248 East 65th Street
248 East 65th Street, New York, NY 10065
BBL 1014197501 · BIN 1043870
- Year built
- 1961
- Type
- Condominium
- Units
- 88
- Floors
- 14
- Landmark
- No
- Pets
- Pet-friendly, subject to approval
Every recorded sale at this building, 2003–2025
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $1,487
- Listing discount
- 3.9%
- Recorded sales
- 93
- On record
- 2003–2025
The Grace is a full-service postwar condominium at Second Avenue and East 65th Street, in the heart of Lenox Hill. The building carries two addresses: its commercial and institutional space occupies the base with a Second Avenue presence, while the residential condominium — floors roughly three through fourteen — is entered privately on East 65th Street. Built in 1961 and modernized in recent years across its facade, lobby, hallways, elevators, and mechanical systems, it offers the flexibility of condominium ownership in a corridor where condo inventory is comparatively scarce: straightforward financing, permissive subletting, and pied-à-terre use in a pocket of the Upper East Side where those terms are otherwise hard to find.
The appeal is practical and investor-friendly. The residences are known for good scale, oversized windows, and ceiling heights that run higher than many comparable mid-century developments, in efficient one-, two-, and three-bedroom configurations. Paired with a genuinely full amenity package — including a landscaped roof deck with grills — and a permissive rule set, the Grace is one of the more usable condominium options in central Lenox Hill for owner-occupants, pied-à-terre buyers, and investors alike.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $136,931/yr
- Per unit / month range
- $0 – $130
Facade safety — Local Law 11
The latest available FISP filing classified the facade as Safe — no repairs were required at that inspection. Facade inspections run on a fixed five-year cycle; future inspection, repair, and any assessment decisions remain building-specific.
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
As a condominium, 248 East 65th Street trades on a price-per-square-foot basis rather than the price-per-room framing used for co-ops. Pricing here reflects several durable factors: the central Lenox Hill location at Second Avenue and East 65th Street, close to the Second Avenue and Lexington Avenue subway lines and the neighborhood's retail and dining; the condominium tenure, which typically commands a premium over comparable co-op stock; the well-scaled postwar layouts with above-average ceiling heights; and the full amenity package, including the roof deck, which supports value against thinner-serviced peers.
Buyers should expect per-square-foot values in line with, or modestly above, the full-service condominium and co-op inventory nearby, with the condo structure and permissive subletting supporting resale liquidity and investor demand. Specific closed prices move with unit line, floor, light, exposure, and condition, and should be underwritten against current recorded transfers rather than headline averages.
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 26, 2025 | 8B | 2 BR · 2 BA · 1,350 sf | $1,925,000 | $1,426/sf | -2.5% |
| Jan 30, 2024 | 12A | 2 BR · 2.5 BA · 1,400 sf | $1,940,000 | $1,386/sf | -13.8% |
| Oct 17, 2023 | 11A | 2 BR · 2 BA · 1,400 sf | $1,612,500 | $1,152/sf | -2.3% |
| Sep 27, 2023 | 5E | 3 BR · 3 BA · 1,800 sf | $2,528,750 | $1,405/sf | -4.6% |
| Apr 11, 2023 | 8A | 2 BR · 2 BA · 1,400 sf | $1,550,000 | $1,107/sf | off-mkt |
| Mar 10, 2023 | 9A | 2 BR · 2 BA · 1,400 sf | $1,825,000 | $1,304/sf | off-mkt |
| Mar 8, 2023 | 12G | 2 BR · 1 BA · 1,100 sf | $1,275,000 | $1,159/sf | off-mkt |
| Dec 15, 2022 | 6H | 1 BR · 1 BA · 961 sf | $905,000 | $942/sf | -17.7% |
Market read. Most recent trades (2025) cleared a median $1,487/sf across 1 sale. Median listing discount 3.9% 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 |
|---|---|---|
| Jun 24, 2019 | 6B | $1,200,000 |
| Aug 11, 2003 | 8G | $539,000 |
| Jul 21, 2003 | 9D | $517,500 |
| Feb 20, 2003 | 12E | $1,200,000 |
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 1-01419-7501) 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
- Condominium tenure is the headline advantage. Financing flexibility, pied-à-terre use, and permissive subletting are scarce in central Lenox Hill and directly support the building's resale and rental utility.
- The layouts are a strength. Good scale, oversized windows, and above-average ceiling heights distinguish these residences from typical mid-century floor plates.
- Amenities are genuinely full. Doorman, fitness center, storage, bike room, and a landscaped roof deck with grills — but no on-site garage on record.
- The mixed-use base is worth understanding. Commercial and institutional space at the lower floors is entered separately on Second Avenue; the residential condominium has its own private East 65th Street entrance.
- Confirm the unit count, amenity terms, and any active assessments against the offering plan and current schedule at diligence.
What to know if you’re selling
- Lead with the condominium structure and the rule set. In a co-op–dominated micro-market, financing flexibility, permissive subletting, and pied-à-terre use are genuine differentiators worth foregrounding to investor and end-user buyers alike.
- Position the layouts and amenities clearly — scale, ceiling height, oversized windows, and the roof deck — while noting the absence of an on-site garage.
- Bring current financials and the modernization record to the table. Recent capital work on the facade, lobby, elevators, and systems is a selling point when documented.
- Pricing should be anchored to recent in-building and immediate-block comparables, with adjustments for floor, light, and condition, rather than to broader Lenox Hill averages.
Comparable buildings
- 304 East 65th Street (The Rio) — same-street Lenox Hill condominium with full amenity package
- 1440 Second Avenue — nearby full-service Lenox Hill cooperative
- 310 East 70th Street — nearby full-service Lenox Hill cooperative
- 404 East 66th Street (Hardenbrook House) — nearby Lenox Hill condominium
- 1 East 66th Street — nearby Upper East Side peer
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Upper East Side — read The Roebling Team Guide to Upper East Side.
Considering a move at The Grace Condominium?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at The Grace Condominium 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.