Gemstone Condominium
348 East 89th Street, between First and Second avenues · Upper East Side
BBL 1015517501 · BIN 1073488
- Year built
- 1915
- Type
- Condominium
- Amenities
- Common laundry; private gardens or roof decks with selected homes
- Landmark status
- Not an individual landmark; not in a historic district
- NYC Landmarks Preservation Commission and City Planning records, updated February 2026
Every recorded sale at this building, 2003–2026
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf, 2026 to date
- $1,101
- 1 sale
- Listing discount
- 0.0%
- Recorded sales
- 17
- On record
- 2003–2026
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at Gemstone 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.
Gemstone places fourteen condominium residences in a five-story prewar walk-up. Its apartment mix includes small studios, one-bedrooms, garden duplexes and upper-level homes with private roof decks. The private outdoor space is divided between the base and top of the building, giving those homes a different physical configuration from the apartments on the middle floors.
The condominium offering was accepted in December 1986 and became effective in September 1987 as a non-eviction conversion. The sponsor was East-West Renovating Co. The building now has dispersed ownership: the largest single owner holds one of the fourteen residential lots.
Architecture and unit composition
PLUTO dates the building to 1915. Its five-story scale and stair access are central to the experience of living here. An upper-level home involves the climb through the building as well as any stairs within the apartment; the garden homes occupy the lower part of the structure.
The original condominium mix included six studios, four one-bedrooms, two garden duplexes with recreation space and two upper duplexes with loft areas and roof decks. Studio sizes have been in the upper three hundreds of square feet, with one-bedroom configurations in the middle five hundreds to low six hundreds. The outdoor-space homes add a second level to the plan.
These differences make gross square footage an incomplete description of the layout. Recreation space below the garden level and an upper loft have different functions from a conventional bedroom on the principal living floor. The dimensions and legal use of each level matter most in the duplex configurations.
Building operations
Common laundry serves the building. There is no elevator, so moving furniture, everyday stair use and the route to an upper home's outdoor space are practical features of ownership here.
Each apartment is a separate condominium tax lot. All fourteen are in Tax Class 2, without the assessment-growth caps available to smaller tax classes, and no building tax abatement is recorded. The property's built floor-area ratio is below the current residential allowance; confirm with the managing agent and DOB records before assuming that gap permits an approved enlargement or a right to change a particular apartment.
Application and transaction fees
Fees below are from building management's published schedule, as of September 2026. They are shown as published, item by item; no total is added because the total depends on the transaction. Deposits are listed apart from nonrefundable charges.
Purchase
4 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Fee | Paid by Buyer | When With the application | Amount $750 | Refundable Non-refundable |
| Closing Fee | Paid by Buyer | When At closing | Amount $350 | Refundable Not stated |
| Documentation Fee | Paid by Buyer | When At closing | Amount $250 | Refundable Not stated |
Deposits
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Move In Deposit | Paid by Buyer | When At closing | Amount $500 | Refundable Refundable |
Rental or lease
2 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Fee | Paid by Tenant | When With the application | Amount $250 | Refundable Non-refundable |
Lease renewal
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Fee | Paid by Tenant | When With the application | Amount $75 | Refundable Non-refundable |
Management updates its schedule without a public filing. The date is when management last updated the page, not when a rule changed. Confirm the current schedule with management before you apply.
Considering an apartment here? Send Corey the listing to discuss the building's costs and purchase requirements.
Own an apartment here? Request an apartment-specific pricing review.
Building staffing and amenities
- Elevator
- NoSource: NYC Department of City Planning records (PLUTO)
- Amenities noted
- Roof deck, garden, laundry roomSource: The Roebling Team's building profile
Staffing and amenities as our building profile and recent listing records describe them. A feature not listed is not confirmed absent. Outdoor space, parking and some facilities can belong to particular apartments or to a separate owner; confirm access for the specific apartment.
Local Law 97
This building is below the 25,000 sq ft threshold at which LL97 limits apply to a building on its own. It is still covered if it shares a tax lot or condominium board with buildings totaling over 50,000 sq ft; confirm on DOB’s covered-buildings list.
See full Local Law 97 analysis →Recent sales
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 |
|---|---|---|---|---|---|
| Jan 28, 2026 | 6 | 1 BR · 636 sf | $700,000 | $1,101/sf | — |
| Dec 27, 2021 | 9E | 1 BR · 1 BA · 533 sf | $713,000 | $1,338/sf | +0.0% |
| Feb 6, 2018 | 1E | 2 BR · 2 BA · 666 sf | $1,162,500 | $1,745/sf | -10.6% |
| Oct 3, 2017 | 9E | 1 BR · 533 sf | $649,000 | $1,218/sf | -7.2% |
| Sep 26, 2016 | 1E | 2 BR · 2 BA · 655 sf | $650,000 | $992/sf | — |
| Oct 15, 2012 | 9W | 2 BR · 623 sf | $625,000 | $1,003/sf | — |
| Dec 4, 2009 | PH9E | 1 BR · 533 sf | $569,000 | $1,068/sf | — |
| Dec 1, 2008 | 6 | 1 BR · 636 sf | $500,000 | $786/sf | +0.0% |
Market read. Most recent trades (2026 to date) cleared a median $1,101/sf (recorded) across 1 sale. Median listing discount 0.0% from the last ask.
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 1-01551-7501; each condominium apartment is its own tax lot). 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.
Closed rents at Gemstone Condominium, last 36 months
| Size | Leases | Median / month |
|---|---|---|
| Studio | 2 | $2,822 |
3 closed leases, October 2023 to September 2026. Most recent lease June 2026. Based on few leases. Sizes with fewer than 2 leases are not shown. Compiled by The Roebling Team at Compass from closed leases.
What would your apartment rent for?
The figures above are the building's closed leases. Enter your apartment and I'll send you what yours would rent for, from comparable leases at Gemstone Condominium and nearby.
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.
Keep up with Gemstone Condominium and its market
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Comparable buildings
- 237 East 88th Street — A nearby prewar condominium with a similarly small residential inventory.
- 1628 Second Avenue — A close scale and tenure comparison in another older condominium building.
- 420 East 86th Street — A larger low-rise prewar condominium for comparing apartment mix and shared costs.
- Morgan House — A taller prewar condominium with a broader inventory than Gemstone.
- 507 East 80th Street — Another small prewar condominium, useful when tenure and limited scale drive the search.
More Upper East Side buildings
- 345 East 86th Street — 1971 co-op
- 345 East 93rd Street (Mill Rock Plaza) — 1974 co-op
- East Winds (345 East 80th Street) — 1973 condominium by Philip Birnbaum & Associates
- 350 East 72nd Street (Le Chambord) — 1988 condominium
- Wellington Tower (350 East 82nd Street) — 1998 condominium
- The Fontaine (353 East 72nd Street) — 1975 co-op
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 Gemstone Condominium?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.
646.939.7375 · c.cohen@compass.com