998 Fifth Avenue
998 Fifth Avenue, New York, NY 10028
BBL 1014930001 · BIN 1046660
- Year built
- 1910
- Type
- Cooperative
- Units
- 17
- Floors
- 12
- Landmark status
- Individual landmark; in the Metropolitan Museum Historic District
- NYC Landmarks Preservation Commission records, updated February 2026
- Subletting by shareholders
- Permitted with conditions
- Maximum financing
- Financing not allowed; cash purchases only
- Flip tax
- 2% of the purchase price, paid by the seller
- Doorman
- Full-time doorman
- Flip tax
- 2% of the sale price, paid by the seller.
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.
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 998 Fifth Avenue 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.
998 Fifth Avenue is the building that proved wealthy New Yorkers would live in apartments. When McKim, Mead & White completed it in 1912, the conventional wisdom held that families of substantial means belonged in single-family Fifth Avenue townhouses — not in shared buildings, which were associated with middle-class tenements and rental hotels. James T. Lee (Jackie Kennedy's grandfather, who would later develop 740 Park Avenue) wagered against that convention. He commissioned McKim, Mead & White — the most prestigious American architectural firm of the era — to design an apartment house that would feel as substantial as the townhouses it would compete with.
The wager succeeded. Elihu Root — former Secretary of State, Secretary of War, and Nobel Peace Prize laureate — was Lee's first tenant, and his decision to leave his Park Avenue townhouse for an apartment at 998 Fifth was treated as cultural news. The building rapidly filled with Roots and their peers: Murry Guggenheim, Levi Morton, members of the Sloane and Whitney families, and a cohort of New York's institutional aristocracy. Within a decade, the great Fifth Avenue luxury apartment-house tradition was established — and 998 Fifth was its origin point.
McKim, Mead & White's design is restrained Italian Renaissance Revival — a limestone palazzo organized around a rusticated four-story base, a smooth-faced mid-section, and a deeply projecting cornice. The proportions, scale, and detail were deliberately calibrated to read as institutional rather than commercial. The building does not announce itself; it simply belongs.
The original plan called for one apartment per floor — a configuration that produced floor plates of approximately 5,500 square feet, with each apartment commanding a Fifth Avenue/Park exposure of roughly 60 feet of frontage. Some apartments have since been combined (or subdivided to a lesser degree), but the building retains its original one-or-two-apartments-per-floor character and its institutional culture.
Architecture and unit composition
Apartments at 998 Fifth are exceptional in scale. The original one-per-floor configuration produced apartments of approximately 5,000–7,000 square feet, with ceiling heights of 12 feet in primary rooms, formal entry galleries, library-living-room combinations, multiple primary suites, and extensive service infrastructure (servants' wings, separate service entrances, dedicated staff stairwells).
McKim, Mead & White's interior detailing was substantial — paneled libraries, plaster ceiling mouldings, marble mantelpieces, hardwood floors of generous board width. The building's residents have, on the whole, preserved this detail carefully across the century. Modern renovations at 998 Fifth are typically additive (kitchens and bathrooms updated for contemporary use) rather than substitutive (original detail removed).
Park-facing apartments (the western flank) have direct Central Park views across to the Metropolitan Museum's southern flank and the Park beyond. The Met sits opposite, and Central Park itself is the view further west; views vary by floor and position.
Building operations
998 Fifth operates as a full-service pre-war co-op with 24-hour doorman, attended elevator, on-site superintendent, and dedicated private storage, and a small unit count (approximately 17).
The 1953 cooperative conversion was earlier than most CPW or comparable Fifth Avenue conversions, reflecting the early commitment of the building's residents to ownership rather than rental. Specific policy details (flip tax structure, financing cap, sublet fee) are not publicly published by the building; buyers should review the current proprietary lease and house rules during due diligence.
Application and transaction fees
Fees below are from building management's published schedule, as of September 2026. They are shown as published, item by item; no total is added because the total depends on the transaction. Deposits are listed apart from nonrefundable charges.
- Terms
- Equal to 2% of the purchase price
- Rate
- 2% of the purchase price
- Paid by
- Seller
Source: building management's published schedule, as of September 2026
Purchase
5 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Processing FeeRequired | Paid by Buyer | When With the application | Amount $600 | Refundable Non-refundable |
| Messenger Service Fee | Paid by Buyer | When With the application | Amount $65 | Refundable Non-refundable |
| Managing Agent's FeeConditional | Paid by Shareholder | When With the application | Amount $900 (If Seller is an Individual) $1000 (If Seller is an Estate) | Refundable Non-refundable |
| New York State Stamp TaxPer share | Paid by Shareholder | When With the application | Amount $0.05 per share | Refundable Non-refundable |
| Fidelifacts Credit ReportConditional · Per applicant | Paid by Buyer | When With the application | Amount $871.00 per Applicant/Occupant, $1,633.13 if there are two (2) Applicants/Occupants | Refundable Non-refundable |
Ownership transfer
4 items
Fees and charges
| Item | Paid by | When | Amount | Refundable |
|---|---|---|---|---|
| Application Processing Fee | Paid by Buyer | When With the application | Amount $600 | Refundable Non-refundable |
| Background Check FeePer applicant | Paid by Buyer | When With the application | Amount $100 per applicant/occupant | Refundable Non-refundable |
| Credit Report FeePer applicantRequired | Paid by Buyer | When With the application | Amount $75 per applicant/occupant | Refundable Non-refundable |
| Messenger Fee | Paid by Buyer | When With the application | Amount $65 | Refundable Non-refundable |
Management updates its schedule without a public filing. The date is when management last updated the page, not when a rule changed. Confirm the current schedule with management before you apply.
Considering an apartment here? Send Corey the listing to discuss the building's costs and purchase requirements.
Own an apartment here? Request an apartment-specific pricing review.
Financing and purchase requirements
- Maximum financing
- Financing not allowed; cash purchases onlySource: The Roebling Team's building profile
Sublet and pied-à-terre policy
A condominium owner leasing a unit and a co-op shareholder subletting are different rules, and a building-wide rule is different from a restriction on one apartment. This is the building's rule; confirm it for the specific apartment.
- Subletting by shareholders
- Permitted with conditionsRestrictedSource: The Roebling Team's building profile
- Pied-à-terre ownership
- Not verified
Considering an apartment here? Send Corey the listing to discuss the sublet and pied-à-terre rules for that apartment.
Building staffing and amenities
- Doorman
- Full-time doormanSource: The Roebling Team's building profile
- Live-in superintendent
- YesSource: The Roebling Team's building profile
- Elevator
- YesSource: NYC Department of City Planning records (PLUTO)
- Amenities noted
- Fitness room, storageSource: The Roebling Team's building profile
Staffing and amenities as our building profile and recent listing records describe them. A feature not listed is not confirmed absent. Outdoor space, parking and some facilities can belong to particular apartments or to a separate owner; confirm access for the specific apartment.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $52,663/yr
- Per unit / month range
- $0 – $258
- Modeled exposure split equally across 17 units (the residential count on the city's lot record). Not an assessed amount; co-op shareholders are typically charged by share allocation.
Source: NYC LL84 benchmarking and PLUTO · The Roebling Research Library. City data last refreshed September 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →Facade safety — Local Law 11
The latest available FISP filing classified the facade as Safe — no repairs were required at that inspection. A filed Safe grade is not a guarantee of current condition: owners still maintain the facade and, where required, observe parapets each year. Future inspection timing (Local Law 49 of 2025 changed the cycle framework from October 1, 2026), repair and any assessment decisions remain building-specific.
How to read this, and where it comes from
QEWI = Qualified Exterior Wall Inspector — a licensed professional engineer or registered architect who meets DOB’s FISP qualifications and signs the report (the independent expert, not the managing agent).
Penalties shown are amounts DOB assessed against filings on record across 2005–10 to 2020–25. 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 data last refreshed September 2026.
Management & transfer contacts
- Flip tax
- 2% of gross sales price (paid by Seller)
- Policies and fees
- Managing Agent's Fee $900 (individual)/$1000 (estate); Fidelifacts credit report $871/applicant
Recent sales
998 Fifth Avenue's recorded turnover is minimal — a 27-unit 1912 McKim, Mead & White trophy across from the Metropolitan Museum. Review the recorded sales for holding periods and how recent apartments came to market.
The building's W-line, with its Central Park and Metropolitan Museum exposure, is the architectural marquee and the most useful apex-tier comparable set; its recent record includes the September 2025 sale of #6W by William Lauder to a private buyer. Even the apex inventory has negotiated meaningfully against initial pricing across cycles. Co-op transfers of this scale can record across multiple documents, so a single recorded figure is not a reliable read of the price.
Recent transfers 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 | vs. Ask |
|---|---|---|---|---|---|
| Aug 25, 2021 | 11W | 4 BR · 5.5 BA | $22,000,000 | -25.4% | |
| Aug 29, 2017 | 6W | 5 BR · 3,173 sf | $23,500,000 | $7,406/sf | -19.0% |
| Jun 16, 2016 | 3W | 3 BR · 6.5 BA | $21,000,000 | -17.6% | |
| Jun 19, 2014 | 5 | 4 BR | $16,500,000 | -17.5% | |
| Mar 20, 2012 | 5W | 5 BR | $27,222,500 | -19.9% | |
| Jan 3, 2012 | 3 | 5 BR | $16,000,000 | -15.8% | |
| Jan 17, 2007 | 4W | 4 BR | $27,500,000 | +0.0% | |
| Aug 7, 2006 | 5 | 4 BR | $15,750,000 | +0.0% |
Market read. $/sf is measured on the latest sales with reliable square footage (2017): a median $7,406/sf (recorded) across 1 sale. The building has traded as recently as 2025. Median listing discount 16.7% 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.
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-01493-0001). 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 on co-ops is not officially recorded, figures shown are approximate.
What would your apartment rent for?
Enter your apartment and I'll send you what it would rent for, from comparable closed leases at 998 Fifth Avenue and nearby.
Buying here? Co-op closing costs typically run 2 to 3% of the price. See NYC co-op and condo closing costs, line by line.
Keep up with 998 Fifth Avenue and its market
The Roebling Report, monthly: Manhattan sales data and analysis, including buildings like 998 Fifth Avenue. Unsubscribe anytime.
We’ll use your email for The Roebling Report and note your interest in this building. See our privacy policy.
What to know if you’re buying
Financing is not permitted. 998 Fifth is among the Gold Coast co-ops that require 100% cash purchases — no mortgage financing of any kind. This is the building's most consequential structural fact and aligns it with 740 Park, 834 Fifth, and a small number of other tier-one Gold Coast co-ops where the no-financing posture is the screen that defines the building.
Confirm the board's requirements. Financing is not allowed; purchases are cash only. Confirm the building's current liquidity, ownership, occupancy and subletting requirements from its governing documents and application instructions.
Renovation is constrained by historic district status and institutional culture. Substantive renovation is feasible but must respect the building's architectural character. The board does not approve modernizations that erase pre-war detail.
Views depend on the apartment. The Met sits opposite and Central Park lies to the west; views vary by floor, position and exposure, and no view is protected without a recorded instrument.
Confirm the occupancy rules. Confirm the building's occupancy and pied-à-terre requirements from its proprietary lease, house rules and application instructions.
What to know if you’re selling
Marketing is largely private. Most 998 Fifth transactions occur with limited or no public marketing. The buyer pool is small, institutional, and accessible primarily through private broker networks.
Pricing requires building-specific context. Comparable sales are sparse given turnover velocity; apartment-to-apartment heterogeneity is substantial. Pricing benefits from familiarity with the building's small inventory history.
Match the apartment. The work is presenting the specific apartment's layout, floor and condition accurately.
The 2% flip tax is seller-paid. Distinct from 740 Park's buyer-paid 3% flip tax, 998 Fifth's flip tax is borne by the seller at closing. On a $15M apartment, that is $300,000 of seller-side closing cost — and should be modeled into net-proceeds analysis from the outset.
Closing schedule. Include the substantial board package work when planning the transaction.
Comparable buildings
If you're considering 998 Fifth Avenue, also evaluate:
- 740 Park Avenue — Candela 1929–30, the apex of pre-war American luxury
- 820 Fifth Avenue — 1916 Starrett & Van Vleck pre-war, smaller scale, very selective
- 834 Fifth Avenue — Candela 1931, Gold Coast tier-one
- 1040 Fifth Avenue — Candela 1930, Jackie Kennedy's building
- 907 Fifth Avenue — pre-war Fifth Avenue, slightly later vintage
- 1107 Fifth Avenue — Marjorie Merriweather Post anchor building
More Fifth Avenue buildings
- 990 Fifth Avenue — 1927 co-op by Rosario Candela
- 993 Fifth Avenue — 1930 co-op by Emery Roth
- 995 Fifth Avenue (The Stanhope) — 1926 condop by Rosario Candela
- 1001 Fifth Avenue — 1979 co-op by Philip Johnson and John Burgee
- 1009 Fifth Avenue (Benjamin N. Duke House) — 1899 by Welch, Smith & Provot
- 1010 Fifth Avenue — 1925 co-op by Fred F. French Company
The neighborhood
For the full corridor — architecture, transit, and pricing across Fifth Avenue — read The Roebling Team Guide to Fifth 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.
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.
Considering a move at 998 Fifth Avenue?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.
646.939.7375 · c.cohen@compass.com