The Park East (233 East 86th Street)
233 East 86th Street, New York, NY 10028
Yorkville, Upper East Side
BBL 1015320015 · BIN 1048793
- Year built
- 1983
- Type
- Cooperative
- Units
- 56
- Floors
- 22
- Landmark
- No
- Amenities
- Full-time door staff, resident superintendent, rear garden, laundry room, bicycle and storage rooms per the offering plan and listing records; a roof deck per listing records. Most apartments have a private balcony
- Financing
- Up to 80 percent per listing records
- Flip tax
- 2 percent per listing records; confirm the payer and the base with the managing agent
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at The Park East 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.
A 1983 Manhattan cooperative is an oddity. By the early 1980s nearly every new Manhattan apartment building was a rental or a condominium, and co-ops were overwhelmingly conversions of existing rental stock. The Park East was built from the ground up and sold as cooperative shares from the start. The sponsoring corporation assembled the site between 1981 and 1982, the offering plan went effective in September 1983 with subscriptions for 19 of its 56 apartments, and the property passed to Park East Apartments, Inc. that October.
The second oddity is the resale structure. The offering plan states that the board of directors is not empowered to approve resales or sublets. Instead the corporation holds a right of first refusal — it may match a sale or a sublet, but it cannot reject a buyer on the usual co-op grounds. That is the reason listing records describe the building as functioning like a condop. ACRIS shows the corporation itself taking title to apartments and reselling them on several occasions between 2010 and 2013, which fits a first-refusal building. Proprietary leases can be amended, and forty years is a long time, so a buyer should read the current lease rather than rely on the 1983 text. But if the first-refusal clause still stands, it is the most important thing about the building.
The third point is design. The AIA Guide to New York City called it a "high style, purply brick design statement." The balconies are angled at the west end and stacked into a continuous vertical ladder, and the base is opened by a three-story entrance cut. It went up while this stretch of 86th Street was changing from low-rise to high-rise, and it still looks more carefully designed than most of what came after.
Architecture and unit composition
The building fills a 50-by-100-foot midblock lot. Liebman Liebman Associates, the firm behind a run of Upper East Side condominiums later in the decade, including 401 East 84th Street and 45 East 80th Street, prepared the architect's report and floor plans in the plan. The plan describes a 22-story structure with commercial space on the first floor and residential floors above.
Apartments begin on the third floor and run in four lines. According to the offering plan's room schedule, layouts get larger as the building rises. The A line is alcove studios through the 16th floor and two-bedroom, two-bath apartments from the 17th to the 21st. The B line is one-bedrooms through the 16th floor and two-bedroom, two-bath apartments from the 17th floor to penthouse B. The C line is one-bedrooms on the lower floors and two-bedrooms from the 8th floor up. The D line is a short stack of alcove studios on floors three through seven. Penthouse A is a duplex with two balconies and a terrace. Nearly every apartment in the schedule has a balcony. The share allocation was set by apartment size, balcony size, room count and floor. Apartments here are compact modern layouts. Their selling points are private outdoor space and the upper-floor exposures. There are no prewar proportions.
Building operations
The plan budgeted a resident superintendent, four doormen and a full- and part-time porter. The current staff is described in listing records as a 24-hour door, a porter and a live-in superintendent. The lobby opens to a rear garden. DOB filings record the replacement of the building's two boilers and burners in 2021, façade repairs in 2014, and apartment-level balcony enclosures.
Façade. The Cycle 9 façade inspection was first filed unsafe in March 2024 and amended to safe in April 2025 after repairs. That is the current status on DOB's façade-inspection record. The Cycle 7 filing followed the same pattern, unsafe in 2013 and safe in 2014.
Underlying mortgage. ACRIS records a refinancing with a cooperative lender in November 2021: a consolidated $5.15 million first mortgage and a $500,000 second instrument, the structure typically used for a line of credit. That is up from $3.5 million and $500,000 in 2012. Against 56 apartments, the first mortgage is roughly $92,000 of underlying debt per apartment. That is moderate. Maturity, rate and the drawn balance on the line are not recorded, so ask the managing agent for them along with the latest audited statements.
The store lease. Under the 1983 plan, the corporation leased the ground-floor and basement store at closing to the sponsor or its designee. The lease ran about ninety-five years including renewals, and the plan stated that the sponsor expected to profit from subleasing the space. The rent was fixed for about five years and then escalated by a share of cost increases. ACRIS records that lease in November 1983. The current tenant, rent and remaining term are not public. Commercial income matters to maintenance, and a long lease at a formula rent can leave the corporation with far less than market, so ask for the store lease early.
Tax benefits. The plan projected a Section 421 exemption: taxes fully exempt for two years, the exemption stepping down 20 percent every two years, and full taxes after year ten. That benefit ended in the 1990s. The Department of Finance shows no J-51 record on this lot. The only current relief is the standard co-op abatement and individual shareholder exemptions such as senior and disability benefits. Underwrite a full tax line.
Policy framework
Resale and sublet. Per the offering plan, the board does not approve resales or sublets. The corporation holds a right of first refusal under paragraph 16 of the proprietary lease. Confirm with the managing agent whether this still governs, what the package and timeline are for the corporation to waive the right, and whether an interview is still customary.
Financing. Up to 80 percent per listing records. The plan subjected a financed buyer's resale and sublet rights to the lender's recognition agreement.
Flip tax. 2 percent per listing records. The payer and whether it is assessed on gross price are not documented in our file.
Entities. The plan expressly reserved sales to corporations, partnerships, trusts and estates, and ACRIS shows LLC and corporate buyers. Confirm the current policy in writing.
Pets and pied-à-terre. Permitted per listing records.
Recent sales
ACRIS records a steady flow of share transfers, several in most years and four arm's-length sales in the last twenty-four months, across studios, one-bedrooms, two-bedrooms and the penthouse line. Pricing here is set by line and floor more than by anything building-wide. The alcove studios trade in a different market from the two-bedroom B line, and upper-floor and penthouse apartments with open exposures sit well above the lower floors. Balconies add value in every line. Co-op pricing on this block is best compared per room. Treat the first-refusal structure as a real advantage over conventional co-ops when comparing. Index market statements to 2025, the last complete year. Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Recent transfers at this building, sourced from NYC Department of Finance records. Apartment-level detail (line, condition, asking-price context) verified upon consultation request.
| Date | Unit | Price |
|---|---|---|
| Jul 27, 2026 | 11C | $1,300,000 |
| Oct 17, 2025 | PHB | $1,050,000 |
| Oct 10, 2024 | 14C | $1,225,000 |
| Sep 5, 2024 | 9C | $990,000 |
| Jan 31, 2023 | 9A | $520,000 |
| Jun 21, 2022 | 4B | $595,000 |
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-01532-0015) 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.
At the recent median sale of $1.23M (3 transfers since 2024), a buyer putting 25% down would pay about $25,394 to close, or 2.1% of the price.
- Mansion tax: $12,250
- No mortgage recording tax or title insurance on a co-op purchase
- Attorneys, lender, building fees and filings: $13,144
Assumes a resale (the seller pays transfer taxes), a $4,500 attorney fee and a mortgage on the rest.
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What to know if you’re buying
Read paragraph 16 of the current proprietary lease before anything else. If first refusal still replaces board approval, your approval risk is materially lower than in a typical Upper East Side co-op, and the lender and attorney need to know that at the start.
Ask for the store lease. It is a sponsor-era commercial lease with a very long term. It decides how much retail income the corporation actually receives.
Get the mortgage terms. The 2021 refinancing is recorded but its maturity is not.
Price the balcony and the line, not the building. Line, floor and outdoor space drive value here.
What to know if you’re selling
Lead with the structure. A co-op without board approval of buyers widens the buyer pool, including buyers who would otherwise only look at condominiums. Have the lease language ready to show.
Show the façade status. The 2024 unsafe filing was cured in 2025, so put the safe filing in the package.
Market the outdoor space. Private balconies are rare at this price in Yorkville.
Comparable buildings
If you're considering The Park East, also evaluate:
- 1659 Second Avenue — the Newbury, a full-service postwar co-op on the same block
- 179 East 70th Street — another Upper East Side building constructed as a cooperative rather than converted
- 401 East 84th Street — Liebman Liebman Associates, mid-1980s Yorkville condominium
- 45 East 80th Street — Liebman Liebman Associates, late-1980s condominium
- 235 East 87th Street — postwar Yorkville co-op a block north
- 230 East 88th Street — postwar Yorkville co-op nearby
- 238 East 84th Street — small Yorkville co-op of mostly compact apartments
More Upper East Side buildings
- 230 East 73rd Street (Eastgate) — 1936 co-op by Emery Roth
- 233 East 69th Street — 1951 condop
- 233 East 70th Street — 1957 co-op by H.I. Feldman
- 235 East 73rd Street (Eastgate) — 1936 co-op by Emery Roth
- 235 East 87th Street (The Plymouth House) — 1962 co-op
- 237 East 88th Street — 1920 condominium
The neighborhood
For the full corridor — architecture, 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.
How to read the facts on this page. Items attributed to an offering plan describe the building as it was offered at that filing — unit mix, square footage, the amenity program as planned. They are not a statement about how the building operates today. Tax and compliance figures are sourced separately to current City records and carry their own dates. House rules, staffing and fee policy can change by board resolution without any public filing: treat every policy line here as a starting point for diligence and confirm it with the managing agent. Where this page compares one building or neighborhood to another, that is our analysis of the recorded record — it names the measure, the period and the sample it rests on, and it is an observation about medians rather than a prediction about any particular apartment.
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