- Type
- Cooperative
- Units
- 250
- Landmark
- No
- Pets
- Set by the cooperative's house rules
- Subletting
- Cooperative subletting is generally limited and board-governed; confirm current rules
Every recorded sale at this building, 2003–2026
Bedroom-by-bedroom medians, the full transfer record, and how units trade against ask.
- 1BR median
- $658K
- Recent range
- $430K – $1.8M
- Listing discount
- 2.5%
- Recorded transfers
- 269
407 Third Avenue is a large 1960s cooperative in Kips Bay, the residential pocket between Murray Hill and the East 20s on Manhattan's east side. Big postwar co-ops of this kind — several hundred apartments under a single share structure — are the workhorses of middle-market Manhattan ownership. They deliver established carrying-cost economics, a settled co-op governance culture, and per-room pricing that sits well below both the prewar trophy stock and the corridor's newer condominium product.
For owner-occupiers, the appeal is value and stability: a solid postwar building convenient to Murray Hill, Kips Bay, Gramercy, and Midtown East, at cooperative pricing that rewards buyers willing to work within board structure. A large share count typically spreads operating costs across many apartments, which can support comparatively stable maintenance — a meaningful consideration for long-term owners.
Architecture and unit composition
407 Third Avenue is a mid-century postwar cooperative — a masonry residential building of the 1960s, with the practical layouts and solid construction characteristic of the era. The apartment mix runs to studios, one-bedrooms, and two-bedrooms sized for owner-occupancy. Postwar co-ops of this vintage generally offer good light and sensible room counts; ceiling heights and window proportions are mid-century rather than prewar, and finish condition varies apartment by apartment depending on each unit's renovation history.
Building operations
407 Third Avenue operates as a cooperative, with a single monthly maintenance charge per apartment that bundles building operating costs and the unit's share of the underlying mortgage and real estate taxes. As a large postwar co-op, it is governed by a board that reviews purchases and sets house rules. Buyers should expect a board-approval process and should review the building's financial statements, maintenance history, reserve position, the underlying mortgage, and any assessments as part of diligence.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $167,725/yr
- Per unit / month range
- $0 – $55
Facade safety — Local Law 11
The latest available filing classified the facade as SWARMP — Safe With A Repair and Maintenance Program: the engineer identified conditions requiring monitoring or repair before the next inspection cycle. The scope, timeline, and how the building funds the work are building-specific — we review the filings and board materials for you.
QEWI = Qualified Exterior Wall Inspector — the licensed engineer the city requires to sign the report (the independent expert, not the managing agent). Source: NYC DOB facade filings (FISP) · The Roebling Research Library.
See the full facade history →Recent sales
407 Third Avenue is a cooperative, so its market reads on a price-per-room basis rather than price per square foot — co-op apartments are measured and marketed by room count, and recorded transfers register through the share structure rather than as deeds. As a corridor matter, large postwar Kips Bay and Murray Hill co-ops have generally traded at a meaningful discount to both the prewar trophy stock and newer condominium product, with pricing sensitive to floor, exposure, light, room count, renovation condition, and the building's maintenance level. Because apartments are heterogeneous, per-room, per-apartment comparison beats a blended average; we model each prospective transaction against recent in-building and comparable-building co-op trades.
Recent transfers 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 |
|---|---|---|---|---|---|
| May 14, 2026 | 14S | 1 BR · 1 BA · 825 sf | $615,000 | $745/sf | -3.1% |
| Jan 21, 2026 | 16G | 1 BR · 1 BA | $615,000 | +0.0% | |
| Sep 4, 2025 | 7H | 1 BA · 510 sf | $430,000 | $843/sf | +1.2% |
| Aug 6, 2025 | 6B | 1 BA | $445,000 | -4.3% | |
| Jun 18, 2025 | 8S | 1 BR · 1 BA · 825 sf | $645,000 | $782/sf | -3.6% |
| Jun 13, 2025 | 21BC | 3 BR · 2 BA | $1,849,000 | +1.3% | |
| Apr 21, 2025 | 12B | 1 BA · 615 sf | $435,000 | $707/sf | +0.0% |
| Apr 18, 2025 | 15J | 2 BR · 1 BA · 950 sf | $860,000 | $905/sf | -4.3% |
Market read. Most recent trades (2026) cleared a median $722/sf across 1 sale. Median listing discount 1.9% 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.
Other recent transfers
| Date | Unit | Price |
|---|---|---|
| Nov 7, 2006 | 4H | $290,000 |
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 1-00909-0001) 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; square footage on co-ops is not officially recorded, figures shown are approximate.
What to know if you’re buying
This is a board-approved cooperative. Expect a financial review, a board package, and an interview. Cooperative ownership generally restricts pied-à-terre, investor, and subletting use; confirm current policy and any flip tax with the managing agent before committing.
Price on $/room and per apartment. Capture room count, floor, exposure, and renovation condition, and compare against recent in-building and corridor co-op trades rather than condominium $/sf figures.
Maintenance is the carrying number. Review the monthly maintenance, the building's financials, the underlying mortgage, reserves, and any assessment history. In a large postwar co-op, operating economics across many units are central to value.
Mansion tax applies above $1M. Run any prospective purchase through the Mansion Tax Calculator.
What to know if you’re selling
Buyer qualification matters early. In a cooperative, the strongest offer is the one most likely to clear the board; financial strength and a clean package weigh alongside price.
Position on rooms and condition. Room count, light, exposure, and renovation state separate comparable apartments; price to where a specific unit sits within that range.
Set expectations on timeline. Board approval extends the contract-to-close window relative to a condominium; build that into pacing.
Comparable buildings
If you're considering 407 Third Avenue, also evaluate:
- 160 East 38th Street — Murray Hill cooperative; comparable postwar value profile
- 50 Park Avenue — Murray Hill cooperative; corridor peer
- 382 Second Avenue — large Gramercy postwar cooperative; direct corridor peer
- 115 East 9th Street — large postwar cooperative; comparable governance and carrying-cost profile
- 34 Gramercy Park East — the corridor's prewar co-op trophy reference point
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Gramercy — read The Roebling Team Guide to Gramercy.
The full playbook — what goes in the package, how boards read your financials, the interview, and the timeline — plus sample cover, reference, and personal letters you can adapt.
Considering a move at 407 Third Avenue?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 407 Third Avenue 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.