candela inventory does not.
The Ira Levin literary anchor is real cultural history. Verified through, the Observer, and Levin's New York Times obituary; the literary association is a real institutional credential.
The block context is exceptional. Across East 93rd Street from the Synod of Bishops headquarters / George F. Baker Jr. House complex; the Walker & Gillette 1932 Adamesque mansion (Billy Rose's former residence, now Spence School); the dense Carnegie Hill institutional fabric.
The two ground-floor maisonette / professional offices produce structural commercial revenue. A structurally meaningful financial feature.
Verify operational specifics during due diligence. Specific board approval framework, sublet duration limits, post-closing liquidity threshold, current capital project pipeline, and the LL11 façade cycle on the 1926 vintage should be reviewed against current management documents.
Closing timelines are cooperative-standard. Plan for 6–10 weeks from contract through board approval to closing.
What to know if you’re selling
Marketing should lead with the Candela / Paterno credential and the Ira Levin literary anchor. Both are structurally specific identity features documented in primary sources.
The 65 percent financing accessibility expands the buyer pool meaningfully. Materially more permissive than peer Candela cooperatives; marketing should reach the broader buyer demographic the policy framework supports.
The pied-à-terre permission is a real buyer-pool-expansion feature. Pied-à-terre buyers — international, second-residence, institutional — should be reached specifically.
Pricing should reference recent comparable closings. The $1,545 per square foot The recorded average is the highest among peer Carnegie Hill cooperative inventory in this study set; the Unit 11BD $6,750,000 contract provides recent upper-tier reference.
Closing timelines are cooperative-standard.
Comparable buildings
If you're considering 1172 Park Avenue, also evaluate:
- 740 Park Avenue — Candela / Cross & Cross 1930; trophy pre-war Park Avenue cooperative
- 720 Park Avenue — Candela 1929; trophy pre-war Park Avenue cooperative
- 770 Park Avenue — Candela 1930; pre-war Park Avenue trophy peer
- 778 Park Avenue — Candela 1931; pre-war Park Avenue trophy peer
- 765 Park Avenue — Candela 1927; pre-war Park Avenue peer
- 1175 Park Avenue — Emery Roth 1925; nearby Carnegie Hill peer
- 1185 Park Avenue — Schwartz & Gross 1929; nearby Carnegie Hill peer
Sources: The Roebling Research Library (offering plans, house rules, financial statements, board minutes, internal transaction records); NYC Department of Finance recorded transfers; publicly recorded NYC building data.
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Park Avenue — read The Roebling Team Guide to Park Avenue.
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.
Considering a move at 1172 Park Avenue?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 1172 Park Avenue 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.