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 (floor-adjusted)
- $1,487
- Listing discount
- 3.9%
- Recorded sales
- 93
- On record
- 2003–2025
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.
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.
Architecture and building operations
Built in 1961, 248/250 East 65th Street is a 14-story postwar brick building configured as a mixed-use condominium under the name The Grace. The lower floors house commercial and institutional space with its own entrance on Second Avenue; the residential condominium occupies the upper floors and is reached through a private entrance on East 65th Street. Public sources put the residential count at roughly 88 apartments; the exact figure should be confirmed against the offering plan and current schedule at diligence. The residences are characterized by good scale, oversized windows, and above-average ceiling heights for the period.
Operations are full-service. The building maintains a 24-hour doorman, a live-in superintendent, a porter, a fitness center, a central laundry room, bike storage, and private storage, along with a landscaped roof deck with grills. The building has undergone recent modernization to its facade, entryway, lobby, hallways, elevators, and mechanical and cooling systems. There is no on-site parking garage on record.
Policy framework
- Type: Condominium — no board approval to purchase; the condominium board holds a right of first refusal
- Pets: Permitted, subject to approval
- Pied-à-terre: Permitted
- Financing maximum: Condominium financing is generally flexible; confirm any lending guidance with the managing agent at offer stage
- Subletting: Permitted — a meaningful advantage over neighboring cooperatives
- Trust, LLC, foreign buyers: Generally accommodated under condominium ownership; confirm at contract
- Right of first refusal: Standard condominium waiver process applies
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $136,931/yr
- Per unit / month range
- $0 – $130
- Modeled exposure split equally across 88 units (the city tax-lot count). Not an assessed amount; co-op shareholders are typically charged by share allocation.
Source: NYC LL84 benchmarking and PLUTO · The Roebling Research Library. City record last verified September 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →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.
How to read this, and where it comes from
QEWI = Qualified Exterior Wall Inspector — the licensed engineer the city requires to sign the report (the independent expert, not the managing agent).
Penalties shown are amounts DOB assessed against filings on record across 2005–10 to 2020–25. The FISP dataset does not record whether they were paid, contested or remain open, so treat the figure as history rather than a current balance and confirm the building’s standing with the managing agent.
Source: NYC DOB facade filings (FISP) · The Roebling Research Library. City record last verified September 2026.
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, 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.
| 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 (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 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). 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.
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.
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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
More Upper East Side buildings
- 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
- 249 East 62nd Street (The Treadwell) — 2021 condominium by SLCE Architects
- 255 East 74th Street (Casa 74) — 2008 condominium by SLCE Architects
- 255 East 77th Street — 2025 condominium
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 The Grace Condominium?
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