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988 Fifth Avenue, #12

$16,750,000 ($4,786 per ft2) | 4 beds, 3 baths | Approx. 3,500 ft2
Building Profile  | 
183 days on Market

Key Details

  • Listed: May 22, 2024
    Days on Market: 183
    Building Type: Condominium
    Neighborhood: Carnegie Hill (Manhattan)
    Doorman: FT Doorman
    Listing viewed 271 times
Monthly Common Charges: $7,380
Monthly Real Estate Taxes: $5,118
Total Taxes & Fees: $12,498 ($3.57/ft2)
Est. Monthly Mortgage: $88,881
Total Est. Monthly Carrying Cost: $101,379 ($28.97/ft2)
Note: the above is based on a down payment of 20% ($3,350,000), which is the minimum amount permitted by the building.

Insider Highlights

  • Breathtaking Views: Enjoy sweeping vistas of Central Park and the iconic Manhattan skyline from this lofty residence.
  • Spacious Living: This expansive 3,500+ square foot home features voluminous rooms with soaring 12+ foot ceilings.
  • Elegant Entertaining Spaces: The apartment boasts a grand living room and library, perfect for sophisticated gatherings and entertaining.
  • Historic Charm: Housed in a landmark building designed by renowned architect J.E.R. Carpenter, this residence offers a unique historical provenance.
  • Exclusive Condominium: With only thirteen apartments, residents enjoy unparalleled privacy, service, and security in a prestigious setting.
  • Full-Time Doorman: Experience the convenience and security of a full-time doorman, enhancing the luxury living experience.

Description

In the heart of Manhattan’s Upper Eastside on arguably the most coveted block, this lofty home is simply iconic. For those desiring Central Park and Manhattan skyline views, beautiful natural light and voluminous rooms - this 3500+ square foot home is unequalled. With a bird’s eye view of Central Park, The Metropolitan Museum of Art, the George Washington Bridge and other notable buildings - the picturesque views are unsurpassed.

Complementing the views the apartment features soaring 12+ foot ceiling creating volume and space while oak flooring and wood burning fireplaces provide warmth and texture. From a private elevator landing, enter the apartment via a foyer, off which an enormous living room and library offer sweeping Central Park and iconic New York City skyline views. Along an impressive gallery leads to three bedrooms with ensuite baths.

The dining room and spacious kitchen provide for elegant entertaining. The apartment is in need of some TLC so bring your architect and contractor.

The condominium entrance is discretely located on quiet East 80th Street, one of the most beautiful mansion-lined blocks on the Upper East Side Historic District. There is a full-time door person, live-in Resident Manager, and the apartment includes a basement storage cage.

Pets are welcome. With only thirteen apartments, residents enjoy the highest level of service, privacy and security.

Historical Provenance - 988 Fifth Avenue is built on the previous site of Hugh A. Murray (988) and Nicholas F. Brady (989) townhomes. The townhomes were demolished and the building, 988 Fifth Avenue, was designed in 1925 by James E.R. Carpenter and built by Dwight P. Robinson & Company. James E.R. Carpenter is named by the New York Times as "The Architect Who Shaped Upper Fifth Avenue" and "the father of the modern large apartment in New York City".

The building is 13-story tall and comprise of one apartment per floor. The 12th and 13th floor PENTHOUSE was built for Ms. Syliva Green Wilks, the daughter to Hetty Green, "the richest woman in America" at that time.

Hetty is noted to have save J.P. Morgan’s bank during the Panic of 1907, writing out a check for $1.1 million (50 times that in today’s marketplace). And more than once the City of New York called on Hetty to keep the city solvent.

Syliva resided in the PENTHOUSE at 988 Fifth Avenue - the 12th floor consisted of all the entertaining space - drawing room, dining room, hall, library, kitchen, servant’s hall and a maid’s room; while the 13th floor were the chambers, consisting of 3 bedrooms, dressing room, sitting room and four maid’s room.

Syliva exchanged the penthouse unit for the 3rd and 4th floor in the building where she resided on the 3rd floor and used the 4th floor as storage. Syliva passed in 1951, leaving an estate worth $90 million (approximately $990 million in 2021) which was distributed amongst 63 charities including colleges, libraries, hospitals and churches. Records indicate that the duplex Penthouse at 988 Fifth Avenue was split in two floors in 1949.

Also of note, the American actress, Grace Kelly resided in the building in the 1950’s just before she left for Monaco to marry Prince Rainier of Monaco.

To conclude, the building was converted to a condominium in 1979 and there has only been two deeded owner of the unit.

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Listing courtesy of Douglas Elliman Real Estate

Pricing History

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About 988 Fifth Avenue

89

988 Fifth Avenue has received a CityRealty Rating of 89, based on:

 
Architecture

Anything above 30 is remarkable, from 20-29 is distinguished and from 11-19 is average, while below 11 is below average.

 
Location

Anything above 27 is remarkable, from 18-26 is distinguished and from 9-17 is average, while below 9 is below average.

 
Features

Anything above 22 is remarkable, from 16-21 is distinguished and from 9-15 is average, while below 9 is below average.

Rating Summary

26
Out of 44
+
31
Out of 36
+
22
Out of 39
+
10
=
89
Out of 119
 

Architecture Rating: Points Breakdown

Exterior:
Very Distinguished 7 out of 8 points
Retail Quality:
None 2 out of 5 points
Canopy Entrance:
Attractive 2 out of 3 points
Alterations:
None 2 out of 2 points
Plaza Or Atrium:
None 0 out of 3 points
Contextual Design:
Yes and Good 2 out of 3 points
Skyline:
Highly Visible 2 out of 2 points
Local Visibility:
Highly Visible 2 out of 2 points
Watertank:
Exposed 0 out of 2 points
Airconditioners:
Not Allowed 2 out of 2 points
Free Standing:
Corner 1 out of 2 points
Gargoyles:
None 0 out of 2 points
Garden:
Attractive 2 out of 2 points
Fenestration:
No Consistency 0 out of 1 points
Landmark:
Part of Historic District 1 out of 2 points
Unity:
Unified Design 1 out of 1 points
Illumination:
None 0 out of 1 points
Water Element:
None 0 out of 1 points

Location Rating: Points Breakdown

Street Ambience:
Outstanding 5 out of 5 points
Distance To Neighborhood Center:
Less than 10 blocks 5 out of 5 points
Views:
Dazzling 4 out of 4 points
Neighborhood Ambience:
Very Attractive 3 out of 3 points
Traffic Noise:
Some 2 out of 3 points
Protected Views:
Many 2 out of 2 points
Distance To Subway:
More than 5 Short Blocks 0 out of 2 points
Firedepartment Noise:
No Noise 2 out of 2 points
Distance To Supermarket:
Less than 3 Short Blocks 2 out of 2 points
Distance To Park:
Less Than 3 Short Blocks 2 out of 2 points
Distance To Water:
More than 6 Short Blocks 0 out of 2 points
Shopping:
5 or less Short Blocks 2 out of 2 points
Schools:
No Noise 1 out of 1 points
Noise From Nightlife:
None 1 out of 1 points

Features Rating: Points Breakdown

Lobby:
Stunning 5 out of 5 points
Units Per Floor:
1 5 out of 5 points
Ceiling:
9-11 Feet 2 out of 4 points
Balconies:
None 0 out of 3 points
Health Club:
None 0 out of 2 points
Private Gardens:
None 0 out of 2 points
Storage Rooms:
Considerable 2 out of 2 points
Bay Windows:
None 0 out of 1 points
Fireplaces:
Some 1 out of 1 points
Door Person:
Yes 1 out of 1 points
Concierge:
Yes 1 out of 1 points
Elevator Person:
None 0 out of 1 points
Recreational Roof:
None 0 out of 1 points
Driveway:
None 0 out of 1 points
Maids Room:
Some 1 out of 1 points
Catering:
None 0 out of 1 points
Garage:
None 0 out of 1 points
Mixed Use:
No 0 out of 1 points
Non Rectilinear Form:
No 0 out of 1 points
Unusual Layouts:
Some 1 out of 1 points
Prewar:
Yes 1 out of 1 points
Other Amenities:
Many 2 out of 2 points

Building Amenities

  • Conversion Year: 1981
  • Attended Lobby
  • FT Doorman
  • High-Rise
  • Pre War
  • Resident Storage
  • Garden
  • Elevator
  • Landmarked
  • Live-In Superintendent
  • Pet Services
  • Historic District

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Pros
  • Very few apartments
  • fireplaces
  • Attractive canopied entrance and sidewalk landscaping
  • Two blocks south of entrance to the Metropolitan Museum of Art
  • One block from cross-town bus service
  • Doorman
  • Prime- quiet location on Fifth Avenue
  • Superb Italian-Renaissance-palazzo-style detailing
  • Spectacular views of Central Park
Cons
  • No health club
  • Parades
  • No garage
  • No sundeck
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Subways

  1. 6
at Lexington Ave 0.31 miles
  1. 4
  2. 5
at Lexington Ave 0.42 miles

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