- Year built
- 1941
- Type
- Cooperative
- Units
- 83
- Floors
- 6
- Landmark
- No
- Pets
- Permitted with board approval per listing records
- Subletting
- Permitted after two years of ownership, with sublet fees per listing records — verify current terms with the managing agent
- Pied-à-terre
- Allowed
- Financing
- 80 percent maximum per listing records — confirm with the managing agent at offer stage
- Flip tax
- Not documented in public records — confirm with the managing agent at offer stage
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
- $659
- Listing discount
- 3.6%
- Recorded sales
- 33
- On record
- 2004–2025
686 Second Avenue — marketed almost universally as 303 East 37th Street — is a prewar Art Deco corner co-op that anchors the affordable end of eastern Murray Hill. Six stories, 83 apartments, built in 1941 and converted to cooperative ownership in 1980, it competes on carry and character rather than staff: there is no doorman, but there is an Art Deco lobby, a corner-lot footprint that pushes light into more apartments than a mid-block building would, and a policy framework built around 80 percent financing that keeps the building reachable for buyers priced out of full-service comparables.
The building's economics are the story. Self-service operation — a live-in superintendent rather than a lobby of staff — keeps maintenance below the doorman buildings a few blocks west, and the 80 percent financing ceiling (per listing records) opens the buyer pool wider than the postwar co-op norm. The trade-offs are equally plain: per listing records the building does not permit pieds-à-terre or co-purchasing, positions itself for owner-occupants, and allows subletting only after a two-year seasoning period. This is a primary-residence building for buyers who want a prewar corner apartment at a Murray Hill entry price and are content to trade a staffed lobby for a lower monthly.
One piece of the building's recent history is worth knowing: in 2014 the board explored selling the entire building as a development site, a deal that was floated and never happened. The building remains a co-op, and the episode is a useful reminder that in a low-rise prewar building on a valuable corner, land value is always part of the long-term picture — a diligence point, not a red flag.
Architecture and unit composition
303 East 37th runs six stories of prewar brick on a corner lot, with an Art Deco lobby that is the building's signature interior gesture. The inventory is predominantly studios, one-bedrooms, and compact two-bedrooms, several of them carrying the sunken living rooms that mark the building's 1941 design vocabulary. The corner footprint is the practical advantage — more exposures, more light, and more corner-windowed lines than a comparable mid-block building. Layouts are prewar-practical, with defined foyers and real closet volume; the building runs on through-wall or window air conditioning rather than central systems.
Building operations
This is a self-service co-op with a live-in superintendent rather than a staffed lobby: two elevators, a video intercom at the entrance, central laundry, a bike room, private storage, an interior courtyard, and a renovated lobby. The trade is deliberate — no doorman payroll keeps maintenance below full-service comparables, in exchange for package logistics and a leaner service layer. The offering plan, proprietary lease, and by-laws are on file in The Roebling Research Library and available to clients during diligence.
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 |
|---|---|---|---|---|---|
| Nov 18, 2025 | 2K | 2 BR · 1 BA | $725,000 | +3.7% | |
| Aug 25, 2025 | 3C | 1 BR · 1 BA · 850 sf | $560,000 | $659/sf | -4.3% |
| Oct 1, 2024 | 3J | 1 BR · 1 BA | $550,000 | -2.7% | |
| Jul 24, 2024 | 4J | 1 BR · 1 BA | $540,000 | -9.8% | |
| Oct 30, 2023 | 3FG | 2 BR · 2 BA · 1,350 sf | $860,000 | $637/sf | -3.9% |
| Feb 7, 2023 | 6E | 2 BR · 2 BA · 1,250 sf | $812,500 | $650/sf | -4.4% |
| Aug 10, 2022 | 5F | 1 BR · 1 BA · 800 sf | $550,000 | $688/sf | -9.8% |
| Jul 27, 2022 | 6N | 1 BR · 1 BA · 800 sf | $547,000 | $684/sf | -3.0% |
Market read. Most recent trades (2025) cleared a median $659/sf across 1 sale. Median listing discount 3.6% 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 |
|---|---|---|
| Feb 7, 2020 | 2D | $505,000 |
| Dec 28, 2017 | 2L | $585,363 |
| Jun 2, 2009 | 1G | $694,514 |
| May 5, 2006 | 23 | $725,171 |
| Aug 23, 2005 | 5K | $627,436 |
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 1-00943-0001) 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 primary-residence building. Per listing records, no pied-à-terre and no co-purchasing — the board positions for owner-occupants. If your situation requires either structure, confirm current posture with the managing agent before investing diligence time.
The financing ceiling is a feature. Eighty percent financing per listing records widens the buyer pool and is a real advantage at this price tier. Confirm the current maximum before offering.
Price the no-doorman trade honestly. Lower maintenance is real; so is the absence of staff. If your life runs on deliveries, weigh the logistics before falling for the carry.
Prioritize the corner lines and light. The corner lot is the building's design advantage — corner-exposed apartments carry it. Walk the difference in person.
Run the board math early. The Co-op Board Qualification Calculator is the right first step.
What to know if you’re selling
Lean carry is a closing argument. Self-service maintenance compares favorably against doorman buildings nearby; put the monthly number next to the full-service alternative in every conversation.
Condition drives the spread. In a prewar building where light varies by exposure but views are modest, renovated-versus-original is the pricing axis. Price estate-condition units to the renovation math — the Renovation Cost Calculator frames it for buyers.
Sell the prewar character. The Art Deco lobby, the sunken living rooms, and the corner light are differentiators against the postwar white-brick stock nearby. Name them.
Comparable buildings
If you're considering 686 Second Avenue, also evaluate:
- 222 East 35th Street — The Gregory House, a comparable no-doorman Murray Hill co-op with a flexible policy stack
- 225 East 36th Street — postwar Murray Hill co-op with entry-tier inventory
- 201 East 36th Street — Murray Hill co-op nearby
- 155 East 38th Street — full-service Murray Hill condominium; the staffed, flexible alternative
- 132 East 35th Street — Murray Hill House; the full-service co-op step-up with a roof deck and garage
The Roebling Team at 686 Second Avenue (303 East 37th Street)
The Roebling Team at Compass works Murray Hill and the broader Midtown East corridor as a core practice area. We publish this building profile because 303 East 37th Street buyers and sellers deserve building-specific intelligence — conversion documentation, policy framework, and corridor-level comparables — not generic neighborhood commentary.
If you're considering a transaction at 686 Second Avenue, a 30-minute consultation is the right starting point.
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Midtown East — read The Roebling Team Guide to Midtown East.
Get the full picture on this building.
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