- Year built
- 1960
- Type
- Condominium
- Units
- 1
- Floors
- 20
- Landmark
- No
- Pets
- No dogs (service and support animals excepted); confirm current house rules at offer stage
- Subletting
- Permitted under the condominium declaration
- Pied-à-terre
- Allowed
Every recorded sale at this building, 2004–2026
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $1,210
- Listing discount
- 2.6%
- Recorded sales
- 120
- On record
- 2004–2026
Kips Bay Towers is one of the most architecturally significant postwar residential buildings in Manhattan. When William Zeckendorf's Webb & Knapp took over the stalled NYU-Bellevue Title I urban-renewal site in 1957, they assigned the design to I.M. Pei — for whom this became his first large-scale housing project and his first exploration of the exposed, structurally expressive reinforced concrete that would define his signature. Pei reduced the built form to two matched 410-foot slabs set on the north and south edges of a full superblock, freeing the interior for open green space in a European planning idiom that was radical for New York in 1960.
The design's most recognizable feature is the deep concrete grid itself: large, near floor-to-ceiling picture windows with rounded interior reveals, recessed far enough into the structure to read as sheltered loggias. That recessing was not only aesthetic — it allowed the windows to qualify as balconies, which made the project eligible for the FHA subsidies that underwrote its economics. The result is a building that photographs as pure modernist sculpture and lives as unusually light-filled apartments.
Kips Bay was converted from rental to condominium in 1981 under a non-eviction plan. It is one of the earliest and largest of the era's conversions, and today it trades as a full-service condominium — with the flexibility of pied-à-terre, investor, and sublet ownership that condominium structure allows — wrapped around one of the largest private landscaped landscapes in the neighborhood.
Building operations
Kips Bay Towers operates as a full-service condominium with 24-hour doorman and concierge coverage, a live-in resident manager, a fitness center, a community/party room, an on-site parking garage, private storage, a bike room, and laundry. The private gardens and recreation facilities are maintained for residents.
A note on house rules: the building has historically maintained a no-dog policy (with the customary exceptions for service and support animals), which is unusual for a Manhattan condominium and material for buyers relocating with pets. Confirm the current pet policy and any sublet application procedure with the managing agent during due diligence.
Recent sales
Kips Bay Towers trades as one of the more accessible entry points into architecturally significant, full-service condominium living in lower Midtown. The building's average recent pricing has run in the range of roughly $1,100–$1,150 per square foot, with studios and one-bedrooms forming the bulk of inventory and larger two- and three-bedroom combinations trading less frequently. Because the condominium permits pied-à-terre, sublet, and investor ownership, the building draws a broad buyer pool — primary residents, downsizers drawn to the grounds and light, and investors — which supports liquidity across cycles.
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 15, 2026 | 12K | 1 BR · 1 BA · 763 sf | $890,000 | $1,166/sf | -1.0% |
| Jan 9, 2026 | 6M | 3 BR · 2 BA · 1,206 sf | $1,675,000 | $1,389/sf | off-mkt |
| Jan 5, 2026 | 10P | 1,206 sf | $675,000 | $560/sf | off-mkt |
| Oct 10, 2025 | 16A | 1 BR · 1 BA · 756 sf | $827,500 | $1,095/sf | -2.5% |
| Aug 15, 2025 | 17E | 1 BA · 470 sf | $625,000 | $1,330/sf | off-mkt |
| Aug 13, 2025 | 10E | 5 BR · 1 BA · 470 sf | $643,646 | $1,369/sf | -1.0% |
| Jun 12, 2025 | 4N | 1 BR · 1 BA · 726 sf | $830,000 | $1,143/sf | -2.4% |
| Jun 11, 2025 | 15A | 1 BR · 1 BA · 756 sf | $790,000 | $1,045/sf | -1.3% |
Market read. Most recent trades (2026) cleared a median $1,210/sf across 3 sales. Median listing discount 2.6% 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.
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 1-00936-7501) 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 architecture is the product. This is an I.M. Pei modernist landmark, not a generic postwar tower. Buyers who value the light, the concrete grid, and the private gardens find Kips Bay distinctive; view apartments in person to understand the exposure and the reveal-deep windows.
Confirm the pet policy. The building has historically restricted dogs. If you are relocating with a dog, verify the current house rules before you commit.
Condominium flexibility is real. Pied-à-terre, investment use, and subletting are permitted under the declaration, and closings run on condominium timelines. Confirm any sublet application procedure with the managing agent.
Garden versus avenue matters. Interior garden exposures are quieter and greener; avenue exposures carry more light and more street activity. The premium and the trade-offs are real — decide which you value.
Model the full carry. Run common charges, property taxes, utilities, and any parking or amenity fees together to understand the true monthly cost. Use the calculators below.
What to know if you’re selling
Lead with the architecture and the grounds. The Pei pedigree, the floor-to-ceiling picture windows, and the private three-acre garden are the building's differentiators. Marketing that treats it as generic postwar inventory leaves value on the table.
Condition and exposure drive price. Renovated, well-exposed apartments clear well; dated units and challenged exposures require sharper pricing and patience.
Pricing requires apartment-level context. With more than a thousand apartments and steady turnover, comps are plentiful but heterogeneous — floor, line, exposure, and renovation state all move the number.
Closing timelines are condo-fast. 30–45 days from contract to closing is typical.
Comparable buildings
If you're considering Kips Bay Towers, also evaluate:
- The Corinthian (330 East 38th Street) — 1988 full-service Murray Hill condominium; curved bay windows; deep amenity package
- 300 East 23rd Street — Gramercy-edge condominium
- 240 East 47th Street — Midtown East condominium
- 303 East 33rd Street — Kips Bay condominium
- The Alden — full-service prewar-to-condo living
The Roebling Team at Kips Bay Towers
The Roebling Team at Compass specializes in Manhattan's condominium and cooperative market, including the postwar and modernist buildings that define lower Midtown and the East Side. We publish this building profile because buyers and sellers deserve building-specific intelligence — architecture, operational reality, transactional mechanics, and the realities of pricing at the apartment level — not generic market commentary.
If you're considering a purchase or sale at Kips Bay Towers, 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 — financial structuring, due diligence priorities, comparable analysis at the apartment level, and the pacing strategy 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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