The Prasada (50 Central Park West)

The Prasada's original 1907 plan distributed apartments three per floor — two ten-room layouts facing Central Park West and an eight-room rear apartment. Since the building's history, a number of these have been subdivided into smaller units while others have been combined into expansive multi-floor configurations, producing the building's current ~47-unit count.

Pre-war signatures throughout: high ceilings, formal entry galleries, library-living combinations, kitchens that have been renovated multiple times across the building's 119-year history. The original French Second Empire detailing is preserved to varying degrees apartment-to-apartment.

Park-facing apartments occupy the eastern flank with direct Central Park views from low to high floors. Corner Park-facing units (Park + cross-street exposure) command meaningful view premium.

The Prasada operates as a full-service tier-one CPW co-op with a service signature appropriate to its small unit count: 24-hour doorman, attended elevator service, on-site superintendent, laundry, and private storage. The smaller resident roster produces the relational density characteristic of intimate pre-war co-ops.

The building participates in the NYC Cooperative & Condominium Property Tax Abatement Program for qualifying primary-residence shareholders. Board review is rigorous, with the smaller building scale producing a process that emphasizes both financial qualification and lifestyle fit.

Financing at the Prasada is conservative: maximum financing is 50% of purchase price, in line with the most restrictive CPW co-ops (San Remo, 55 CPW). Buyers should plan for at least 50% cash at close plus substantial post-close liquidity reserves.

Flip tax: 2% of purchase price, paid by the Buyer — an atypical allocation among Manhattan co-ops, where seller-paid flip taxes are more common. Buyers should add this to total acquisition cost modeling.

Subletting is permitted with board approval; the sublet fee equals 10% of yearly sublet rent — meaningful for investor-pattern owners.

Property is managed by AKAM.

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.

Market read. Most recent trades (2026) cleared a median $2,204/sf across 1 sale. Median listing discount 4.0% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.

Sales sourced from NYC Department of Finance recorded transfers (BBL 1-01117-0036) 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.

Board approval is rigorous, with intimate institutional culture. The building's small scale produces a board review process that emphasizes both financial qualification and lifestyle fit. Strong personal references and primary-residence intent are advantageous.

Pied-à-terre approval is uncommon. The board generally prefers primary-residence buyers given the building's intimate scale.

Financing is conservatively capped. At 50% maximum financing, the Prasada requires substantially more cash-at-close than typical NYC co-ops (which often allow 70–80%). This narrows the buyer pool to those with the liquidity to deploy at least half the purchase price in cash, plus reserves for post-close.

Buyer-paid flip tax is unusual. Unlike most NYC co-ops where the seller pays the transfer fee, the Prasada's 2% flip tax is allocated to the Buyer. This effectively adds 2% to total acquisition cost and should be modeled into the buyer's underwriting from the start.

Renovation is constrained by historic district status and the building's age. The 1907 vintage means substantial original detail to preserve; renovation that respects this is the expected path.

View permanence is excellent. Central Park at the eastern flank; West 65th and 66th are residential streets with stable building heights.

Pricing requires apartment-specific judgment. With a small unit count and apartment-to-apartment variation from the original three-per-floor plan, comparable sales analysis benefits from broker familiarity with the building's specific inventory dynamics.

Buyer pool is narrow but committed. The Prasada appeals to buyers who specifically want pre-war Beaux-Arts architecture, smaller building scale, and the financial capacity to absorb both the 50% financing cap and the buyer-paid flip tax. The pool is not large but is typically well-matched and conviction-buying.

Mansion tax effects matter. Apartments routinely transact above the $5M threshold; combined-floor configurations above $10M.

Closing timelines are co-op standard. 4–8 weeks from contract signing to closing.

If you're considering The Prasada, also evaluate:

• The Langham (135 CPW) — pre-war co-op, similar intimate scale (54 units)
• The Brentmore (88 CPW) — pre-war co-op, smallest tier-one CPW (28 units)
• The Dakota (1 W 72nd) — adjacent CPW co-op, oldest tier-one
• 55 Central Park West — pre-war co-op, southern CPW positioning, similar 50% financing cap
• The Apthorp (390 West End at 79th) — pre-war landmark, larger institutional culture