The page is useful for research, but the status and price should be verified before acting.
550 Park Avenue Ave Unit 16C
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
$1604/sqft vs a nearby median of $1900/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
Asking price is about 20.3% below the fair value — likely to draw competing offers if it's still on market.
- Days-on-market gravity−$151k −3.0%
- Transit access+$126k +2.5%
- Pre-war character+$126k +2.5%
- Visible condition issues−$25k −0.5%
Property Read
The asking price per square foot is below the nearby median, which can be worth a closer comp check.
Price history is still limited; review again as more market activity becomes available.
Generate a buyer-agent read of this listing — pricing, risks, comp check, and negotiation leverage. Takes a few seconds.
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
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.