- Year built
- 2019
- Type
- Condominium
- Units
- 27
- Floors
- 7
- Landmark
- No
- Pets
- Pets permitted under the condominium declaration
- Subletting
- Permitted under the condominium declaration
- Pied-à-terre
- Allowed
249 East 50th Street is a new-construction boutique condominium completed in 2019 on a site with a particular New York pedigree: it stands where Lutèce, one of the most celebrated French restaurants in the city's history, operated for decades before closing in 2004. The building that replaced it is a contemporary, limestone-clad condominium of 27 residences designed by Isaac & Stern Architects — a deliberately small, design-forward project in a corner of Turtle Bay long defined by townhouses and low-rise apartment houses.
The architectural idea is a building wrapped around its own interior garden. The L-shaped massing — a lower portion to the west and a taller portion to the east — forms a landscaped central court that brings light and a sense of calm into a dense Midtown block. That courtyard is the building's signature, and it shapes the apartments: many residences look onto the garden rather than directly across the street, an unusual amenity at this scale and location.
The proposition is a recent-construction, full-service boutique condominium in central Midtown East — new building systems, contemporary finishes, and a small, private community — within a short walk of the United Nations, the Lexington Avenue subway, and the Midtown business district. For buyers who want new construction without the scale and anonymity of a large tower, 249 East 50th Street is a focused answer.
Architecture and unit composition
The building is clad in limestone panels and detailed to a high contemporary standard. Apartments feature floor-to-ceiling, dual-opening insulated windows, European kitchens with high-end appliances, in-unit washer-dryers, and generous ceiling heights. The L-shaped plan and interior courtyard produce a mix of garden-facing and street-facing exposures across the 27 residences.
As a condominium, apartments are valued on a price-per-square-foot basis. Floor, exposure (garden versus street), and the quality of the original new-construction finish package are the dominant variables. The upper floors of the taller eastern portion capture the building's best light and open views.
Building operations
249 East 50th Street operates as a full-service boutique condominium: an attended, double-height lobby, a fitness center, the landscaped central courtyard, a roof deck with panoramic views, bike storage, a package room, and laundry. For a 27-unit building, that is a deep amenity package — a function of the project's design-forward, premium positioning.
Governance is by a condominium board. Condominium ownership carries the flexibility characteristic of the form: pied-à-terre use, investment ownership, and subletting are permitted under the declaration, pets are permitted, and resales are not subject to cooperative-style board approval. Any right-of-first-refusal mechanics and renovation rules should be reviewed against the current bylaws and house rules. As recent construction, the building should also be reviewed for the standard new-development diligence items: sponsor warranty status, reserve funding, and any open building-systems matters.
Recent sales
249 East 50th Street is a small, recently delivered condominium whose sponsor sell-out is complete; original closings landed in the higher reaches of the Turtle Bay condominium price band, consistent with the building's new-construction, design-forward positioning. As a condo, apartments are read on a price-per-square-foot basis. Because the building is small and recently sold out, secondary-market turnover is naturally limited — there will not always be a recent in-building comparable — so resale pricing draws on the broader Turtle Bay / Midtown East new-condominium set.
The pricing argument is recency and design: a 2019, full-service, garden-wrapped boutique condominium at a price point set by new construction. Garden-facing exposures and high-floor units in the taller portion command the building's premium. Verify the most recent closings against NYC Department of Finance recorded transfers and exclude any non-arms-length transfers from your analysis.
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 |
|---|---|---|---|---|
| Jan 24, 2006 | — | 3,802 sf | $3,550,000 | $934/sf |
Market read. Most recent trades (2006) cleared a median $934/sf across 1 sale.
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-01324-7502) 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
Condo flexibility is real. No board approval to purchase; pied-à-terre, investment use, and subletting are permitted under the declaration. Confirm the specifics at offer stage.
The courtyard shapes value. Garden-facing apartments are a distinct product within the building. Decide whether you value the quiet, light, and privacy of the court over a street or skyline exposure.
It is new construction — diligence accordingly. Review sponsor warranty status, reserve funding, and any open building-systems items, as you would at any recently delivered building.
Comparable selection reaches beyond the building. With thin in-building resale turnover, pricing depends on the right new-condominium comps across Turtle Bay and Midtown East.
Run the mansion-tax math. At this building's price points, the $1M (and likely higher) cliff thresholds apply — model them.
What to know if you’re selling
Lead with design and the garden. The Isaac & Stern architecture, limestone cladding, and landscaped courtyard are the marketing story; document the garden exposure where you have it.
Price against new construction. Defensible pricing blends any in-building history with the broader Turtle Bay / Midtown East new-condominium comparables.
Closing is condo-fast. Resales are not subject to board approval; expect a 30–45 day path from contract to closing.
Comparable buildings
If you're considering 249 East 50th Street, also evaluate:
- 226 East 52nd Street (The Enclave) — boutique Midtown East condominium nearby
- 430 East 58th Street — Midtown East condominium
- 303 East 57th Street (The Excelsior) — large full-service Midtown East building nearby
- 425 East 58th Street (The Sovereign) — full-service Midtown East tower
The Roebling Team at 249 East 50th Street
The Roebling Team at Compass works across Turtle Bay, Midtown East, and the broader Manhattan new-condominium market. We publish this profile because buyers and sellers in design-forward boutique condominiums deserve building-specific intelligence — architecture, operations, and the realities of pricing where in-building comparables are scarce — not generic market commentary.
If you're considering a purchase or sale at 249 East 50th Street, a 30-minute consultation is the right starting point. We'll bring the full context this page provides plus the transactional specifics your situation requires — comparable analysis at the apartment level, due diligence priorities, and the pacing that fits your timeline.
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Gramercy — read The Roebling Team Guide to Gramercy.
Get the full picture on this building.
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