The Sherry-Netherland (781 Fifth Avenue)
781 Fifth Avenue, New York, NY 10022
BBL 1013740001 · BIN 1040751
- Year built
- 1927
- Type
- Cooperative
- Cooperative apartments
- 165
- Landmark status
- Requires confirmation
- City records and our profile differ. Confirm with building management.
- Subletting by shareholders
- Permitted with conditions
- Pied-à-terre
- Permitted with conditions
- Pets
- Pets permitted; species and limits not stated
- Doorman
- Full-time doorman
Every recorded sale at this building, 2003–2026
Bedroom-by-bedroom medians, the full transfer record, and how units trade against ask.
- 2BR median, 2023–2026
- $2.6M
- 5 qualifying sales
- Recent range
- $378K – $9.3M
- Listing discount
- 9.5%
- Recorded transfers
- 175
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at The Sherry-Netherland 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.
The Sherry-Netherland at 781 Fifth Avenue is the earliest of Schultze & Weaver's three Manhattan trophy hotel-residences — preceding the Waldorf-Astoria (1931) and The Pierre (1930) — and was the tallest apartment hotel in New York City at completion in 1927. The 38-story tower at the corner of Fifth and 59th Street was developed by the restaurateur Louis Sherry (whose name still anchors the building) and the hotelier Lucius Boomer, who together capitalized the project as a deliberately upscale entry in the Manhattan apartment-hotel category that was emerging in the late 1920s.
Schultze & Weaver, working in association with Buchman & Kahn, produced an architectural composition that is among the most stylistically eclectic in pre-war Manhattan — a deliberate blend of Art Deco, Renaissance Revival, and Gothic vocabulary that reads as more architecturally exuberant than the firm's later Pierre commission (which is more single-vocabulary French Renaissance / Châteauesque). The building's defining exterior signature is the distinctive Gothic Revival spire that crowns the tower at 560 feet, a silhouette that has anchored the Grand Army Plaza skyline for nearly a century and that competes with The Plaza's mansard crown for the title of most recognizable hotel-architecture detail on the southern edge of Central Park.
The 1954–1955 cooperative conversion is structurally important. The Sherry-Netherland was among the earliest Manhattan hotel-to-cooperative conversions — predating The Pierre's late-1950s conversion by several years and The Carlyle's late-1960s conversion by more than a decade. The conversion produced 165 cooperative residences alongside the continuing 50-room hotel operation, establishing the hybrid template that subsequent Manhattan trophy hotel-cooperatives would follow. Original shareholder pricing — from $5,100 for studios to $50,000 for duplexes — is among the more remarkable mid-20th-century New York real estate datapoints, capturing both the era's pricing context and the foresight of buyers who acquired apartments at what now reads as effectively free pricing.
The architectural distinction of the Sherry-Netherland's interior public spaces is unusual even among trophy buildings. The lobby's ceiling mural — restored in 2014 — draws explicitly from Renaissance fresco traditions and provides a daily-life signature that no other Manhattan apartment building approaches. Harry Cipriani's flagship Manhattan location occupies the building's street level; residents have direct access to the restaurant alongside the building's hotel services.
For buyers, the Sherry-Netherland represents a particular position in the Manhattan trophy market: the earliest of the Schultze & Weaver hotel-residences, the most architecturally eclectic of the trio, the most concentrated cooperative inventory (165 apartments vs. The Pierre's 77 and The Plaza's 181 condominium configuration), and the architectural anchor of the southeast corner of Central Park. The 38-story tower at the corner of 59th and Fifth is, by any measure, among the most photographically and culturally substantial Manhattan addresses.
Architecture and unit composition
The 165 cooperative residences distribute across the building's 38 floors with a structurally distinct configuration:
- Lower floors: Multiple apartments per floor; smaller configurations including studios and 1BRs (some of these were the building's "value-tier" apartments at the 1954 conversion and remain the most accessible inventory)
- Tower floors (above the 24th): Typically one apartment per floor; full-floor configurations with multiple exposures and substantial floor plates
- Upper tower / spire-level apartments: The building's most architecturally distinctive inventory, with unusual ceiling configurations reflecting the Gothic spire geometry and the most concentrated views across Central Park and the southern Manhattan skyline
Apartment configurations span from approximately 600 sf studios to 5,000+ sf full-floor configurations and the occasional larger duplex. The 1927 architectural detail has been preserved to varying degrees across the building's nearly century-long occupancy; renovations have produced apartment-by-apartment variation.
Park views are available from the building's upper-floor north and west-facing apartments — direct sight lines across Central Park to the Park itself, the Plaza Hotel opposite at Grand Army Plaza, and the southern Manhattan skyline. East-facing apartments look toward midtown and the East River corridor.
Building operations
The Sherry-Netherland operates as a cooperative with full-time doorman, 24-hour concierge, valet service, integrated access to the Sherry-Netherland Hotel services, and the building's continuing relationship with Harry Cipriani at the street-level restaurant. The cooperative board operates the residential portion; the hotel operates independently in its 50 rooms / suites.
The integration of hotel services with cooperative residence is structural and historically continuous since the 1954–1955 conversion. Residents can use hotel room service, housekeeping, valet, and concierge services on an a la carte basis. Harry Cipriani's restaurant on the ground floor provides the building's most distinctive resident-accessible amenity.
Specific cooperative policies (financing posture, flip tax structure, sublet rules, pied-à-terre allowance) should be confirmed directly with cooperative management during due diligence. The Sherry-Netherland board has historically been selective and the building's institutional culture has preserved residential character through multiple generations of hotel-side ownership changes.
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
- Permitted with conditionsCase by case, board discretionSource: The Roebling Team's building profile
Considering an apartment here? Send Corey the listing to discuss the sublet and pied-à-terre rules for that apartment.
Own an apartment here? Request an apartment-specific pricing review.
Pets and in-unit washer/dryer
- Pets
- Pets permitted; species and limits not statedSource: The Roebling Team's building profile
- In-unit washer/dryer
- Not verified
Considering an apartment here? Send Corey the listing to confirm the pet and washer/dryer rules for that apartment.
Monthly carrying charges in recent sales
- Maintenance, per room
- $3,900 per room a monthMedian of 12 recorded sales since October 2023Source: recorded sales, refreshed October 2026
- Maintenance, per square foot
- $9.43 per square foot a monthMedian of 8 recorded sales since October 2023Source: recorded sales, refreshed October 2026
Maintenance as recorded with each sale. A co-op's maintenance already covers the building's real estate taxes and the building's own mortgage, if it has one; add your own loan payment for the monthly outlay. A summary of recorded sales, not a current bill; charges change.
Building staffing and amenities
- Doorman
- Full-time doormanSource: The Roebling Team's building profile
- Concierge
- YesSource: recent listing records
- Valet
- YesSource: The Roebling Team's building profile
- Elevator
- YesSource: NYC Department of City Planning records (PLUTO)
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
- $367,890/yr
- 2030–2034 annual penalty
- $654,754/yr
- Per unit / month range
- $181 – $323
- Modeled exposure split equally across 169 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 October 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →Facade safety — Local Law 11
The latest available filing classified the facade as Unsafe — conditions requiring prompt corrective action. The owner must install any public protection the inspector specifies (a sidewalk shed, construction fence or structural netting, depending on the condition) and make the repairs. Review the subsequent filings, the repair status, and the building’s board and financial materials — we pull the repair scope and funding picture for you.
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 October 2026.
Recent sales
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 |
|---|---|---|---|---|---|
| Jun 24, 2026 | 505 | 3 BR · 3.5 BA | $2,750,000 | -8.2% | |
| Jun 24, 2026 | 22042206 | 2 BR · 2 BA · 1,200 sf | $2,350,000 | $1,958/sf | -6.0% |
| May 20, 2026 | 701 | 2 BR · 2.5 BA · 2,050 sf | $2,650,000 | $1,293/sf | -30.3% |
| Mar 9, 2026 | 1516 | 1 BR · 1 BA · 375 sf | $430,000 | $1,147/sf | -4.2% |
| Feb 11, 2026 | 1214 | 2 BR · 2 BA | $950,000 | -9.5% | |
| Nov 12, 2025 | 2001 | 2 BR · 2.5 BA | $2,600,000 | -25.6% | |
| Nov 5, 2025 | 514 | 1 BR · 1 BA · 919 sf | $500,000 | $544/sf | -9.1% |
| Oct 14, 2025 | 1416 | 1 BR · 375 sf | $199,000 | $531/sf | -11.6% |
Market read. Most recent trades (2026 to date) cleared a median $1,293/sf (recorded) across 3 sales. Median listing discount 7.6% 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.
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 1-01374-0001). 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.
Closed rents at The Sherry-Netherland, last 36 months
| Size | Leases | Median / month |
|---|---|---|
| 1 bedroom | 2 | $13,250 |
3 closed sublet leases, October 2023 to September 2026. Most recent lease August 2025. Based on few leases. Sizes with fewer than 2 leases are not shown. Compiled by The Roebling Team at Compass from closed leases.
What would your apartment rent for?
The figures above are the building's closed leases. Enter your apartment and I'll send you what yours would rent for, from comparable leases at The Sherry-Netherland and nearby.
At the recent median sale of $875K (10 transfers in the past 24 months, since November 12, 2024), a buyer putting 25% down would pay about $11,831 to close, or 1.4% of the price.
- Mansion tax: $0
- No mortgage recording tax or title insurance on a co-op purchase
- Attorneys, lender, building fees and filings: $11,831
Assumes a resale (the seller pays transfer taxes), a $4,500 attorney fee and a mortgage on the rest.
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What to know if you’re buying
Understand the hybrid hotel-cooperative program. Buyers acquire a cooperative residence in an actively-functioning luxury hotel. Hotel guest activity in shared circulation is part of the daily-life signature. The Sherry-Netherland's program is on the more institutional end of the hotel-cooperative spectrum given its earlier conversion (mid-1950s, ahead of The Pierre in the late 1950s and The Carlyle in the late 1960s).
Confirm the board's requirements. Confirm the board's current financing, liquidity, ownership, occupancy and subletting requirements, including any terms tied to the hotel-integration program, from the governing documents and application instructions.
Schultze & Weaver architectural pedigree matters. Among Manhattan trophy buildings, the Sherry-Netherland's architectural identity — the Gothic spire, the eclectic Renaissance Revival / Art Deco blend, the restored lobby mural — places it in a distinctive cultural register.
Hotel services are available a la carte. Residents can use Sherry-Netherland Hotel services but pay separately. Harry Cipriani at the street level is accessible to residents in the same manner as any other Cipriani guest.
Distinguish inventory from transaction activity. The stated 165 units exceed the profile counts of 77 cooperative units at The Pierre and 60 at The Carlyle. Unit counts alone do not establish buyer demand or comparable-sale frequency; use dated, apartment-level sales.
Tower-vs.-base apartments are structurally different. Upper-tower (above 24th floor) apartments are typically one per floor with substantial floor plates; lower-floor apartments are smaller and more numerous per floor. Buyers should understand which section they're acquiring.
Confirm specific policies directly with management. Financing posture, flip tax structure, sublet policy specifics, and pied-à-terre allowance should be obtained directly during the contract review process.
Renovation is constrained by historic district status and the building's pre-war character. The board reviews scope and quality with attention to preservation of original Schultze & Weaver / Buchman & Kahn detailing.
View permanence is excellent. Central Park anchors the corridor's view envelope; Grand Army Plaza is protected by multiple landmark designations.
What to know if you’re selling
Marketing should emphasize the architectural and cultural register. Listing copy should reference the Schultze & Weaver design, the Gothic spire, the lobby mural, the Cipriani street-level relationship, and the building's place within the Manhattan trophy hotel-residence canon.
Pricing requires apartment-level context. The 165-unit scale produces meaningful variation; view, exposure, floor altitude, tower-vs.-base configuration, and renovation history all matter substantially.
Describe the conversion history precisely. The profile dates The Sherry-Netherland's conversion to 1954–1955, before those of The Pierre and The Carlyle. Those dates describe the ownership chronology; they do not establish a ranking or uninterrupted continuity of management, services or policies.
Comparable buildings
If you're considering The Sherry-Netherland, also evaluate:
- The Pierre (795 Fifth) — Schultze & Weaver 1930; same architectural firm; comparable mixed-use program
- The Plaza (1 CPS / 768 Fifth) — Hardenbergh 1907; partial condominium conversion 2008
- The Carlyle (35 East 76th) — Sylvan Bien 1930 Art Deco hotel-cooperative
- 740 Park Avenue — pure-residential Gold Coast tier-one; cash-only
- 820 Fifth Avenue — pure-residential tier-one; smaller scale
- 998 Fifth Avenue — McKim Mead & White 1912; the original Fifth Avenue luxury apartment-house tradition
More Fifth Avenue buildings
- 425 Fifth Avenue — 2003 condominium by Robert A.M. Stern Architects
- 445 Fifth Avenue — 1986 condominium by Emery Roth & Sons
- Parc V (785 Fifth Avenue) — 1963 co-op by Emery Roth & Sons
- The Pierre (795 Fifth Avenue) — 1930 co-op by Schultze & Weaver
- 800 Fifth Avenue — condominium by Robert A.M. Stern Architects
- 810 Fifth Avenue — 1926 co-op by J.E.R. Carpenter
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 The Sherry-Netherland?
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646.939.7375 · c.cohen@compass.com