975 First Avenue (350 East 54th Street)
975 First Avenue, New York, NY 10022
BBL 1013467503 · BIN 1071924
- Year built
- 1959
- Type
- Condominium
- Units
- 59
- Floors
- 6
- Landmark
- No
- Pets
- Permitted (specific restrictions may apply)
- Subletting
- Permitted under the condominium declaration; confirm current terms at offer stage
- Pied-à-terre
- Allowed
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 975 First Avenue (350 East 54th Street) 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.
975 First Avenue — also addressed as 350 East 54th Street — is a post-war condominium on the southwest corner of First Avenue and East 54th Street, in the Sutton Place pocket of Midtown East. Built in 1959 and converted to condominium ownership in 1986, the six-story building holds 59 apartments and offers something relatively uncommon on these blocks: true condominium ownership at a mid-market price point.
The corner siting is part of the story. As a corner building it carries dual street addresses and gives many apartments better light and cross exposure than a mid-block equivalent, while sitting a short walk from the East River, the East Midtown Greenway, and the E/M/6 at 53rd Street. Sutton Place's mix of stately townhomes, pre-war co-ops, and a recent influx of younger households frames the neighborhood.
For buyers, the headline is tenure. As a condominium rather than a cooperative, the building offers the flexibility that co-op-dominated Sutton Place rarely provides: straightforward financing, pied-à-terre and investment ownership, LLC and trust purchases, and no board-approval gauntlet — all at pricing well below the trophy end of the market.
Architecture and unit composition
The 59 apartments distribute across six stories in a post-war corner masonry envelope. The street presentation is understated but well-kept — a handsome canopied entrance and surround, with sidewalk landscaping.
The unit mix runs from studios through one- and two-bedroom layouts. Many apartments have been renovated with modern finishes — reworked kitchens, updated baths — while others remain in more original post-war condition; through-wall air conditioning and hardwood floors are common. Corner and higher-floor lines capture the better light and exposure, and renovation quality drives much of the pricing spread within the building.
Building operations
975 First Avenue operates as a services-light condominium: an elevator, a live-in superintendent, laundry in the building, video intercom entry, a trash compactor, and video surveillance. There is no doorman, no garage, and no roof deck — a tradeoff that keeps common charges moderate and is typical for a converted post-war building of this scale.
As a converted post-war building, buyers should review current financial statements, the reserve study, board minutes, and any active or planned capital projects during due diligence, and confirm current common charges and any assessments.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $6,885/yr
- Per unit / month range
- $0 – $10
- Modeled exposure split equally across 59 units (the city tax-lot count). Not an assessed amount; co-op shareholders are typically charged by share allocation.
Source: NYC LL84 benchmarking and PLUTO · The Roebling Research Library. City record last verified September 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →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, with repairs due by the deadline stated in the filing. The scope, timeline, and how the building funds the work are building-specific — we review the filings and board materials for you.
How to read this, and where it comes from
QEWI = Qualified Exterior Wall Inspector — the licensed engineer the city requires to sign the report (the independent expert, not the managing agent).
Penalties shown are amounts DOB assessed against filings on record across 2005–10 to 2025–30. The FISP dataset does not record whether they were paid, contested or remain open, so treat the figure as history rather than a current balance and confirm the building’s standing with the managing agent.
Source: NYC DOB facade filings (FISP) · The Roebling Research Library. City record last verified September 2026.
Recent sales
975 First Avenue prices as a mid-market Sutton Place condominium, read on a price-per-square-foot basis, with the unit-level variables — floor, exposure, whether a line is a corner unit, and renovation condition — driving most of the pricing spread.
As a condominium, comparable analysis is best read at the apartment level, and the small unit count means comparable sales are heterogeneous.
Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
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 |
|---|---|---|---|---|
| Aug 9, 2004 | 2E | 619 sf | $438,000 | $708/sf |
| Jun 30, 2004 | 2E | 619 sf | $380,000 | $614/sf |
Market read. Most recent trades (2004) cleared a median $661/sf (recorded) across 2 sales.
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-01346-7503). 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.
Buying here? Condo closing costs with a mortgage typically run 3 to 6% of the price. See NYC co-op and condo closing costs, line by line.
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What to know if you’re buying
Condo flexibility is the differentiator. In a co-op-dominated neighborhood, this building offers straightforward financing, pied-à-terre and investment ownership, LLC and trust purchases, and no board approval. That flexibility is the core of the value proposition.
Know the amenity tradeoff. This is a services-light building — no doorman, no garage, no roof deck. If those are dealbreakers, weigh them up front. The upside is moderate common charges.
Corner and floor drive light. As a corner building, exposure varies meaningfully by line. Confirm exactly what a given apartment sees.
Condition drives price. Renovation quality is a primary variable within the building. Inspect kitchens, baths, and mechanicals and price against comparable condition.
What to know if you’re selling
Lead with tenure. In Sutton Place, condominium ownership is the standout feature. The financing and use flexibility widens the buyer pool well beyond what a comparable co-op reaches.
Foreground corner light. For corner and higher-floor lines, exposure and light are the headline.
Closing timelines are condo-fast. 30–45 days from contract to closing, without a board package.
Comparable buildings
If you're considering 975 First Avenue, also evaluate other condominiums and cooperatives across the Sutton Place corridor, weighing tenure, service level, and carrying costs against price.
More Sutton Place buildings
- 455 East 51st Street (Beekman Terrace) — 1925 co-op
- 455 East 57th Street — 1927 co-op
- 845 United Nations Plaza (Trump World Tower) — 1999 condominium by Costas Kondylis & Partners
- The Sutton, 959 First Avenue — condominium by Hill West Architects
- 966 First Avenue (Sutton Manor) — 1960 condominium
- 1076 First Avenue — 1928 co-op
The neighborhood
For the full corridor — architecture, transit, and pricing across Sutton Place — read The Roebling Team Guide to Sutton Place.
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.
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