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Coda Condominium, 385 First Avenue, NYC - Condo Apartments
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385 First Avenue
NEW DEVELOPMENT: OPENED IN 2017

Coda Condominium,
385 First Avenue

Condo located in Gramercy Park, between East 22nd Street & East 23rd Street

$1,523 Avg. price/ft2 Apts. For Sale
$88 Avg. price/ft2 Apts. For Rent
$1,488 Avg. price/ft2 Recent Sales
(past 12 months)
  • Apartments For Sale (4)
  • For Rent (5)
  • Recent Sales (14)
  • All Units in Building (114)
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Overview of Coda Condominium at 385 First Avenue

Coda Condominium is an attractive, 20-story apartment building at 385 First Avenue on the southwest corner of 23rd Street.

It was erected in 2002 by The Clarett Group of New York and Post Properties of Atlanta.

It was designed by Gerner Kronick + Valcarcel and is also known as 348-354 East 23rd Street.

It has 138 apartments that were originally rentals.

An article in the July 14, 2014 edition of The New York Post by Lois Weiss reported that Ban Shaoul, the head of the Magnum Real Estate Group, had signed a contract to the building and the 199-unit Post Toscana at 389 East 89th Street for $270 million, or just over $800,000 a unit.  The seller was Post Properties of Atlanta, which had developed both buildings with the Clarett Group in 2002 and 2003, respectively.

“Both towers were much sought after by the city’s real-estate community, as expiring tax abatements will mark the end of rent stabilization rules. Potential buyers included those that would have kept the buildings as high-end rentals, but others, including Shaoul, had an eye on a condominium conversion that penciled out to under the $2,000-a-foot range,” according to the article.

There is good cross-town bus service and this location is convenient to Waterside and not far from Hospital Alley and Peter Cooper Village and the Flatiron District.

Year Built
2002
Converted: 2016
Apartments
114
Floors
21
Pets: Allowed
Neighborhood
Min Down
20%
Developer
Magnum Real Estate Group
Architect
Gerner Kronick + Valcarcel
Design
D'Apostrophe Design
114Apartments
View All Past
Sales & Rentals
in Building

Amenities

  • Attended Lobby
  • High-Rise
  • Post War
  • Resident Storage
  • Health Club
  • Elevator
  • Lounge
  • Fitness Center
  • Rooftop Terrace
  • Bike Room

Shh... Many units sell without being publicly listed.

Learn more about off-market listings at Coda Condominium!

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Nearby Subways

  1. L
at 1st Ave and 14th 0.43 miles
  1. 6
at Park Ave 0.45 miles

Carter’s Review

"Coda is an attractive, 20-story, 138-unit apartment building at 385 First Avenue on the southwest corner of 23rd Street.

It was erected as a rental building in 2002 by The Clarett Group of New York and Post Properties of Atlanta. "
Read Full Review

Pros & Cons

  • Near Hospital Alley
  • Canopied entrance
  • Roof deck
  • Doorman
  • Near Waterside complex on East River
  • Near Peter Stuyvesant Village
  • No balconies
  • No sidewalk landscaping
  • No garage

CityRealty Rating

20
/44
Architecture
+
22
/36
Location
+
11
/39
Features
+
8
Editor’s Points
=
61
CITYREALTY
RATING
  • How is the CityRealty Rating calculated?

    Architecture
    • 30+ remarkable
    • 20-29 distinguished
    • 11-19 average
    • < 11 below average
    Location
    • 27+ remarkable
    • 18-26 distinguished
    • 9-17 average
    • < 9 below average
    Features
    • 22+ remarkable
    • 16-21 distinguished
    • 9-15 average
    • < 9 below average

Broker & Buyer Comments

This "luxury rental tower" offers "well-appointed" apartments with "massive windows" and "excellent soundproofing." Residents praise the "spectacular" roof deck with "sunset views" and the "peaceful" second-floor patio, while "in-unit washer/dryers" and a "compact but adequate gym" round out the amenities. Though "First Avenue location" draws mixed reviews, the building compensates with "attentive maintenance," "responsive staff" and "impeccable cleanliness." "Pricey" but "well-constructed," it's a "quiet sanctuary" in the bustling city.

Sales History by Apartment Size

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Pricing Comparison of Similar Buildings

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Editorial Coverage

Alternate Addresses

  • 350 East 23rd Street
  • Luminaire
  • Post Luminaria
520 Fifth Avenue
at the northwest corner of West 43rd Street
Midtown West
Iconic river-to-river views include the Empire State Building and Central Park. Elevated condos with magnificent arched windows, triple exposures, and soaring ceilings | Occupancy 2026.
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