45 Park Avenue
45 Park Avenue, New York, NY 10016
BBL 1008927503 · BIN 1087674
- Year built
- 2006
- Type
- Condominium
- Units
- 101
- Floors
- 21
- Pets
- Permitted under condominium rules
- Pied-à-terre
- Generally allowed in condominiums; not confirmed for this building
- Land
- Owned by the building's owners
- The Roebling Research Desk's building record
- Landmark status
- Not an individual landmark; not in a historic district
- NYC Landmarks Preservation Commission and City Planning records, updated February 2026
- Doorman
- Full-time doorman
- Financing
- No building financing limit stated in the materials reviewed; lender underwriting applies.
- Subletting
- Not stated in the materials reviewed; confirm leasing rules, any rental cap and any right of first refusal in the by-laws and house rules.
- Land
- Fee simple (condominium; no ground lease indicated).
- Tax status
- Condominium taxed as a homeowners' association under IRC Section 528 (elected 2009 & 2010).
- Managing agent
- Penmark Management, LLC
Compiled by The Roebling Research Desk from the building’s offering plan, amendments, and related building documents (primary source dated 2026). Reported and subject to confirmation. Board policies can change by amendment — confirm at the offer stage.
Every recorded sale at this building, 2007–2026
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf, 2026 to date
- $1,599
- 6 sales
- Listing discount
- 4.8%
- Recorded sales
- 199
- On record
- 2007–2026
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 45 Park 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.
45 Park Avenue is among the new-construction luxury condominiums that anchored the mid-2000s Park Avenue South / Murray Hill new-build cycle. The First Closing on October 1, 2007 places the building in the same general vintage cohort as the broader 2006–2009 Manhattan luxury condominium boom (the era that produced 15 Central Park West, the Trump Park Avenue conversion, and a substantial cohort of mid-2000s new construction across Manhattan).
The Park Avenue / East 37th corner positioning places 45 Park at the southern end of the Park Avenue residential tradition — south of Grand Central Terminal and within Murray Hill, a residential neighborhood whose character is defined by a mix of pre-war cooperative buildings (chiefly between Madison and Third, East 34th to East 40th), new-construction condominiums, and the proximity to the broader Midtown East commercial corridor.
The building's 101 residential unit lots plus 16 separately deeded parking condominium units is a notable design choice. New-construction Manhattan condominiums frequently include parking, but the structure of selling parking spaces as separately deeded condominium units (rather than as licensed spaces under a master parking lease) creates separately deeded interests whose transfer rules, title, charges and resale value must be reviewed individually; deeded status alone does not guarantee liquidity or retained value.
The building includes 2 professional units. Their existence does not establish association rental income; confirm ownership, leases, common-charge allocations and any income in the current financial statements.
For buyers, 45 Park represents a particular tier of Murray Hill inventory: new-construction luxury condominium with full amenity services, the structural advantage of separately deeded parking spaces, and Park Avenue address positioning at a materially more accessible pricing tier than the trophy Park Avenue corridor (Lenox Hill 60s–80s and Carnegie Hill 86th–96th).
Architecture and unit composition
The 101 residential unit lots distribute across the building's stories in standard luxury-condominium configurations — typically including 1 BR, 2 BR, and 3 BR layouts, with larger combined units possible on premium floors. Ceiling heights, finishes, and apartment infrastructure reflect the mid-2000s luxury new-construction standard.
Pre-war-adjacent design signatures (consistent with the broader Park Avenue residential idiom) include limestone-clad base, classical detailing at the entrance, and a residential character distinct from glass-curtain-wall supertall construction.
The Resident Manager's Unit (Unit 305) is leased from the Sponsor to the Condominium Association under a structured arrangement — initial 3-year lease at $1/year for the first two years, then $6,744/month for the third year (commencing October 1, 2007). The Association subsequently capitalized to purchase the Resident Manager's Unit outright via a $25,000/month assessment commencing June 2009.
The 16 parking condominium units provide individually deeded parking spaces. The 2 professional units offer commercial/office space.
Building operations
45 Park Avenue operates as a luxury condominium with full-time doorman, on-site superintendent, building monitoring system, and the standard condominium-tier amenities for the building's size and price point. Management is provided by Penmark Management, LLC.
Financial profile (FY 2009):
| Line Item | 2009 |
|---|---|
| Total revenue | $1,683,726 |
| Members' common charges | $1,649,807 |
| Interest income | $12,990 |
| Late charges | $18,580 |
| Total expenses | $1,594,919 |
| Payroll + employee benefits | $814,519 |
| Real estate / utilities | ~$330,000 (fuel + electricity + gas + water + sewer combined) |
| Excess of revenues over expenses | $88,807 |
The 2009 financial position showed positive operating performance ($88K excess of revenues over expenses), with prior year (2008) showing a stronger $156K excess. The Association maintained a healthy members' equity position ($796K at end of 2009) following two years of operations.
Letter of Credit (Con Edison utility deposit): The Condominium obtained a $43,990 letter of credit from Signature Bank in lieu of depositing additional funds with Con Edison — a standard new-construction condominium financing arrangement.
Income tax treatment: The Association elected to be taxed as a homeowners' association under IRC Section 528 (not as a regular corporation) in 2008 and 2009, allowing for favorable tax treatment of member fees.
Capital expenditure framework: The Association capitalized to acquire the Resident Manager's Unit from the Sponsor through a structured monthly $25,000 assessment commencing June 2009, totaling approximately 17 monthly installments through October 2010 to align with the expiration of the original Sponsor lease.
Monthly carrying charges in recent sales
- Common charges + taxes, per room
- $1,048 per room a monthMedian of 10 recorded sales since October 2023Source: recorded sales, refreshed October 2026
- Common charges + taxes, per square foot
- $3.46 per square foot a monthMedian of 10 recorded sales since October 2023Source: recorded sales, refreshed October 2026
- Common charges alone, per square foot
- $1.88 per square foot a monthMedian of 10 listings since October 2023 that give the annual taxSource: listing records, refreshed October 2026
- Real estate taxes alone, per square foot
- $1.64 per square foot a monthMedian of 10 listings since October 2023 that give the annual taxSource: listing records, refreshed October 2026
Common charges plus real estate taxes, combined into one monthly figure the way New York condominium listings show them. Add a mortgage payment for the monthly outlay. The split into common charges and taxes comes from the listings that also give the annual tax, a different sample, so the two lines need not add up exactly to the combined median; a tax abatement can hold taxes below the full amount until it expires. A summary of recorded sales and listings, not a current bill; charges change.
Building staffing and amenities
- Doorman
- Full-time doormanSource: The Roebling Team's building profile
- Concierge
- YesSource: recent listing records
- Live-in superintendent
- YesSource: The Roebling Team's building profile
- Elevator
- YesSource: NYC Department of Buildings elevator records
- Amenities noted
- Fitness room, garage, bike storageSource: 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
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $42,401/yr
- Per unit / month range
- $0 – $35
- Modeled exposure split equally across 101 units (the residential count on the city's lot record). Not an assessed amount; condominium owners are typically charged by each unit's common-interest percentage.
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 FISP filing classified the facade as Safe — no repairs were required at that inspection. A filed Safe grade is not a guarantee of current condition: owners still maintain the facade and, where required, observe parapets each year. Future inspection timing (Local Law 49 of 2025 changed the cycle framework from October 1, 2026), repair and any assessment decisions remain building-specific.
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
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 |
|---|---|---|---|---|---|
| Sep 18, 2026 | 2101 | 2 BR · 2.5 BA · 1,519 sf | $2,535,000 | $1,669/sf | -1.6% |
| Aug 7, 2026 | 1005 | 1 BR · 1 BA · 676 sf | $1,055,000 | $1,561/sf | +5.5% |
| Jul 20, 2026 | 304 | 1 BR · 1.5 BA · 913 sf | $1,320,000 | $1,446/sf | -4.7% |
| May 26, 2026 | 1506 | 1 BR · 1.5 BA · 859 sf | $1,500,000 | $1,746/sf | -6.0% |
| May 13, 2026 | 706 | 1 BR · 1.5 BA · 871 sf | $1,425,000 | $1,636/sf | +0.0% |
| Apr 6, 2026 | 202 | 1 BR · 1.5 BA · 958 sf | $1,200,000 | $1,253/sf | -4.0% |
| Jul 29, 2025 | 1904 | 1 BR · 1.5 BA · 970 sf | $1,650,000 | $1,701/sf | -2.7% |
| May 29, 2025 | 1801 | 2 BR · 2.5 BA · 1,519 sf | $2,450,000 | $1,613/sf | -2.0% |
Market read. Most recent trades (2026 to date) cleared a median $1,599/sf (recorded) across 6 sales. Median listing discount 4.8% 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.
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 1-00892-7503; 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 45 Park Avenue, last 36 months
| Size | Leases | Median / month |
|---|---|---|
| 1 bedroom | 11 | $6,500 |
| 2 bedroom | 4 | $10,750 |
15 closed leases, October 2023 to September 2026. Most recent lease September 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 45 Park Avenue and nearby.
At the recent median sale of $1.43M (11 sales in the past 24 months, since November 13, 2024), a buyer putting 25% down would pay about $61,260 to close, or 4.3% of the price.
- Mansion tax: $14,250
- Mortgage recording tax: $20,573
- Title insurance: $6,412
- Attorneys, lender, building fees, reserves and filings: $20,024
Assumes a resale (the seller pays transfer taxes), a $4,500 attorney fee and a mortgage on the rest.
Keep up with 45 Park Avenue and its market
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What to know if you’re buying
Evaluate the parking interest separately. The 16 parking condominium units are individually deeded. Review each unit's transfer restrictions, title and charges, and establish price from dated parking-unit sales rather than an unsupported neighborhood range.
The Murray Hill tier differs materially from the trophy Park Avenue corridor. Buyers attentive to differentiation should understand that 45 Park is a new-construction Murray Hill luxury condominium — distinct from the pre-war Lenox Hill (60s–80s) and Carnegie Hill (86th–96th) trophy cooperative corridor. Pricing reflects this distinction; the Murray Hill tier is materially more accessible.
Condominium structure offers maximum flexibility. Foreign buyers welcome; pied-à-terre and investment use permitted; subletting allowed under the condominium declaration.
Confirm specific policies directly with management. Current pet policy details, sublet specifics, common charge levels, current capital expenditure pipeline, and the post-2010 history of the Resident Manager's Unit acquisition should be confirmed during contract review.
Working Capital Fund contribution at closing: Each purchaser must contribute 2 months' common charges to the Working Capital Fund — a one-time, non-refundable payment to the Association at closing.
Murray Hill neighborhood character is specific. Lower-pressure than the Madison Avenue / Upper East Side commercial corridor; quiet residential blocks; mix of pre-war cooperative inventory and newer construction; proximate to Grand Central, the East 30s subway access, and the broader Midtown East commercial corridor.
What to know if you’re selling
Pricing requires Murray Hill / Park Avenue South-tier comparable analysis. Do not benchmark against the trophy Park Avenue corridor north of 60th — different buyer pool, different pricing tier.
The parking value should be marketed separately when relevant. If the unit includes a parking condominium, list and price it as a distinct value attribute.
Comparable buildings
If you're considering 45 Park Avenue, also evaluate:
- 10 Park Avenue — nearby pre-war Murray Hill peer
- 35 Park Avenue — Murray Hill building for comparison
- 67 Park Avenue — pre-war Murray Hill peer
- 71 Park Avenue — pre-war Murray Hill peer
- The Murray Hill condominium (150 East 39th)
- The Sky House (11 East 29th)
More Park Avenue buildings
- 10 Park Avenue — 1932 co-op
- 35 Park Avenue — 1955 co-op by Sylvan and Robert Bien
- 50 Park Avenue — 1940 co-op
- 67 Park Avenue — 1921 co-op by Schwartz & Gross
- 71 Park Avenue — 1924 condominium by Walker & Gillette
- 77 Park Avenue (The Griffon) — 1924 condominium
The neighborhood
For the full corridor — architecture, transit, and pricing across Park Avenue — read The Roebling Team Guide to Park Avenue.
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 45 Park 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