975 First Avenue (350 East 54th Street)
975 First Avenue, New York, NY 10022
Sutton Place
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
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
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 →Recent sales
975 First Avenue prices as a mid-market Sutton Place condominium, read on a price-per-square-foot basis. Recent closed sales have run around the low four figures per square foot, with the unit-level variables — floor, exposure, whether a line is a corner unit, and renovation condition — driving most of the pricing spread. One-bedrooms have traded in the mid-hundreds of thousands to around the high-hundreds depending on size and condition.
As a condominium, comparable analysis is best read at the apartment level, and the small unit count means comparable sales are heterogeneous. Specific recent figures should be confirmed against current recorded transfers at offer stage.
Recent closings 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 |
|---|---|---|---|---|
| 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 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) 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 from recorded condo declarations and offering plans.
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.
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Sutton Place — read The Roebling Team Guide to Sutton Place.
Considering a move at 975 First Avenue (350 East 54th Street)?
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 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.