61 Lexington Avenue
61 Lexington Avenue, New York, NY 10010
Kips Bay
BBL 1008817501 · BIN 1018105
- Year built
- 1980
- Type
- Cooperative
- Units
- 40
- Floors
- 7
- Landmark
- No
- Pets
- Permitted with board approval
- Subletting
- Unlimited subletting from day one (investor-friendly), with board approval
- Pied-à-terre
- Allowed
Every recorded sale at this building, 2004–2025
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $1,345
- Listing discount
- 1.7%
- Recorded sales
- 54
- On record
- 2004–2025
61 Lexington Avenue sits on the Gramercy / Flatiron border, a corner building also addressed 135 East 25th Street. This is a well-connected pocket of Manhattan — walking distance to Gramercy Park, Madison Square Park, and the Flatiron retail-and-office district — in a boutique postwar building rather than a prewar or a high-rise tower.
Two features define the building. The first is its policy framework, which is liberal for a Manhattan cooperative. Most co-ops treat subletting as a tightly rationed privilege; 61 Lexington permits unlimited subletting from day one, subject to board approval — a genuinely investor-friendly posture. The building also permits pieds-à-terre, pets, co-purchasing, gifting, and guarantors, all with board approval. For a cooperative, this is an accommodating set of rules, and it materially widens the buyer pool to include investors and pied-à-terre buyers who would be shut out of a conventional co-op.
The second defining feature is the building's structure. 61 Lexington is a mixed-structure building: the 40 residential units are organized as a cooperative and sit above roughly 15–16 commercial/professional condominium units on the lower floors, for a total of approximately 55 units. The residential buyer is purchasing standard cooperative shares and a proprietary lease — the residential component is a co-op in the ordinary sense — but that co-op is part of a larger building whose lower floors are owned as commercial condominiums. This structure is the single most important thing for a buyer to understand and to verify against the offering plan.
For buyers, 61 Lexington represents a specific position on the Gramercy/Flatiron border: an accessibly priced boutique postwar cooperative with an unusually flexible rulebook, at a lower service tier — live-in super, no doorman — than a full-service building.
Architecture and unit composition
61 Lexington Avenue was built in 1980 and converted to cooperative ownership in 1988. It is a 7-story red-brick postwar corner building of boutique scale, at the corner addressed both 61 Lexington Avenue and 135 East 25th Street. It is not landmarked — postwar, and outside the Gramercy Park Historic District.
The building's composition is mixed. The residential component is a cooperative of 40 units. Beneath it, on the lower floors, sit roughly 15–16 commercial/professional condominium units, bringing the building to approximately 55 units in total. Some of the upper residential units carry private terraces — a draw at the top of the building. The residential buyer receives standard co-op shares and a proprietary lease; the commercial floors below are a separate condominium ownership regime.
Because the two ownership forms coexist in a single structure, buyers should verify the per-unit ownership form and the relationship between the residential cooperative and the commercial condominium via the offering plan. Ceiling heights, terrace access, and specific layouts should be confirmed at the apartment level.
Building operations
61 Lexington Avenue's residential component operates as a cooperative. The service tier is deliberately modest for a boutique building: a live-in superintendent rather than a doorman, an elevator, a laundry room, and a video intercom. Some upper units carry private terraces. There is no fitness center and no roof amenity.
The cooperative's policy framework is the building's signature, and it is notably liberal. As documented in publicly recorded NYC building data and public records: subletting is unlimited from day one, subject to board approval — an investor-friendly posture rare in the co-op market. Pieds-à-terre, pets, co-purchasing, gifting, and guarantors are all permitted with board approval. This is an accommodating rulebook for a cooperative, and it is the reason the building draws an investor and pied-à-terre buyer pool alongside primary-residence buyers.
The mixed structure — residential cooperative above commercial condominium — means the residential shareholders' operating budget, maintenance base, and any shared building systems intersect with the commercial condominium below. Maintenance and assessment specifics, and the mechanics of the residential/commercial relationship, should be confirmed at the apartment level with the managing agent and against the offering plan; building-level common-cost figures are not published in aggregated form.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $4,721/yr
- Per unit / month range
- $0 – $10
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 →Management & transfer contacts
- Notable fees
- Cond-op. App processing $750; closing fee $350; move-in/out deposits $250 each; co-op sale transfer $0.05/share + $750; credit $125/applicant; sublet/lease app $250
Recent sales
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 |
|---|---|---|---|---|---|
| Aug 25, 2025 | 5F | 1 BR · 1 BA | $600,000 | +0.2% | |
| Dec 2, 2024 | 1A | 1 BA · 425 sf | $580,000 | $1,365/sf | -3.2% |
| Oct 1, 2024 | 2F | 1 BR · 1 BA | $590,000 | +7.3% | |
| Mar 30, 2022 | 1B | 1 BA | $425,000 | -3.2% | |
| Dec 22, 2021 | G | 1 BR · 1 BA | $380,000 | -17.2% | |
| Dec 7, 2021 | 6F | 2 BR · 700 sf | $450,000 | $643/sf | +0.0% |
| Feb 10, 2020 | 1D | 1 BR · 1 BA | $628,000 | -1.7% | |
| Dec 18, 2019 | 4 | 3 BR · 2 BA | $1,450,000 | -9.1% |
Market read. $/sf is measured on the latest sales with reliable square footage (2024): a median $1,345/sf across 1 sale. The building has traded as recently as 2025. Median listing discount 1.7% 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 1-00881-7501) 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 cooperative, and an unusually flexible one. The residential units trade as co-op shares with a proprietary lease. What sets the building apart is the rulebook: unlimited subletting from day one, plus pieds-à-terre, pets, co-purchasing, gifting, and guarantors — all with board approval. For investors and pied-à-terre buyers who would be excluded from a conventional co-op, this flexibility is the central attraction.
Understand and verify the mixed structure. The 40 residential co-op units sit above roughly 15–16 commercial condominium units on the lower floors. The residential buyer is purchasing into the cooperative; the commercial floors are a separate condominium. Verify the per-unit ownership form, the residential/commercial relationship, and any shared-systems arrangements via the offering plan before proceeding.
The service tier is modest. There is a live-in super but no doorman, no gym, and no roof amenity. Buyers who require staffed-lobby service should weigh this; buyers who prioritize flexibility and value will find the lower service tier is what keeps pricing and maintenance accessible.
The entry price is accessible. Studios have asked around $365,000, one-bedrooms around $599,000, and a ground-floor unit around $459,000 — accessible entry points for the Gramercy/Flatiron border, reflecting the boutique scale and the soft 2025–26 market.
Verify the operational baseline at offer stage. Maintenance ranges by line, financing percentages required by the board, flip-tax structure, reserve fund status, and the mechanics of the residential-cooperative/commercial-condominium structure should all be confirmed with the managing agent and the offering plan during due diligence.
What to know if you’re selling
Lead with the flexibility. The unlimited-sublet-from-day-one policy, plus pieds-à-terre, co-purchasing, gifting, and guarantors, is the building's single strongest marketing argument — it opens the buyer pool to investors and pied-à-terre buyers that most co-ops exclude. Foreground it.
Address the mixed structure clearly. Buyers and their attorneys will scrutinize the residential-co-op/commercial-condominium structure. Marketing and disclosure should present the structure plainly and point to the offering plan, so the diligence process is smooth rather than a surprise.
Position the value and the location. Accessible entry-level pricing on the Gramercy/Flatiron border, walking distance to Gramercy Park, Madison Square Park, and Flatiron, is the location argument. The modest service tier (live-in super, no doorman) is the cost structure that supports the accessible pricing — frame it as deliberate.
Closing timelines are cooperative-standard. Board approval is required; pacing typically runs 60 to 90 days from contract through approval to closing. The liberal policy framework widens the buyer pool but does not change the approval pacing.
Comparable buildings
If you're considering 61 Lexington Avenue, also evaluate:
- Nearby Gramercy and Flatiron postwar cooperatives of comparable boutique scale.
- Gramercy / Flatiron condominiums offering condominium financing and subletting flexibility for investor and pied-à-terre buyers.
- Boutique postwar co-ops with liberal sublet policies on the Gramercy/Flatiron border, where flexibility and accessible pricing overlap.
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 61 Lexington 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 61 Lexington 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.