165 East 62nd Street

The tax lot measures 4,759 square feet in PLUTO, in the R8B contextual district that governs most of Lenox Hill's side streets. The building is constructed to a 3.54 FAR against a 4.00 residential allowance — close to, but not at, the district ceiling.

The composition is a townhouse pair read as one building. The lower floors retain the scale and rhythm of the original houses; the added floors are set back from the original cornice line, which is the move that lets a seven-story building sit on a street of four- and five-story houses without shouting. Above the base, glass area increases and the penthouses open to terraces.

Ten residences across seven floors: two duplex townhouse residences at the base, designated TH-E and TH-W, each with direct access and private outdoor space; half-floor residences east and west on the third, fourth and fifth floors; and two full-floor penthouses, PH-6 and PH-7. There is no commercial component and no retail unit — this is a purely residential condominium, which is uncommon in new Manhattan inventory at this size and simplifies the common-charge picture considerably.

Because the lower residences occupy adapted structure and the upper ones occupy new construction, ceiling heights, window proportions and layout logic are not consistent from bottom to top. That variance is the building's defining characteristic in a floor plan and the main reason a building-average price per square foot is not a useful instrument here.

165 East 62nd Street runs as a small full-service condominium: attended lobby, fitness center, children's playroom, bicycle storage and a common roof deck. Ten households is a thin base for staffed lobby coverage and a serviced roof, and the operating budget should be read with that in mind rather than the amenity list.

The building is also at the stage where a hybrid old-and-new structure begins to declare itself. The upper floors and the envelope are five years old; the lower structure is not. Ask for the Local Law 11 façade filing status, any waterproofing history at the roof and terraces, the reserve position, and whether the sponsor retains any interest or obligations. The first temporary certificate of occupancy issued in November 2020 and was renewed in January 2021; confirm that a final certificate of occupancy has since been issued, because temporary certificates on an alteration of this type sometimes run for years.

The house at 165 East 62nd Street was for many years the home of the actress Brooke Shields, who bought it in 1982 and sold it in 1998. The connection was widely reported in the real-estate press when the property and its neighbor at 163 were assembled for development in 2015. She has no connection to the condominium that now occupies the site.

Ownership form: Condominium. Transfers close through a board right of first refusal rather than a cooperative approval, which is a meaningful advantage on a street otherwise dominated by cooperative inventory with full board packages and interviews.

Pied-à-terre, subletting, LLC, trust and foreign ownership: Permitted under the standard condominium framework. Minimum lease terms should be confirmed with the managing agent.

Pets and flip tax: Not documented in public records. Confirm both with the managing agent before pricing an offer or a sale.

Real estate taxes: No exemption or abatement of any kind. Model the actual current bill on the specific unit; there is no phase-out schedule to project.

Landmark constraint: None. Exterior alterations here do not require a Certificate of Appropriateness. Adjacent lots to the east are likewise outside the district, which is worth understanding before assuming any exposure is permanent.

Recent sales

Recent closings at this building, curated by The Roebling Team research desk. 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.

Market read. Most recent trades (2022) cleared a median $1,819/sf across 1 sale.

Sales sourced from NYC Department of Finance recorded transfers (BBL 1-01397-7506) 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 from recorded condo declarations and offering plans.

This is an enlargement, not new construction. The record is unambiguous: the new-building application for this site was disapproved, and an Alteration Type 1 raising two existing four-story houses to seven stories is what was permitted and built. Read the building's capital and structural picture accordingly, and do not underwrite it as a 2021 ground-up.

PLUTO's 1910 is correct about the fabric. It is not a data error. It refers to the houses that are still standing inside the building.

Confirm the certificate of occupancy. The alteration was occupied under a temporary certificate from November 2020. Verify the current status before contract.

Underwrite full taxes and a small denominator. No abatement, ten households, a staffed lobby and a roof deck. That combination is the monthly number, and it is not offset by anything.

Nothing here is landmarked. That is why the building could be built, and it is also why the block can keep changing. Establish what is developable next door before valuing an exposure.

Walk the lower floors and the upper floors on the same visit. The difference between adapted pre-war structure and new construction is legible in person and invisible on a floor plan.

Get ahead of the 1910 date. Automated valuation output and casual buyer research will read this as a pre-war building. The recorded declaration date, the DOB alteration record and the 2021 closing dates are the correcting documents.

Sell the condominium structure. On a street of prewar cooperatives, a right-of-first-refusal transfer, permitted subletting, and LLC and foreign ownership are the building's most portable advantages.

Price by tier. Townhouse duplex, half-floor and penthouse are three different markets inside a ten-unit building. Building averages will misprice all three.

Be direct about the tax posture. Full unabated taxes presented up front, paired with a True Monthly Carrying Cost analysis, produce better outcomes than letting a buyer's analyst find them in week three.

If you're considering 165 East 62nd Street, also evaluate:

• 249 East 62nd Street — The Treadwell; ground-up new condominium on the same street, the closest peer by vintage
• 200 East 62nd Street — a 2015 condominium conversion of a 1960s rental; the larger full-service alternative on the corridor
• 166 East 63rd Street — Beekman Townhouse; the mid-century condominium alternative one block north
• 127 East 64th Street — a five-story townhouse divided into four condominium residences; the closest structural analogue for townhouse-scale condominium ownership
• 130 East 63rd Street — larger postwar condominium; the full-service alternative at scale
• 201 East 62nd Street — 1962 cooperative from inception; the co-op alternative on the same street
• 175 East 62nd Street — The Victorian; a ground-lease cooperative on the same block, with entirely different economics
• 116 East 63rd Street — 1914 cooperative converted from rental in 1948; the prewar co-op comparison
• 125 East 63rd Street — Colonial Mews; the small prewar cooperative alternative nearby
• 139 East 63rd Street — Beekman Estate; the postwar cooperative alternative one block north