175 East 62nd Street (The Victorian)
175 East 62nd Street, New York, NY 10065
Lenox Hill, Upper East Side
BBL 1013970033 · BIN 1042050
- Year built
- 1963
- Type
- Cooperative
- Units
- 70
- Floors
- 20
- Landmark
- No
- Amenities
- 24-hour doorman, on-site parking garage, central laundry, private storage, bike room, live-in superintendent, central air conditioning; in-unit washer/dryers permitted; utilities included in maintenance per listing records; no gym, no concierge
- Pets
- Permitted — under 60 pounds per listing records
- Financing
- Listing records indicate approximately 50 percent minimum down — verify current requirements with the managing agent
- Flip tax
- 3 percent of purchase price, payable by the purchaser, per listing records
Every recorded sale at this building, 2003–2026
Bedroom-by-bedroom medians, the full transfer record, and how units trade against ask.
- 2BR median
- $845K
- Recent range
- $280K – $1.1M
- Listing discount
- 4.6%
- Recorded transfers
- 69
The Victorian is one of the clearest case studies in Manhattan's most misunderstood asset class: the land-lease co-op. The building itself is straightforwardly attractive — a 1963 Resnick & Green tower of roughly four apartments per floor, many over 2,000 square feet, with terraces, an on-site garage, and a 24-hour doorman, on a prime Lenox Hill corner. What sets its pricing is the ground beneath it: the cooperative owns the building but leases the land under a 1960 ground lease, and the resulting dollars-per-square-foot — recently in the $500s and $600s per listing records — run at roughly half the level of comparable conventional Lenox Hill co-ops. The discount is not an inefficiency. It is compensation for ground rent and lease-term risk, and buyers who underwrite it correctly have bought more apartment per dollar than almost anywhere else on the Upper East Side.
Here is where this page differs from the listing-site version of the building: The Roebling Research Library holds the actual ground lease and all three of its amendments, and the documents tell a more precise story than the market shorthand. The lease dates to November 30, 1960, and runs on successive ten-year renewal options; the current renewal term extends through November 30, 2030, and the remaining options carry the lease to a final expiration of November 30, 2059. The "2047" and "through 2099" dates that circulate in brokerage records do not match the executed documents on file. The amendments also fix the economics: annual ground rent of $2,463,544 as of the lease year beginning December 1, 2020 — escalating each year with CPI — which across roughly 70 apartments explains both the utilities-included maintenance levels and the per-foot discount.
The documents also record a stress episode buyers should understand rather than fear. In early 2020 the fee owner served default and termination notices over unpaid rent and sued the cooperative in New York County Supreme Court; the November 2020 Second Amendment settled the dispute, discontinued the litigation, restructured roughly $800,000 of deferred rent, and — critically — confirmed the renewal through 2030 after the co-op missed its renewal-notice deadline. The September 2021 Third Amendment consolidated $1,002,000 of deferred amounts into 36 monthly installments running through May 2025. This is exactly the material an attorney needs at offer stage, and we provide it to clients from the documents themselves.
Architecture and unit composition
Resnick & Green's design is better than the land-lease discount implies: a beige-and-white brick tower on a polished black granite base, with bay windows that animate the facade, setbacks that create terraces on the upper floors, and duplex units with wraparound outdoor space at the top of the building. With only about four apartments per floor, the building lives like a boutique despite its 20 stories.
The apartments are the draw — large post-war layouts, many exceeding 2,000 square feet, with windowed kitchens, walk-in closets, oversized living rooms, and central air conditioning. Combinations have reduced the nominal 70-unit count in practice. In-unit washer/dryers are permitted, terraces and balconies recur through the stack, and the Third Avenue corner gives east and south exposures long light.
Building operations
Full-service in the essentials: 24-hour doorman, live-in superintendent, on-site attended garage, central laundry alongside in-unit laundry rights, storage, and bike room — but no gym and no concierge. Maintenance includes utilities per listing records and, structurally, the shareholders' ground-rent obligation; both facts must be kept in view when comparing monthly numbers against conventional co-ops, where maintenance excludes ground rent but the purchase price is double per foot. The cooperative's 2020 and 2021 audited financial statements are on file in The Roebling Research Library along with the complete lease file.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $64,455/yr
- Per unit / month range
- $0 – $77
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
- 3% of gross purchase price (buyer)
- Sublet policy
- Sublet fee = 1 month maintenance per year rented; app fee $1,000; exit fee $1,000
- Notable fees
- Max financing 75%; closing fee $700 w/broker or $750 w/o
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 |
|---|---|---|---|---|---|
| Apr 20, 2026 | 17A | 2 BR · 2.5 BA · 1,700 sf | $875,000 | $515/sf | -7.9% |
| Sep 3, 2025 | 8B | 1 BR · 1.5 BA · 1,100 sf | $518,000 | $471/sf | -1.3% |
| May 19, 2023 | 3A | 3 BR · 3.5 BA · 1,880 sf | $900,000 | $479/sf | +0.1% |
| Apr 11, 2023 | 2A | 3 BR · 3.5 BA | $1,085,000 | off-mkt | |
| Mar 23, 2023 | 7A | 2 BR · 2.5 BA · 1,800 sf | $814,600 | $453/sf | off-mkt |
| Apr 1, 2022 | 18B | 2 BR · 1.5 BA · 1,086 sf | $895,000 | $824/sf | -8.2% |
| Mar 30, 2022 | 18B | 2 BR · 1.5 BA · 1,086 sf | $650,000 | $599/sf | -10.3% |
| Mar 8, 2022 | 5A | 3 BR · 3.5 BA · 2,000 sf | $1,900,000 | $950/sf | -23.8% |
Market read. Most recent trades (2026) cleared a median $548/sf across 1 sale. Median listing discount 7.1% 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 1-01397-0033) 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
Underwrite the lease, not the lore. The single most important document in your diligence is the ground lease — and the dates circulating in listing records are wrong. The executed documents on file show the current term through November 30, 2030, renewal options to November 30, 2059, and CPI-escalating ground rent from a $2.46 million base. Your attorney reads the lease; we supply it.
The discount is the compensation. You are buying more square footage per dollar than conventional Lenox Hill allows, in exchange for ground-rent exposure and a finite lease horizon. Model maintenance growth honestly with the True Monthly Carrying Cost Calculator before comparing against fee-simple alternatives.
Financing is the practical constraint. Land-lease co-ops carry a thinner lender list and listing records indicate roughly 50 percent minimum down. Cash and low-leverage buyers have a structural advantage here; run the Co-op Affordability Calculator against your actual liquidity.
The board posture is genuinely flexible. Pieds-à-terre, overseas buyers, co-purchasing, and sub-60-pound pets are all workable per listing records — a combination nearly unavailable in conventional co-ops at this address quality. Confirm specifics with the managing agent at offer stage.
Price the fee stack. The 3 percent purchaser-paid flip tax is large relative to this building's price points — on a $1 million purchase it is $30,000 — and belongs in your offer math alongside closing costs.
Watch the 2030 milestone. The next renewal decision and any rent reset negotiation will shape building economics and resale liquidity through the late 2020s. The 2020–21 episode shows both that disputes can arise and that they can be resolved; ask us for the current status when you offer.
What to know if you’re selling
Disclose forward, not backward. Land-lease deals die in diligence when the lease file surprises the buyer's attorney late. We put the lease, amendments, and financials in front of serious buyers' counsel early — from the documents on file — which keeps contracts moving.
Price against land-lease comparables only. Conventional Lenox Hill $/sf is irrelevant here. The honest comp set is the city's other ground-lease co-ops, adjusted for this building's documented terms and the 2030 horizon.
Market the structure's upside. Flexible board policies and large layouts are real selling points: the buyer who needs 2,400 square feet, a pied-à-terre-friendly board, or an overseas-buyer-friendly process has few alternatives in this neighborhood at any price.
Expect a cash-weighted buyer pool. Marketing, pricing, and negotiation strategy should assume limited financing in the buyer pool — which narrows the audience but shortens closings.
Comparable buildings
If you're considering 175 East 62nd Street, also evaluate:
- 167 East 61st Street — the neighboring land-lease co-op one block south; the most direct structural peer
- 303 East 57th Street — the land-lease co-op whose escalation history is the asset class's cautionary tale; study the contrast in lease terms
- Carnegie House (100 West 57th Street) — the Midtown land-lease co-op peer, with its own press-covered ground-rent reset history
- 160 East 65th Street — conventional post-war Lenox Hill co-op; the fee-simple alternative for price calibration
- Manhattan House (200 East 66th Street) — the landmark white-brick condo alternative two blocks north
- 425 East 58th Street — large post-war co-op alternative with garage and river proximity
- 130 East 75th Street — pre-war co-op alternative for buyers weighing character against square footage
The neighborhood
For the full corridor — architecture, schools, 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.
Considering a move at The Victorian?
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 The Victorian 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.