620 Park Avenue (The Palacio)
620 Park Avenue, New York, NY 10065
Lenox Hill, Upper East Side
BBL 1013800035 · BIN 1041136
- Year built
- 1924
- Type
- Cooperative
- Units
- 14
- Floors
- 14
- Landmark
- Designated
- Flip tax
- A flip tax applies; confirm the rate at the offer stage.
- Financing
- Up to 50% financeable (50% minimum down).
- Subletting
- Not permitted — an owner-occupancy building.
- Pied-à-terre
- Permitted.
- Washer / dryer
- Not permitted (central laundry).
- Pets
- Permitted, subject to Board approval.
- Co-purchasing
- Not permitted. Parents purchasing for children not permitted.
- Guarantors
- Not permitted.
Compiled by The Roebling Research Desk from the building’s offering plan, amendments, and related building documents (primary source dated 2026). Board policies can change by amendment — confirm at the offer stage.
Every recorded sale at this building, 2004–2026
Bedroom-by-bedroom medians, the full transfer record, and how units trade against ask.
- 4BR+ median
- $10.8M
- Recent range
- $485K – $18M
- Listing discount
- 3.3%
- Recorded transfers
- 16
620 Park Avenue — marketed as The Palacio — is among the most architecturally distinctive small-scale pre-war cooperatives on the Lenox Hill stretch of Park Avenue. The 1924 building was designed by J.E.R. Carpenter and constructed by Starrett Brothers, the firm responsible for the Empire State Building, the Equitable Building, and a substantial share of New York's interwar commercial and residential construction. Carpenter — the architect most associated with the development of the modern large Park Avenue apartment house — produced a structurally distinctive commission at 620 Park: a 14-story building configured at one full-floor apartment per floor, producing the 14-residence intimate scale that defines the building's cooperative culture.
The neo-Renaissance / Italian palazzo architectural register is executed in red brick over a two-story limestone base, with white stone banding and quoins, and a balustrade replacing the building's original cornice. The architectural composition places 620 Park in Carpenter's mid-1920s Park Avenue work — alongside 580, 610 (the Mayfair), 625, 630, 635, 640, 655, 812, 950, and 960 Park, plus consequential Fifth Avenue commissions at 1030, 1120, and 1165 Fifth Avenue. The one-per-floor configuration is structurally rare even within Carpenter's broader body of work.
The building was sold as cooperative from inception — among the earlier dedicated-cooperative-ownership Park Avenue commissions of the 1920s pre-war cycle, predating the conversion-era cooperative wave that would reshape the corridor after WWII.
Architecture and unit composition
The 14 cooperative apartments distribute one per floor across the building's 14 stories. Apartment layouts retain the architectural fabric characteristic of Carpenter's mid-1920s Park Avenue work — substantial ceiling heights, formal entry galleries, multi-exposure layouts with Park Avenue and East 65th Street frontages, and the staff-wing infrastructure characteristic of 1924-vintage luxury Park Avenue construction.
Unit 14 closed in September 2025 at $18,000,000 — a 4-bedroom, three-full / two-half-bathroom configuration occupying the top full-floor position. Unit 7F closed in December 2023 at $10,750,000. Building-level pricing has run in the $5,000–$8,000 per square foot range on the rare apartment-level closings.
Building operations
The Palacio operates as a small-scale cooperative with full-time doorman, live-in superintendent, and a private rooftop terrace available to shareholders. The amenity infrastructure includes a basement fitness facility and private storage. The building does not carry an on-site garage.
The cooperative policy framework — 50 percent maximum financing, 3 percent buyer-paid flip tax, pet-friendly — supports a structurally specific buyer pool calibrated to the trophy Park Avenue cooperative tier. Pied-à-terre allowances and sublet specifics should be verified directly with management given the building's 14-unit institutional cooperative culture.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $21,142/yr
- Per unit / month range
- $0 – $117
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
- Flip tax
- 3% of purchase price due from buyer
- Sublet policy
- Not allowed
- Pied-à-terre
- Allowed
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 |
|---|---|---|---|---|---|
| Sep 15, 2025 | 14 | 4 BR · 4 BA | $18,000,000 | -8.9% | |
| Aug 1, 2025 | 1N | 1 BA | $484,500 | +0.0% | |
| Jan 16, 2025 | 2 | 5 BR · 4 BA · 4,000 sf | $6,400,000 | $1,600/sf | -6.6% |
| Dec 1, 2023 | 7 | 4 BR · 4.5 BA | $10,750,000 | +0.0% | |
| Oct 18, 2018 | 10 | 3 BR · 4.5 BA | $11,675,625 | -2.5% | |
| Mar 9, 2016 | 7 | 4 BR · 4 BA | $10,625,000 | -1.2% | |
| Jan 31, 2014 | 3 | 4 BR | $7,950,000 | +0.6% | |
| Dec 17, 2012 | 10 | 4 BR | $9,167,500 | -3.5% |
Market read. $/sf is measured on the latest sales with reliable square footage (2025): a median $1,600/sf across 1 sale. The building has traded as recently as 2026. Median listing discount 1.8% 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 1-01380-0035) 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
The J.E.R. Carpenter architectural pedigree is real and substantial. Carpenter's defining Park Avenue body of work; 620 Park sits in his mid-1920s apex era.
The one-full-floor-per-floor configuration is structurally distinguishing. Among Carpenter's smallest-scale Park Avenue commissions; the 14-residence intimate scale produces a corresponding institutional cooperative culture.
Inventory turnover is among the slowest on the corridor. The 14-unit scale produces minimal annual transaction volume; recent comparable analysis depends on small samples.
The 3 percent buyer-paid flip tax is structurally meaningful at closing. On an $18 million purchase, $540,000 of additional buyer cost beyond mansion tax and standard closing costs.
Verify operational specifics during due diligence. Sublet duration limits, post-closing liquidity requirements, current capital project pipeline, and the LL11 façade cycle on the 1924 vintage should be reviewed.
Closing timelines are cooperative-standard. Plan for 6–10 weeks from contract through board approval to closing.
What to know if you’re selling
Marketing should emphasize the Carpenter architectural credential and the full-floor configuration. Both are structural identity features.
Pricing benefits from broker familiarity with the building's narrow buyer pool. The 14-unit scale means recent comparable closings carry meaningful weight in the building's reference pricing.
Closing timelines are cooperative-standard.
Comparable buildings
If you're considering 620 Park Avenue, also evaluate:
- 640 Park Avenue — Carpenter 1914; immediate Carpenter Park Avenue peer (also full-floor configuration)
- 610 Park Avenue (The Mayfair) — Carpenter 1925 hotel converted to condominium 1997–98
- 740 Park Avenue — Candela / Cross & Cross 1929–30; trophy pre-war cooperative
- 720 Park Avenue — Candela 1929; Lenox Hill trophy peer
- 665 Park Avenue — pre-war Park Avenue peer
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Park Avenue — read The Roebling Team Guide to Park Avenue.
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 The Palacio?
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 The Palacio 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.