240 Park Avenue South

The building rises 17 stories, organized around its rounded corner — curved glass bays stacked above a limestone base — with the long elevation running west along East 19th Street. Residences run one- to three-bedrooms from about 805 to 2,700 square feet, roughly three to four per floor, many with the curved bay window walls as the living-room centerpiece; select upper units carry terraces, including a wraparound at the A-line setback levels. The two full-floor penthouses are the trophy inventory: the 17th-floor penthouse spans the entire floor with private roof access, and a free-form rooftop infinity pool was built at the penthouse level — a genuine rarity in a building of this scale. Kitchens and baths were delivered to a single sponsor specification (granite, Sub-Zero and Miele equipment, carved-stone vanities); nearly twenty years in, renovation condition now varies by unit and should be priced line by line.

Full-service: 24-hour doorman and concierge, live-in resident manager, the fitness center, residents' library/entertainment suite, landscaped terrace, children's playroom, and sauna. There is no on-site garage and no balconies on most lines. The ground-floor commercial unit is separately owned under the condominium structure — standard for the avenue, but your attorney should review the commercial unit's rights and cost allocations in the by-laws. The offering plan, declaration, and by-laws are on file in The Roebling Research Library and available to clients during diligence.

Recent sales

Recent closings at this building, from The Roebling Research Library. 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 (2026 to date) cleared a median $1,805/sf (floor-adjusted) across 1 sale. Floor-adjusted means each sale is restated to a constant mix of floors, so the figure can differ from the plain median of the sales listed above. Median listing discount 4.6% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.

Sales sourced from NYC Department of Finance recorded transfers (BBL 1-00848-7505; each condominium apartment is its own tax lot). Apartment-level facts (line, condition, asking-price context) curated and cross-verified in The Roebling Research Library. 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 new-construction stock, not a conversion. No inherited loft quirks and no conversion-era tenancies — a 2007 condominium structure. Still confirm there is no ground lease, and whether any unit carries a regulatory agreement or tax-benefit rent restriction, from the offering plan and the recorded declaration. The diligence focus shifts to the usual condo questions: financials, reserve posture, the commercial unit's allocations, and any facade or mechanical cycles approaching at the 20-year mark.

The 421-a era is over — underwrite real taxes. Early resale listings in buildings of this vintage often anchored buyer expectations to abated carrying costs. The exemption schedule has expired; run the True Monthly Carrying Cost Calculator on current assessed taxes, not historical listing data.

Line selection is the whole game. The curved-corner bays at the A-lines, the terraced setback units, and the penthouses are distinct products from the mid-floor interior lines. Same-line closed history — not building-average pricing — is the correct anchor, and we maintain it by line.

Amenity expectations should be calibrated to boutique scale. The program is complete for ~50 units — fitness center, library suite, terrace, playroom, sauna — but there is no pool (outside the penthouse's private one), no garage, and no spa floor. Buyers cross-shopping new Flatiron towers should compare the smaller scale and Gwathmey design with amenity breadth and actual circulation and sound conditions.

Verify the policy stack against the by-laws. Leasing terms, pet policy, entity and trust purchases, and any transfer fees are governed by the condominium documents — on file with us — and current board resolutions. Confirm at offer stage.

Lead with the architecture. A named Charles Gwathmey building is a marketing asset most Park Avenue South conversions cannot match. The curved-glass corner, the masonry thesis, the art-wall window spacing — state it specifically; the design-literate Flatiron buyer responds to precision.

Position between the lofts and the towers. Your buyer is cross-shopping prewar loft conversions (character, but compromise floor plates) and newer glass condos with different amenities and residence counts. 240's pitch is the middle path: purpose-built systems and service at boutique scale.

Mansion tax thresholds shape offers at nearly every price point here. Run the Mansion Tax Calculator at the intended ask and price with the cliffs in mind.

If you're considering 240 Park Avenue South, also evaluate:

• 260 Park Avenue South — the neighboring multi-building condo conversion; the prewar-envelope alternative one block north
• 50 Gramercy Park North — Gramercy residential alternative with park access to verify; confirm its ownership structure and service terms
• 45 East 22nd Street — the Flatiron residential tower; the new-tower alternative at a higher price point
• 21 East 26th Street — boutique Madison Square Park condominium
• 15 Union Square West — glass-over-cast-iron boutique condo on the square
• 121 East 22nd Street — newer Gramercy condominium; the closest new-construction peer east of the avenue
• One Madison (23 East 22nd Street) — slender Flatiron tower; the view-driven alternative
• 141 Fifth Avenue — domed Flatiron conversion; the landmark-envelope comp