242 East 71st Street
242 East 71st Street, New York, NY 10021
BBL 1014250128 · BIN 1091929
- Type
- Condominium
- Landmark
- No
- Amenities
- Ground-floor retail and enclosed parking in the plans; resident amenities not yet published
242 East 71st Street is a 22-story, 172,000-square-foot condominium of 50 homes designed by Robert A.M. Stern Architects for Avdoo, at the southwest corner of Second Avenue and East 71st Street. Avdoo assembled the roughly 10,000-square-foot site, which included four buildings at 1341–1347 Second Avenue, and closed on it in February 2025 for $52 million, per published construction reporting.
The building's gross area works out to about 3,440 square feet per home, which is an allocation of total area, including lobby, parking, retail and cores, rather than a measured apartment size. Even so, it points to a building of large apartments. Published reporting has described limestone facades, setback terraces and a garage, an approach Robert A.M. Stern Architects has taken on other Upper East Side condominiums. The building is next to the northern entrance of the 72nd Street Q station.
Completion is targeted for 2028, and nothing has been priced. For now, this page is a guide to what has been filed and what to ask when sales open.
Architecture and residences
The sketch posted on the construction board and shown on Avdoo's website, as described in published construction reporting, shows a multifaceted tower with numerous upper-level setbacks and loggias that create private terraces. The facade is expected to be limestone around a varied window pattern of arched openings, rectangular windows with Juliet balconies and two columns of bay windows on the Second Avenue side. A crown of large window-like openings screens the mechanical bulkhead.
At street level, the residential entrance faces East 71st Street, with retail to the east toward Second Avenue and the parking garage entrance to the west. The Department of Buildings new-building filing, first filed in 2026, shows 50 dwelling units and a height of 335 feet. That is about 15 feet per story over 22 stories, plus the crown; confirm ceiling heights in the plan.
Unit mix, sizes and amenities have not been published.
An earlier scheme. A 2020-era filing by a prior owner described a 21-story tower of 134 residences on this corner. Avdoo's project replaced it with less than half the unit count. One 2025 report credited JFA Architects & Engineers; current reporting and the construction board credit Robert A.M. Stern Architects.
Construction timeline
- February 2025 — Avdoo closes on the assemblage for $52 million, with financing from Valley Bank, per published reporting
- October 2025 — demolition of the existing buildings complete
- April 2026 — excavation and piling under way; site board lists summer 2028 completion
- June 2026 — excavation progressing, per published construction reporting
- August–October 2026 — further new-building and alteration filings with the Department of Buildings, all at 50 dwelling units
Offering and pricing
No offering plan record and no asking prices had been published as of October 2026. Listing records target a first-quarter 2027 sales start, which would put the launch more than a year before completion. Expect pricing to be set against recent Upper East Side new construction of large apartments, including Robert A.M. Stern Architects' own condominiums on East End Avenue and East 83rd Street, rather than against the prewar co-ops on the same block.
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There are no sponsor sales yet. Register below and we’ll reach out the moment pricing and the offering plan are released — before the building is on the open market.
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Buying here? Condo closing costs with a mortgage typically run 3 to 6% of the price. See NYC co-op and condo closing costs, line by line.
What to know if you’re buying
Before the plan is accepted. The Attorney General must accept an offering plan before a sponsor can sign purchase contracts and take deposits. Before acceptance a sponsor may collect expressions of interest under an approved CPS-1 application, but may not take reservations or deposits, and an interest list does not secure a unit. Prices and unit counts in the filed plan can move through amendments.
Buying early. A first-quarter 2027 launch and 2028 completion means a long contract period. Your deposit sits in escrow for that time, and the plan sets what happens if the sponsor's completion date slips. Read the outside closing date and the rescission rights before signing.
Deposit and contract. New-development contracts typically require a deposit of 10% at signing, held in escrow, with some sponsors asking for 20%. The plan and contract package state this building's terms.
Closing costs. In sponsor sales the buyer customarily pays the New York State transfer tax (0.4%, or 0.65% at $3 million or more) and the New York City real property transfer tax (1% at $500,000 or less and 1.425% above for a residential unit), plus the state "mansion tax" of 1% at $1 million, rising in tiers to 3.9% at $25 million in New York City. Use the calculators below to run your price.
Parking. The building includes enclosed parking. Ask whether spaces are sold as separate condominium units or licensed, and what they cost.
Closing on a temporary certificate of occupancy. A sponsor can close on units while the building holds a temporary certificate of occupancy, renewed periodically until a final one issues. Ask what the sponsor holds back until then.
Carrying costs and abatement. No tax abatement has been disclosed. Confirm the plan's first-year common charge and tax projections.
Comparable buildings
If you're considering 242 East 71st Street, also look at these Upper East Side condominiums:
- 20 East End Avenue — 43-residence limestone condominium by Robert A.M. Stern Architects, first occupied 2016
- 200 East 83rd Street — 85-residence Robert A.M. Stern Architects condominium completed in 2021
- 181 East 65th Street — The Chatham, a Robert A.M. Stern Architects condominium from 2000
- 200 East 75th Street — 35-residence new-construction condominium completed in 2025
- 109 East 79th Street — 31-residence new-construction condominium completed 2020–21
- 200 East 69th Street — Trump Palace, a 1991 condominium tower at Third Avenue and 69th Street
More Upper East Side buildings
- 240 East 79th Street — 1929 co-op
- The Eastmore (240 East 76th Street) — 1957 condop
- 241 East 76th Street — 1959 co-op
- 243 East 77th Street — 1910 co-op
- 245 East 72nd Street — 1930 co-op by Emery Roth
- Astor Terrace (245 East 93rd Street) — 1985 condominium by Skidmore, Owings & Merrill
The neighborhood
For the full corridor — architecture, transit, and pricing across Upper East Side — read The Roebling Team Guide to Upper East Side.
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.
Considering a move at 242 East 71st Street?
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646.939.7375 · c.cohen@compass.com