The listing facts are current enough for an initial property review.
for saleRealtyLens property overview
$300,000
111 E 56th St Unit 409
Manhattan, NY, 10022
View more Manhattan, NY property pages1Beds
1Baths
600Sqft
$500$/sqft
Listing Notes
We are pleased to represent a lovely, oversized Junior One Bedroom apartments at The Lombardy Hotel. This hotel apartment has a gracious living area and potentially a large separate sleeping area. This is an investment opportunity with low monthly fees. Live the life of luxury when youre in town and earn premium rental income while youre away. We are the on-site broker at the Lombardy Hotel, one of New York Citys most exclusive addresses. Built in 1926 by William Randolph Hearst, The Lombardy Hotel has been home to legends such as Elizabeth Taylor & Richard Burton, Richard Rodgers & Dorothy Belle Feiner. It offers an unparalleled pre-war elegance and boutique appeal. Over-sized studios, one, two, three & four bedroom suites are available for purchase. Full hotel services include housekeeping service, bell man and concierge services, fitness center, business center, Nicos Beauty Salon. On site Reserve Cut hotel restaurant. The Lombardy Hotel is situated in the heart of the Mid-Town East, close to fine dining, shopping and art galleries and the Theatre District. The owners rental program is the best in New York. Corporate, trusts and foreign purchasers are welcome. EXCELLENT OPPORTUNITY!
Market Insights
Above nearby median+71%
$500/sqft vs a nearby median of $293/sqft.
Nearby median$293/sqft
Nearby properties12
Property size600 sqft
- +71% versus the nearby median price per square foot.
- Price history is limited, so current comps matter more than trend alone.
- 600 sqft creates a usable price-per-square-foot read.
Pricing Read
Yardstick fair value$188k$171k – $205k · 50% confidence
vs ask $300k+$112k (+37.3%)
Asking price is about 37.3% above where comps + adjustments land — there is room to negotiate.
$293/sqft median across 10 tight comps × 600 sqft= $176k
- Transit access+$4k +2.5%
- Pre-war character+$4k +2.5%
- High-density walkability+$4k +2.0%
Cumulative NYC adjustments+$12k+7.0%
Property Read
The property is priced above the nearby median per square foot, so condition, building quality, and exact location need to justify the higher ask.
Price history is still limited; review again as more market activity becomes available.
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Listing Details
- Days on market
- 5 days
- Last price change
- No change recorded
- Listed
- May 7, 2026
- Photos
- 2 photos
- Property type
- coop
- Status
- for sale
Features & Amenities
DoormanElevatorGymSecurity FeaturesPets AllowedRecreation FacilitiesRental PropertyInvestment OpportunityShopping
Building Facts
- Year built
- 1927
- Stories
- 22
- Total units
- 1
- Building area
- 5.62 ac
- Lot size
- 16,066 sqft
- Land use
- Multi-family elevator buildings
- Building class
- H7
From NYC public records where available.
Price History
May 4, 2026Initial record
$300,000for sale