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for saleRealtyLens property overview
$4,250,000

550 Park Avenue Ave Unit 16C

Manhattan, NY, 10065
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3Beds
2Baths
2,650Sqft
$1604$/sqft

Listing Notes

PARK AVENUE GRANDEUR Grand, sun-flooded 3 bedroom residence with soaring 10+ foot ceilings and panoramic skyline views of Park Avenue and beyond -- reaching all the way to the East River. This elegant home is abound with classic pre-war details featuring: crown, dental and chair rail moldings, beautiful herringbone floors, oversized windows and copious closet space. One enters from the semi-private elevator landing into a stately formal entry gallery where a paneled archway leads to the 27-foot, expansive corner living room, with multiple seating areas and a marble-mantled gas fireplace. The traditional formal dining room is accessed from the living room through pocket doors, making this sublime home perfect for large or intimate entertaining. Off the dining room is a spacious windowed kitchen with glass-front cabinets and granite countertops replete with a sizeable walk-in pantry. On the far side of the gallery is the well-appointed library lined with custom bookcases, built-ins and a charming dry bar. The shared en-suite bath connects to the spacious second bedroom with light-filled Eastern views. A long, private hallway lined with mirrored floor-to-ceiling wardrobes accesses the enormous corner primary bedroom with walk-in closet and a luxurious en-suite bath. There is central air in the public rooms and a basement storage unit is included. Can be combined with neighboring apartment 16AE to create a full floor residence. Built in 1917 by renowned architect J.E.R. Carpenter, 550 Park Avenue is one of the City's premier, full-service co-ops in close proximity to Central Park and the best shops and restaurants. Washer/Dryer and pets allowed. Up to 50% financing is permitted and a 3% flip tax is paid by the purchaser. No Pied a terres.

Market Insights

Below nearby median-16%

$1604/sqft vs a nearby median of $1900/sqft.

Nearby median$1900/sqft
Nearby properties8
Property size2,650 sqft
  • -16% versus the nearby median price per square foot.
  • Price history is limited, so current comps matter more than trend alone.
  • 2,650 sqft creates a usable price-per-square-foot read.

Pricing Read

Yardstick fair value$5.11M$4.61M$5.61M · 42% confidence
vs ask $4.25M−$861k (−20.3%)

Asking price is about 20.3% below the fair value — likely to draw competing offers if it's still on market.

$1,900/sqft median across 5 tight comps × 2,650 sqft= $5.04M
  • Days-on-market gravity−$151k −3.0%
  • Transit access+$126k +2.5%
  • Pre-war character+$126k +2.5%
  • Visible condition issues−$25k −0.5%
Cumulative NYC adjustments+$76k+1.5%

Property Read

FreshnessVerification recommended

The page is useful for research, but the status and price should be verified before acting.

Market Position-16% vs nearby

The asking price per square foot is below the nearby median, which can be worth a closer comp check.

Price MovementInitial price point

Price history is still limited; review again as more market activity becomes available.

Diligence Read3 items to check
AI ReadinessReady to analyze
Assistant read

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Generated from the facts shown on this page and nearby market data. Not a professional appraisal.

Listing Details

Days on market
401 days
Last price change
No change recorded
Listed
Apr 7, 2025
Photos
11 photos
Property type
coop
Status
for sale

Features & Amenities

DoormanElevatorFireplaceTwo Or More StoriesBasementModern KitchenLarge KitchenHigh CeilingLibraryElevatorEnsuiteViewsWalk In PantryWalk In ClosetDenShopping

Photos

Building Facts

Year built
1917
Stories
17
Total units
36
Residential units
35
Building area
3.59 ac
Lot size
11,715 sqft
Land use
Multi-family elevator buildings
Building class
D4

From NYC public records where available.

Price History

May 4, 2026Initial record
$4,250,000for sale

You can also find this listing on StreetEasy.

Listing data sourced from streeteasy.com. RealtyLens enriches and contextualises it for you, but the original listing lives on the source.