349 East 49th Street (Beekman Court)

The building runs six stories across a 225-foot frontage, with the parcel wrapping toward the First Avenue corner and a retail base of roughly 9,000 square feet along the avenue per city records. The roughly 105 apartments run from studios through two-bedrooms, with combinations creating larger units over the years. The pre-war kit is intact in most lines: foyers, hardwood floors, windowed kitchens and baths, ceilings above nine feet, and the sunken living rooms that mark the building's better units. Sixth-floor apartments trade on sky and treetop views over the low Turtle Bay blocks. There is no garage and no amenity floor; the product is the apartment itself.

This is a doorman co-op run to pre-war norms: canopied entrance, basement storage, central laundry-era infrastructure, and a managing agent handling day-to-day operations. The policy framework is moderate rather than restrictive — pets, pieds-à-terre, and diplomats are permitted per brokerage records, the latter a practical accommodation to the UN community that anchors the neighborhood. Subletting is permitted but disciplined: two years in any five, one-year terms with board review for renewal, and a 10 percent-of-annual-maintenance fee per brokerage records. The 1982 offering plan and the 2015 twenty-fourth amendment (with certified financial statements for 2012–2014) are on file in The Roebling Research Library; current financials should be requested through the managing agent during diligence.

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 $822/sf (floor-adjusted) across 3 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 2.0% 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 1-01342-0023). 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.

This is the pre-war value play in a prestige pocket. A block from Beekman Place, two from the UN, with Felson architecture and genuine pre-war proportions — at pricing far below the corridor's white-glove stock. If the Beekman Place co-ops are out of range, this is the structurally sensible alternative, not a consolation.

Underwrite the sublet math honestly. Two years in any five with board review is workable for a sabbatical or a relocation, not for an investment strategy. Buyers needing rental flexibility should compare condop and condo alternatives before committing. Run the Co-op Board Qualification Calculator before offering.

The diplomat policy is a feature of the micro-market. UN adjacency shapes this neighborhood's buyer and renter pools, and brokerage records describe the building as open to diplomatic purchasers. Confirm that policy, and the board's current financing, occupancy and subletting requirements, from the governing documents and application instructions.

Verify the financing ceiling and fee stack. Financing is permitted with major lenders approved, but the maximum percentage and any flip tax are not firmly documented publicly. Your attorney should confirm both against the by-laws and the managing agent — we provide the offering plan and amendment from the Research Library as the baseline.

Walk the block at both ends. The First Avenue end carries retail activity and UN-related traffic patterns (including periodic General Assembly security closures each fall); mid-block is markedly quieter. Line selection within the building should follow the same logic.

Lead with the architecture. Felson, 1940, the three-pavilion facade, the lobby, the sunken living room — this building has a real design story in a tier where most competing listings have none. Use it with precision.

Position against Turtle Bay's full spread. Your buyer is cross-shopping pre-war co-ops from Tudor City to the Beekman fringe. The pitch is the block: closer to the river and the UN gardens than Second Avenue stock, at a discount to anything carrying a Beekman Place address.

Documentation accelerates deals here. Because we hold the offering plan and amendment history, serious buyers' attorneys get answers fast — board control history, by-laws, and conversion terms — which shortens the contract timeline. Price with the Seller Closing Cost Calculator before listing.

If you're considering 349 East 49th Street, also evaluate:

• 1 Beekman Place — the corridor's blue-chip pre-war co-op; the prestige ceiling a block east
• 2 Beekman Place — boutique pre-war Beekman alternative
• 415 East 52nd Street (Sutton House) — full-service post-war co-op; the step-up in scale and services
• 860 United Nations Plaza and 870 United Nations Plaza — the modernist co-op towers over the East River; the view-driven alternative
• 2 Tudor City Place and 25 Tudor City Place — Tudor City residential alternatives south of 43rd Street; compare their individual construction eras, ownership forms and apartment characteristics
• 321 East 45th Street — pre-war Turtle Bay co-op stock in the same value tier
• 430 East 58th Street (Sutton Tower) — the new-development condo alternative north of the corridor