340 East 74th Street (The Avon House)

The Avon House is a disciplined example of its vintage: 12 stories of beige brick over a canopied entrance with landscaped sidewalk frontage, through-wall air conditioning in place of window units, and no balconies — the flat-faced massing typical of 1957 construction east of Second Avenue. The 119 apartments run from studios and one-bedrooms through two-bedroom lines, with the post-war proportions — defined foyers, dining alcoves, generous closets — that renovate well. The lobby and elevators have been renovated in recent cycles, and the landscaped roof deck, renewed per brokerage records, serves as the building's shared outdoor amenity.

Full-service at boutique scale: 24-hour doorman, live-in superintendent, central laundry, storage, and bike room, with the garage accessed on site through the commercial unit. The audited financial statements on file document figures for their covered reporting periods — maintenance of roughly $2.7 million annually across the share count, an annual operating assessment that approximates the real estate tax abatements credited back to eligible shareholders (read the maintenance and assessment lines together when comparing carrying costs), a designated reserve fund, and documented capital work on the boiler, risers, and garage roof. These historical figures do not establish current financial strength. The 2013-vintage mortgage carried a fixed 3.30 percent and was scheduled to mature in July 2023; the current loan terms are a first-order diligence item, since refinancing flows through to maintenance.

Recent sales

Recent transfers 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.

Market read. Most recent trades (2026 to date) cleared a median $897/sf (floor-adjusted) across 2 sales. 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 2.7% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.

Sales sourced from NYC Department of Finance recorded transfers (BBL 1-01448-7501). 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 on co-ops is not officially recorded, figures shown are approximate.

It lives like a co-op — underwrite it like one. Despite the condominium wrapper, purchases run through the cooperative's board process with a board package and approval. Run the Co-op Board Qualification Calculator before offering, and budget for the standard co-op timeline.

The terms are documented. Pied-à-terre purchases and 80 percent financing are permitted, and pets are permitted with conditions; co-purchase and gifting are permitted per brokerage records. If your purchase involves any of these structures, confirm current policy with the managing agent.

Understand the condop split before attorney review. The cooperative owns 93.92 percent of the common elements; the garage and most of the cellar belong to the separately owned commercial unit. Your attorney should review how shared building costs allocate between the units — the financial statements on file document the mechanics.

Ask about the mortgage refinancing. The documented loan was scheduled to mature July 1, 2023 with an approximately $4.8 million balloon. The terms the cooperative secured at refinancing shape the maintenance trajectory — request the current loan summary during diligence.

Price the fee stack into your net sheet. The 2 percent flip tax is seller-paid, but it shapes seller pricing behavior; buyers should also confirm move-in deposits and application fees with the managing agent. Run the Buyer Closing Cost Calculator on the specific deal.

Market the structure, precisely. "Condop with co-op pricing and condo-adjacent flexibility" is the accurate pitch: 80 percent financing, pied-à-terre, co-purchase, and gifting all permitted. Buyers' agents screening for flexible buildings will surface yours if the marketing states the policies plainly.

Net out the flip tax from day one. The 2 percent seller-paid transfer fee, documented in the plan amendments on file, belongs in your pricing math at listing — run the Seller Closing Cost Calculator before setting the ask.

Condition drives the spread. In a 119-unit building with simple line structure, renovated units clear at visible premiums and estate units price to the renovation math. The Renovation Cost Calculator is the honest anchor for either side of that conversation.

If you're considering 340 East 74th Street, also evaluate:

• The Forum (343 East 74th Street) — the large condop tower directly across the street; the bigger-building alternative with the same ownership structure
• 200 East 74th Street — white-brick post-war co-op at the Third Avenue corner of the same street; the conventional co-op alternative one block west
• 305 East 72nd Street — large post-war full-service co-op two blocks south
• 360 East 72nd Street — post-war co-op with garage and grounds; the scale step-up
• 333 East 79th Street — the two-building First Avenue Owners co-op campus five blocks north; similar policy flexibility at far larger scale
• St. Tropez (340 East 64th Street) — the early Lenox Hill condominium alternative for buyers who want full condo mechanics