RealtyLens
for saleRealtyLens property overview
$1,800,000

221 E 48th Street Gdn

New York, NY, 10017
View more New York, NY property pages
2Beds
2Baths
1,281Sqft
$1405$/sqft

Listing Notes

Open Houses are by appointment only. Welcome to Terra 48, a boutique collection of six full-floor luxury residences in a stunningly reimagined 1910 brownstone. Thoughtfully designed to blend historic charm with modern sophistication, the garden unit is the final unit to be released. The private backyard is a spacious private oasis with hand-laid pavers and raised garden bed. A two bed, two and a half bath home, it offers a generous layout, with a bonus room on the lower level. This additional space - outfitted with a half bath and A/C, is accessed off of the backyard, perfect for a home gym, office, or storage. Upstairs, the chefs kitchen is a masterpiece of both style and utility, equipped with custom cabinetry, Calacatta Valentin quartz countertops, a Bosch induction range, Fisher & Paykel refrigerator, Bosch dishwasher, and a vented Faber hood. Under-cabinet lighting and a suite of Kohler fixtures complete the space. The primary bathroom is a quiet, private space with an ensuite five-fixture bath featuring Kohler outfittings, a soaking tub, double vanities, custom cabinetry, and floor-to-ceiling Ariston marble tiles. The secondary full bath maintains the same level of elegance with premium finishes and fixtures. Terra 48s storied past is enriched by its former residents, renowned industrial designers Russel and Mary Wright, whose innovative work helped shape modern American living. Inspired by their legacy, these homes highlight the living and dining spaces, and feature 7.5 wide white oak flooring, recessed LED lighting, and a Mitsubishi split HVAC system for year-round comfort. Terra 48 is a rare opportunity to own a piece of history while embracing the best of contemporary living. The complete offering terms are in an offering plan available from Sponsor. File No. CD24-0029. Sponsor: CMCSSG 221E48, LLC., 207 Bowery, 2nd Floor, New York, NY 10002. Equal Housing Opportunity. Disclaimer: Some images feature virtual renderings, and certain photos may depict similar units within the building. For detailed information and to schedule a tour, please contact our Exclusive Agents.

Market Insights

Below nearby median-40%

$1405/sqft vs a nearby median of $2334/sqft.

Nearby median$2334/sqft
Nearby properties8
Property size1,281 sqft
  • -40% versus the nearby median price per square foot.
  • Price history is limited, so current comps matter more than trend alone.
  • 1,281 sqft creates a usable price-per-square-foot read.

Pricing Read

Yardstick fair value$3.20M$2.96M$3.44M · 66% confidence
vs ask $1.80M−$1.40M (−77.7%)

Asking price is about 77.7% below the fair value — likely to draw competing offers if it's still on market.

$2,366/sqft median across 4 tight comps × 1,281 sqft= $3.03M
  • Transit access+$76k +2.5%
  • Pre-war character+$76k +2.5%
  • High-density walkability+$61k +2.0%
  • Open Class C HPD violations−$45k −1.5%
Cumulative NYC adjustments+$167k+5.5%

Property Read

FreshnessCurrent market data

The listing facts are current enough for an initial property review.

Market Position-40% 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 Read2 items to check
AI ReadinessReady to analyze
Assistant read

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
41 days
Last price change
No change recorded
Listed
Apr 1, 2026
Photos
19 photos
Property type
condos
Status
for sale

Features & Amenities

Central AirCity ViewElevatorOutdoor SpaceDishwasherHardwood FloorsNew ConstructionViewTwo Or More StoriesPrivate BackyardOpen HouseEnsuiteChefs KitchenHome OfficeOfficeDenSoaking Tub

Photos

Building Facts

Year built
1910
Stories
5
Total units
6
Residential units
6
Building area
7,800 sqft
Lot size
2,008 sqft
Land use
Multi-family walk-up buildings
Building class
C2

From NYC public records where available.

Price History

May 4, 2026Initial record
$1,800,000for sale

Public Records

DOB violations0 open

14 total recorded against the building

HPD violations16 open

1 class C (immediately hazardous)

ACRIS documents35

Tax-lot deed, mortgage, and transfer records on file

311 calls (12 mo)10,127

Top: homeless person assistance

Top complaint types in ZIP 10017

  • Homeless Person Assistance1,444
  • Vendor Enforcement862
  • Illegal Parking786
  • Noise725
  • HEAT/HOT WATER608

Recent DOB

  • Nov 14, 2025V*-DOB VIOLATION - DISMISSED · LBLVIO-LOW PRESSURE BOILER BOILER REQUIRED
  • Sep 23, 2024V*-DOB VIOLATION - DISMISSED · LBLVIO-LOW PRESSURE BOILER BOILER REQUIRED
  • Jun 30, 2023V*-DOB VIOLATION - DISMISSED · LBLVIO-LOW PRESSURE BOILER BOILER REQUIRED
  • Jun 30, 2023V*-DOB VIOLATION - DISMISSED · LBLVIO-LOW PRESSURE BOILER BOILER REQUIRED

Recent HPD

  • Apr 29, 2026Class A · (A) § HMC:FILE ANNUAL BEDBUG REPORT IN ACCORDANCE WITH HPD RULE AS DESCRIBED ON THE BACK OF THIS NOTICE OF VIOLATION OR AS DESCRIBED ON HPD S WEBSITE, WWW.NYC.GOV\HPD, SEARCH BE...
  • Nov 17, 2025Class I · §27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITE...
  • Jun 4, 2025Class A · (A) § HMC:FILE ANNUAL BEDBUG REPORT IN ACCORDANCE WITH HPD RULE AS DESCRIBED ON THE BACK OF THIS NOTICE OF VIOLATION OR AS DESCRIBED ON HPD S WEBSITE, WWW.NYC.GOV\HPD, SEARCH BE...
  • Nov 22, 2024Class I · §27-2107 ADM CODE OWNER FAILED TO FILE A VALID REGISTRATION STATEMENT WITH THE DEPARTMENT AS REQUIRED BY ADM CODE §27-2097 AND IS THEREFORE SUBJECT TO CIVIL PENALTIES, PROHIBITE...

Sourced from NYC Open Data (DOB, HPD, ACRIS). Updated as the city republishes — check the original source for live status.

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.