- Year built
- 1964
- Type
- Cooperative
- Units
- 381
- Floors
- 20
- Landmark
- No
- Amenities
- On-site garage with direct building access and a documented shareholder discount, renovated central laundry room, private storage and bike room (waitlists possible), ground-floor retail along Second Avenue
- Pets
- Permitted, including dogs, per brokerage and listing records
- Financing
- 75 percent maximum (25 percent minimum down) per brokerage records
New York Towers is the scale play of the Kips Bay–Gramercy seam: a 20-story, roughly 388-unit full-service cooperative holding the entire Second Avenue blockfront from East 24th to East 25th Street. Buildings this size change the ownership math. A large shareholder base spreads operating costs, supports a deep staff roster — 24-hour doorman, concierge, porters, live-in resident manager, an on-site management office — and produces enough annual turnover that pricing is unusually transparent for a co-op. For buyers priced out of Gramercy's pre-war stock, this is one of the neighborhood's most liquid full-service entry points.
The architecture is better than the post-war label suggests. Rather than a flat white-brick slab, the building's massing is deliberately asymmetrical — angled facades, setbacks, and a staggered field of private balconies that architectural records single out for visually breaking up its full-blockfront bulk. The practical consequence for owners: an above-average share of units with outdoor space and corner-style light for the vintage, on a low-traffic block that brokerage records consistently describe as a quiet cul-de-sac off Second Avenue.
The conversion paperwork is on file with us, and it rewards reading. The offering plan — first offered January 25, 1983, sponsor Parman Co., a non-eviction plan — allocated 338,393 shares across 381 apartments, reserved five doctors'-office units on the certificate of occupancy, and disclosed leases of the garage and commercial space from the apartment corporation to owner-related entities, a structure the plan itself flagged as a special risk. Four decades on, those ground-floor economics and the building's reserve posture are exactly what a buyer's attorney should test during diligence — and the underlying documents are in The Roebling Research Library.
Architecture and unit composition
The building rises 20 floors, the top two given to penthouse units, over a base with roughly 10,000 square feet of Second Avenue retail and a 21,900-square-foot garage per city records. The mix runs from studios through two-bedrooms, with larger combinations assembled over the years — typical post-war proportions: defined foyers, generous closets, windowed kitchens in many lines. Balconied lines and the upper floors carry the premiums; east-facing units get open light toward the East River corridor, and the penthouse levels trade as the building's signature inventory. Renovation quality varies widely unit to unit, which keeps the entry price honest and the renovation arbitrage real.
Building operations
Full-service at genuine scale: 24-hour doorman and concierge, porter staff, live-in resident manager, and — unusually — an on-site management office, which shareholders credit for responsive day-to-day operations. The garage connects directly to the building and offers a discounted shareholder rate per brokerage records. Storage and bike room run on waitlists. The board's policy framework is among the more flexible in the neighborhood: 75 percent financing, pieds-à-terre, co-purchasing, gifting, guarantors, and washer/dryer installations with approval. The offering plan and amendments are on file in The Roebling Research Library; current financials should be requested through the managing agent during diligence.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $158,471/yr
- Per unit / month range
- $0 – $34
Recent sales
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Recent transfers at this building, sourced from NYC Department of Finance records. Apartment-level detail (line, condition, asking-price context) verified upon consultation request.
| Date | Unit | Price |
|---|---|---|
| Apr 22, 2026 | 12N | $795,000 |
| Apr 20, 2026 | 3T | $590,000 |
| Apr 7, 2026 | 3B | $780,000 |
| Mar 9, 2026 | 20G | $525,000 |
| Jan 13, 2026 | 12F | $782,000 |
| Dec 17, 2025 | 3X | $650,000 |
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 1-00930-0001) 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.
What to know if you’re buying
The policy stack is the headline. 75 percent financing, pied-à-terre permission, co-purchasing, gifting, and guarantors — this is one of the more accommodating board frameworks in the area, and it materially widens who can buy here relative to stricter Gramercy co-ops. Run the Co-op Board Qualification Calculator before offering, but expect a rational process.
Underwrite the ground-floor economics. The 1983 offering plan disclosed garage and commercial master leases to owner-related entities as a special risk. Your attorney should establish the current status of those leases, the retail income, and the reserve position — we provide the plan and amendments from the Research Library to clients' counsel.
Balconies and line selection drive value. The asymmetrical massing means light and outdoor space vary sharply by line. Walk the specific exposure at different times of day; the spread between the best and weakest lines is wider here than in a conventional slab.
The location is a triangulation play. Gramercy Park, Madison Square Park, the Flatiron restaurant grid, and Union Square's Greenmarket are all a short walk; the 6 train at 23rd and Park is about 0.4 miles. The First Avenue medical corridor — NYU Langone, Bellevue, the VA — makes the building perennially attractive to medical staff and faculty, which supports resale demand.
Verify the fee stack. Sublet fees, any flip tax or transfer fee, and current waitlist timing for storage, bike room, and parking should all be confirmed with the managing agent before contract.
What to know if you’re selling
Market the service package against the maintenance. Buyers comparing boutique walk-ups and part-time-doorman stock often underestimate what full staff, an on-site office, and a direct-access garage are worth. State it plainly and price the carry with the True Monthly Carrying Cost Calculator.
Same-building comps are your anchor. With roughly 388 units, recent same-line sales exist for nearly every unit type. Pricing off neighborhood averages instead of building history is the most common seller error here.
Condition honesty wins. The renovated-versus-estate spread is wide and visible to every buyer touring multiple units in the building. Renovated units clear at premiums; original-condition units clear when priced to the renovation math — run the Renovation Cost Calculator against your asking strategy.
Comparable buildings
If you're considering 305 East 24th Street, also evaluate:
- 245 East 25th Street (Spruce Ridge House) — the post-war co-op neighbor one block north; the closest like-for-like
- Tracy Towers (245 East 24th Street) — post-war co-op directly across Second Avenue
- 300 East 23rd Street — nearby Gramercy-border alternative one block south
- 165 East 32nd Street — comparable full-service post-war co-op in Kips Bay/Murray Hill
- Quaker Ridge (267 Third Avenue) and The Peter James (201 East 25th Street) — the Third Avenue post-war co-op set at similar price points
- Kips Bay Towers (300–330 East 33rd Street) — the I.M. Pei-designed condominium alternative; condo mechanics at a higher price per foot
- 20 East 35th Street — Murray Hill post-war co-op for buyers widening the search north
The Roebling Team at New York Towers
The Roebling Team at Compass works the Gramercy and Kips Bay corridor as a core practice area. We publish this building profile because buyers and sellers at New York Towers deserve building-specific intelligence — conversion documentation, policy framework, and same-building pricing context — not generic neighborhood commentary.
If you're considering a transaction at 305 East 24th Street, a 30-minute consultation is the right starting point.