- Type
- Cooperative
- Units
- About 250
- Landmark status
- Not an individual landmark; not in a historic district
- NYC Landmarks Preservation Commission and City Planning records, updated February 2026
- Subletting by shareholders
- Permitted with conditions
- Pets
- Pets permitted with conditions; species not stated
- Washer/dryer
- Not permitted
- Flip tax
- 2% of the purchase price, paid by the seller
- Doorman
- Full-time doorman
Every recorded sale at this building, 2003–2026
Bedroom-by-bedroom medians, the full transfer record, and how units trade against ask.
- 1BR median, 2023–2026
- $645K
- 19 qualifying sales
- Recent range
- $430K – $1.8M
- Listing discount
- 2.5%
- Recorded transfers
- 253
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.
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. Compare their governance requirements, current carrying costs and recent matched apartment sales with the corridor's prewar and newer condominium alternatives; tenure alone does not establish a price discount.
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.
Application and transaction fees
Fees below are from building management's published schedule, as of October 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.
- Terms
- Equal to 2% of the gross sale price
- Rate
- 2% of the purchase price
- Paid by
- Seller
Source: building management's published schedule, as of October 2026
Purchase
8 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Processing Fee | Paid by Buyer | When With the application | Amount $750 | Refundable Not stated |
| Credit Check FeePer applicant | Paid by Buyer | When With the application | Amount $110 per applicant | Refundable Not stated |
| Move In Fee | Paid by Buyer | When At closing | Amount $500 | Refundable Non-refundable |
| Recognition FeeConditionalConditions: If Financing | Paid by Buyer | When At closing | Amount $350 | Refundable Non-refundable |
| Move Out Fee | Paid by Shareholder | When At closing | Amount $500 | Refundable Non-refundable |
| Transfer Agent Fee | Paid by Shareholder | When At closing | Amount $1,000 | Refundable Non-refundable |
Deposits
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Move-In Deposit | Paid by Buyer | When At closing | Amount $1,000 | Refundable Refundable |
| Move-Out Deposit | Paid by Shareholder | When At closing | Amount $1,000 | Refundable Refundable |
Refinance
2 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Processing Fee | Paid by Shareholder | When With the application | Amount $500 | Refundable Non-refundable |
| Credit Check FeePer applicant | Paid by Shareholder | When With the application | Amount $110 per applicant | 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.
Financing and purchase requirements
- Co-purchasing
- Permitted with conditionsCase by caseSource: building management's published schedule, as of October 2026
- Parent buying for an employed child
- Not permittedSource: building management's published schedule, as of October 2026
- Parent buying for a student child
- Not permittedSource: building management's published schedule, as of October 2026
Sublet and pied-à-terre policy
A condominium owner leasing a unit and a co-op shareholder subletting are different rules, and a building-wide rule is different from a restriction on one apartment. This is the building's rule; confirm it for the specific apartment.
- Subletting by shareholders
- Permitted with conditionsRestrictedSource: The Roebling Team's building profile
- Short-term rentals
- Not permittedSource: building management's published schedule, as of October 2026
- Pied-à-terre ownership
- Not verified
Considering an apartment here? Send Corey the listing to discuss the sublet and pied-à-terre rules for that apartment.
Pets and in-unit washer/dryer
- Pets
- Pets permitted with conditions; species not statedWith Board approval. Max 2 pets per apartment.Source: building management's published schedule, as of October 2026
- In-unit washer/dryer
- Not permittedSource: building management's published schedule, as of October 2026
Considering an apartment here? Send Corey the listing to confirm the pet and washer/dryer rules for that apartment.
Monthly carrying charges in recent sales
- Maintenance, per room
- $494 per room a monthMedian of 24 recorded sales since October 2023Source: recorded sales, refreshed October 2026
- Maintenance, per square foot
- $2.01 per square foot a monthMedian of 15 recorded sales since October 2023Source: recorded sales, refreshed October 2026
Maintenance as recorded with each sale. A co-op's maintenance already covers the building's real estate taxes and the building's own mortgage, if it has one; add your own loan payment for the monthly outlay. A summary of recorded sales, not a current bill; charges change.
Building staffing and amenities
- Doorman
- Full-time doormanSource: recent listing records
- Concierge
- YesSource: recent listing records
- Elevator
- YesSource: NYC Department of City Planning records (PLUTO)
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
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $221,222/yr
- Per unit / month range
- $0 – $73
- Modeled exposure split equally across 252 units (the residential count on the city's lot record). Not an assessed amount; co-op shareholders are typically charged by share allocation.
Source: NYC LL84 benchmarking and PLUTO · The Roebling Research Library. City data last refreshed October 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →Facade safety — Local Law 11
The latest available filing classified the facade as SWARMP — Safe With A Repair and Maintenance Program: the inspector (QEWI) identified conditions requiring monitoring or repair, with repairs due by the deadline stated in the filing. The scope, timeline, and how the building funds the work are building-specific — we review the filings and board materials for you.
How to read this, and where it comes from
QEWI = Qualified Exterior Wall Inspector — a licensed professional engineer or registered architect who meets DOB’s FISP qualifications and signs the report (the independent expert, not the managing agent).
Source: NYC DOB facade filings (FISP) · The Roebling Research Library. City data last refreshed October 2026.
Recent sales
407 Third Avenue transfers through cooperative shares rather than unit deeds, but that legal form does not prescribe a pricing metric. Compare recent in-building and comparable-building sales by floor, exposure, light, layout, renovation condition and maintenance. Reliable interior measurements can support price-per-square-foot comparisons; price per room is useful only with a consistent room definition. A claimed discount to prewar or newer condominium stock needs matched sales evidence.
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.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Sep 3, 2026 | 2R | 1 BR · 1 BA | $825,000 | +0.0% | |
| Jul 20, 2026 | 9N | 1 BR · 1 BA · 600 sf | $542,000 | $903/sf | +0.0% |
| 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% |
Market read. Most recent trades (2026 to date) cleared a median $811/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 2.0% 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). 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.
Closed rents at 407 Third Avenue, last 36 months
| Size | Leases | Median / month |
|---|---|---|
| Studio | 2 | $3,847 |
| 1 bedroom | 7 | $5,030 |
Also $74 per sq ft per year (11 leases that report square footage). 11 closed sublet leases, October 2023 to September 2026. Most recent lease July 2026. 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 407 Third Avenue and nearby.
At the recent median sale of $615K (17 transfers in the past 24 months, since October 31, 2024), a buyer putting 25% down would pay about $10,856 to close, or 1.8% of the price.
- Mansion tax: $0
- No mortgage recording tax or title insurance on a co-op purchase
- Attorneys, lender, building fees and filings: $10,856
Assumes a resale (the seller pays transfer taxes), a $4,500 attorney fee and a mortgage on the rest.
Keep up with 407 Third Avenue and its market
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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.
Compare similar apartments. Match layout, floor, exposure, condition and carrying costs against recent in-building and corridor sales. Use reliable interior area where available, and define room counts consistently if calculating price per room.
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 at $1M or more. 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 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.
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 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.
646.939.7375 · c.cohen@compass.com