- Year built
- 1963
- Type
- Cooperative
- Units
- 98
- Floors
- 21
- Landmark
- Designated
- Pets
- Permitted (board approval)
- Flip tax
- 2 percent of gross sale price, buyer-paid
650 Park Avenue is among the most architecturally distinctive mid-century cooperatives on Lenox Hill Park Avenue and one of the corridor's substantial post-war commissions. Completed in 1963 by Kokkins & Lyras — a New York firm that specialized in mid-century luxury East Side residential construction, with additional Manhattan work at 16 Sutton Place — the 21-story building replaced the Sulgrave Hotel, the early-20th-century hotel where the engagement of Patricia Kennedy and Peter Lawford was announced. The building sits at the southwest corner of Park Avenue and East 67th Street, directly across Park Avenue from the Seventh Regiment Armory (the 1880 landmark Charles W. Clinton design that anchors the corridor's military and civic identity).
The white-glazed-brick façade places 650 Park in the broader white-brick mid-century Manhattan residential tradition — the architectural register that defined a substantial share of post-war Park Avenue and Upper East Side luxury construction across the 1955–1975 building cycle. The 98-apartment scale and the building's full-service operational program produce a structurally distinct cooperative identity within the broader Park Avenue corridor.
The cooperative policy framework is calibrated to a more accessible buyer pool than the surrounding pre-war Park Avenue trophy tier. The 50 percent maximum financing, the 2 percent buyer-paid flip tax, the pet-friendly framework, and the case-by-case pied-à-terre allowance produce a structurally more permissive transaction structure than peer trophy pre-war cooperatives — calibrated to a buyer pool that may include pied-à-terre users, family-supported buyers, and primary residents who prioritize the corridor address at materially more accessible pricing than the surrounding pre-war inventory.
Architecture and unit composition
The 98 cooperative apartments distribute across the building's 21 stories in configurations ranging from one-bedroom apartments through three-bedroom configurations. Apartment scale is calibrated to the mid-century building cycle — substantial layouts with the layout discipline characteristic of 1960s Park Avenue construction, including generous ceiling heights for the era, formal entry arrangements, and balcony exposures on select units.
CityRealty data places recent average closings at approximately $1,175 per square foot, with the building's standard one-bedroom inventory in the $1.15 million range and three-bedroom configurations in the $3.75 million range. Late 2025 active inventory has run from approximately $1.15 million through $3.75 million across the building's four-listing float.
Building operations
650 Park operates as a full-service cooperative with 24-hour doorman, concierge, and live-in resident manager. The amenity infrastructure includes a full-service on-site garage with reduced rates for shareholders, a fitness center, a rooftop terrace, and private storage. All utilities are included in maintenance — a meaningful structural feature for True Monthly Carrying Cost analysis, since the maintenance level reflects this pass-through.
CityRealty assigns the building a rating of 75.
What to know if you’re buying
The cooperative policy framework is structurally accessible. 50 percent maximum financing, 2 percent buyer-paid flip tax, pet-friendly, pied-à-terre case-by-case — together produce a more accessible transaction structure than peer pre-war Park Avenue trophy cooperatives.
The utilities-included maintenance structure is meaningful. True Monthly Carrying Cost calculations should reflect that gas, electric, and water are bundled into maintenance.
The on-site garage is a real amenity. Park Avenue parking is structurally constrained; building-owned parking with shareholder reduced rates is meaningful.
The Seventh Regiment Armory directly across Park Avenue is a landmark view feature. Park Avenue-facing apartments look across the avenue to the 1880 Clinton building — a real view amenity protected by the Armory's landmark status.
Verify operational specifics during due diligence. Specific board approval requirements, sublet duration limits, post-closing liquidity requirements, and the current capital project pipeline should be confirmed against current management documents.
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 policy framework and the utilities-included structure. Both produce structural value advantages over peer pre-war cooperative inventory on the corridor.
Pricing should reference recent comparable closings. CityRealty's $1,175 per square foot building average provides a baseline; apartment-line-specific comparables should anchor positioning.
Closing timelines are cooperative-standard.
Comparable buildings
If you're considering 650 Park Avenue, also evaluate:
- 700 Park Avenue — Kahn & Jacobs 1959; immediate post-war Park Avenue peer
- 750 Park Avenue — pre-war Park Avenue peer with full-service operational program
- 800 Park Avenue — pre-war Park Avenue peer
- 45 Park Avenue — Murray Hill condominium peer
- The Carlton Park (1065 Park Avenue) — Lyras 1969–73; the second Kokkins & Lyras Park Avenue cooperative
The Roebling Team at 650 Park
The Roebling Team at Compass specializes in Central Park West, the Upper East Side, and the broader Park-facing Manhattan market. We publish this building profile because Lenox Hill Park Avenue buyers and sellers deserve building-specific intelligence — architectural attribution, policy framework, financial structure, and pricing at the apartment level.
If you're considering a purchase or sale at 650 Park, a 30-minute consultation is the right starting point.