- Year built
- 1960
- Type
- Cooperative
- Units
- 103
- Floors
- 13
- Landmark
- No
- Pets
- Permitted with board approval per listing records
- Subletting
- Permitted after two years of ownership per listing records — verify current terms with the managing agent
- Pied-à-terre
- Allowed
- Financing
- 80 percent maximum per listing records — confirm with the managing agent at offer stage
- Flip tax
- $50 per share, paid by the buyer, per listing records — confirm current terms with the managing agent
Every recorded sale at this building, 2004–2025
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $758
- Listing discount
- 4.7%
- Recorded sales
- 35
- On record
- 2004–2025
The Sterling is a full-service Midtown East co-op that delivers doorman service and a roof deck at entry-tier pricing, on a block that sits within walking distance of Sutton Place without carrying Sutton Place's numbers. A 1960 postwar high-rise on East 56th between Second and Third Avenues, it competes on carry and convenience: a 24-hour doorman, a live-in superintendent, a common roof deck, and a policy framework — per listing records — that permits pieds-à-terre, subletting after two years, and 80 percent financing. That stack widens the buyer pool well beyond the owner-occupant-only norm and positions the building as a practical option for buyers who want staff and a Midtown East address without a trophy budget.
The building is straightforward postwar work — a well-run, amenity-appropriate co-op rather than an architectural statement — and it trades accordingly, in the entry-to-mid band of the Midtown East cooperative market. What it offers is location and service: the E/M and 6 at Lexington–53rd, the 4/5/6/N/Q/R/W at Lexington–59th, and the East River residential enclaves a few blocks east, all from a block that stays quiet and residential relative to the Third Avenue commercial spine.
The financial framework is worth reading closely. The flip tax is a modest per-share figure paid by the buyer rather than the seller — an unusual structure that shifts the cost to the purchase side and should be modeled into closing costs on the buy, not the sell. As with any co-op at this tier, the policy details around subletting, guarantors, and pet approval are worth confirming with the managing agent, since brokerage records occasionally conflict on the finer points.
Architecture and unit composition
The Sterling runs thirteen stories of postwar construction, with a renovated lobby and hallways and a common roof deck as its principal shared amenity. The inventory is predominantly studios and one-bedrooms, with a set of combined apartments created over the building's life. Layouts are 1960s-practical — efficient room shapes, real closets, and defined foyers in many lines — and they renovate cleanly. Exposures are mid-block, so light and outlook track floor height more than line. The building runs on through-wall or window air conditioning rather than central systems; buyers pricing renovations should set HVAC expectations accordingly.
Building operations
This is a staffed, full-service co-op: a 24-hour doorman, a live-in superintendent, elevators, central laundry, private storage, and a common roof deck, with a renovated lobby and hallways. There is no on-site garage or fitness center. A ground-floor dental practice occupies the building's commercial space. The offering plan, proprietary lease, and by-laws are on file in The Roebling Research Library and available to clients during diligence.
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 |
|---|---|---|---|---|---|
| Oct 31, 2025 | 5ABC | 2 BR · 3 BA · 1,500 sf | $930,000 | $620/sf | -19.1% |
| Apr 8, 2025 | 6F | 1 BR · 1 BA · 700 sf | $625,000 | $893/sf | -8.0% |
| Oct 24, 2024 | 11M | 1 BR · 1 BA · 600 sf | $655,000 | $1,092/sf | -0.7% |
| Aug 29, 2024 | 7E | 1 BR · 1 BA · 700 sf | $626,000 | $894/sf | off-mkt |
| Nov 13, 2023 | 8F | 1 BR · 1 BA · 700 sf | $630,000 | $900/sf | -9.9% |
| Sep 12, 2023 | 4CD | 2 BR · 2 BA | $1,050,000 | -16.0% | |
| Nov 1, 2022 | 7G | 1 BR · 1 BA | $580,387 | +16.1% | |
| Aug 26, 2021 | 5D | 1 BR · 1 BA · 720 sf | $572,000 | $794/sf | -10.5% |
Market read. Most recent trades (2025) cleared a median $758/sf across 2 sales. Median listing discount 4.7% 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.
Other recent transfers
| Date | Unit | Price |
|---|---|---|
| Jul 21, 2025 | 6G | $610,000 |
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 1-01330-0007) 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
Model the buyer-paid flip tax. The $50-per-share flip tax is paid by the purchaser per listing records — an unusual structure. Build it into your closing costs, not your seller's net.
The policy stack is flexible for a co-op. Pied-à-terre, subletting after two years, and 80 percent financing — per listing records — widen the framework beyond the owner-occupant norm. Verify each in current form, including guarantor and pet-approval specifics, with the managing agent before offering.
Prioritize floor. In a mid-block building, light and outlook are a function of height. Price accordingly.
Weigh the service package against carry. A 24-hour doorman and roof deck at this price is the core value; compare it against leaner co-ops nearby and the condominiums that price higher.
Run the board math early. The Co-op Board Qualification Calculator is the right first step.
What to know if you’re selling
Lead with service and location at this price. A full-service doorman building steps from Sutton Place, at entry-tier pricing, is a strong story. Put it first.
The flexible policies widen your pool. Pied-à-terre and post-seasoning sublet permissions reach investors and pied-à-terre buyers that stricter co-ops miss. State the framework plainly.
Condition drives the spread. In a mid-block building where exposures vary modestly, renovated-versus-original is the pricing axis. The Renovation Cost Calculator frames it for buyers.
Comparable buildings
If you're considering The Sterling, also evaluate:
- 339 East 58th Street — prewar Sutton-adjacent co-op nearby; the prewar-character alternative
- 136 East 56th Street — Midtown East co-op on the same block
- 220 East 54th Street — Midtown East co-op with comparable inventory
- 231 East 55th Street — Midtown East co-op alternative
- 333 East 55th Street — Midtown East co-op nearby
The Roebling Team at The Sterling
The Roebling Team at Compass works Midtown East and the broader Sutton Place market as a core practice area. We publish this building profile because Sterling buyers and sellers deserve building-specific intelligence — policy framework, financial structure, and corridor-level comparables — not generic neighborhood commentary.
If you're considering a transaction at The Sterling, a 30-minute consultation is the right starting point.
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Midtown East — read The Roebling Team Guide to Midtown East.
Get the full picture on this building.
The full comp set, a private valuation of your line, or current and off-market availability — sent to you directly.