- Year built
- 1925
- Type
- Condominium
Greentree Condominium, at 248 East 31st Street, is a boutique condominium on one of Kips Bay's finest townhouse blocks — a quiet, low-rise stretch between Second and Third Avenues that retains the residential character buyers come to this part of Murray Hill / Kips Bay to find. The building dates to the early twentieth century and was converted to condominium use, producing a small, owner-focused building of just 30 residences across nine stories.
The appeal is the combination of scale, structure, and lifestyle. Greentree pairs the intimacy of a 30-unit building with full-service basics — a 24-hour lobby attendant and a live-in superintendent — and a standout shared amenity: a planted roof deck with river views, a genuine luxury on a block of this scale. As a condominium, it offers fee-simple ownership, flexible financing, and the resale and rental latitude that buyers increasingly prioritize, and it is pet-friendly.
For a buyer who wants a quiet residential block with the convenience of a doorman building and the flexibility of condominium ownership, Greentree delivers — with the practical anchors of the neighborhood (the AMC Kips Bay cinema, Equinox, Trader Joe's, and Fairway each about a block away, plus the 6 train and crosstown bus) all immediately at hand.
Architecture and unit composition
The building belongs to the early-twentieth-century low-rise tradition, set on a townhouse-scaled block and converted to residential condominium use — a transformation that produced the building's 30 homes across nine floors. The result is a quiet, human-scaled building whose residential conversion gave it the layouts and systems of contemporary apartment living within a period structure.
The 30 residences run at boutique scale, with the conversion delivering modern kitchens and baths within the building's original bones. The planted roof deck — landscaped, with river views — is the building's signature shared space, offering open-air lounging that punches well above the building's size. Bike storage and a storage-unit program (with a wait list) handle the practical demands of city living, and a live-in superintendent keeps the building well-tended.
Building operations
Greentree operates as an attended condominium with a 24-hour lobby attendant and a live-in superintendent, a staffing model well matched to a 30-unit building and the source of its well-kept, low-key feel. The building is pet-friendly. As a condominium, it offers fee-simple ownership without a co-op board process: purchases clear through a right-of-first-refusal rather than a board interview, financing is not subject to co-op-style caps, and pied-à-terre use, subletting, and ownership through trusts or entities are customary. The roof deck, bike storage, and shared systems are maintained through the common charges, with the small unit count keeping the operating profile efficient.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $0 (under cap)
- Per unit / month range
- —
Facade safety — Local Law 11
Safe to live in today — but the last inspection flagged repairs that are due on a deadline, so facade work and its cost are coming. Whether that’s a real concern depends on the scope, the timing, and how the building plans to pay for it — reserves or an assessment — which is exactly what we’d dig into 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 →Recent sales
Recent closings 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 |
|---|---|---|---|---|---|
| Jun 20, 2025 | 4A | 2 BR · 2 BA · 1,483 sf | $1,470,000 | $991/sf | -1.9% |
Market read. Most recent trades (2025) cleared a median $991/sf across 1 sale. Median listing discount 1.9% 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 |
|---|---|---|
| Sep 3, 2025 | 2C | $999,000 |
| Nov 4, 2020 | 1C | $1,100,000 |
| Nov 13, 2018 | 4C | $1,200,000 |
| Jun 14, 2018 | 2B | $1,450,000 |
| Jul 13, 2017 | 8B | $1,825,000 |
| Mar 29, 2017 | 4A | $1,550,000 |
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 1-00911-7501) 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 from recorded condo declarations and offering plans.
What to know if you’re buying
The buying case is block, structure, and amenity. You are buying into a boutique condominium on one of Kips Bay's quietest townhouse blocks, with a 24-hour attendant, a live-in super, a planted roof deck with river views, and pet-friendly rules — all in fee-simple condominium form, with the financing and resale flexibility that ownership structure provides. The neighborhood conveniences are unusually dense, with shopping, a gym, a cinema, and transit all within a block.
Diligence runs along condominium lines: review the reserve fund and capital-project history, the condition of the building's systems and roof given its age and conversion, and the specifics of any unit's light, layout, and storage assignment. In a building this size, floor and light drive value more than raw square footage, and access to the storage program is worth confirming.
What to know if you’re selling
Sellers lead with the building's distinctive combination: a boutique, pet-friendly condominium on a serene townhouse block, with a doorman and a river-view roof deck, and the flexibility of condominium ownership. In a corridor where much of the comparable inventory is larger or co-op, that package — quiet block, real amenity, fee-simple structure — is a strong story.
Benchmark pricing to the Murray Hill / Kips Bay condominium set, adjusting for floor, light, layout, and renovation. Presentation should foreground the roof deck and the block's character, and emphasize the convenience of the surrounding amenities — points that help a well-prepared listing stand out given how little comparable inventory the 30-unit building produces.
Comparable buildings
If you're considering Greentree, these nearby Murray Hill / Kips Bay buildings make a useful comparison set:
- 222 East 35th Street — boutique Murray Hill building nearby
- 225 East 34th Street — a 2007 full-service condominium
- 200 East 32nd Street — Kips Bay building close by
- 165 East 32nd Street — Murray Hill / Kips Bay building nearby
- 305 East 24th Street — nearby building for comparison
- 230 East 20th Street — Gramercy-corridor building for scale comparison
The Roebling Team at Greentree Condominium
The Roebling Team at Compass specializes in Murray Hill, Kips Bay, Gramercy, and the broader Manhattan condominium market. We publish this profile because buyers and sellers evaluating a boutique Kips Bay condominium deserve building-specific intelligence — the architecture, the ownership structure, the amenity program, and where pricing sits against the surrounding inventory.
If you're considering a transaction at 248 East 31st Street, a 30-minute consultation is the right starting point — we'll walk the floor plans, the comparable set, and the building's operating profile with you.
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.
Own an apartment here? See what it would sell for.
A broker’s honest answer to three questions — what your apartment would likely sell for today, what it costs to sell, and what you’d walk away with — for your apartment at Greentree Condominium, in this market. Put together by a person, not an algorithm.