This Carnegie Hill co-op is located within the Park Avenue Historic District
Situated on the corner of 89th Street and Park Avenue, everything about 1088 Park Ave. centers on prestige. This particular stretch of Park Avenue, already one of Manhattan’s most coveted streets, is part of a historic district, making this 1925 co-op even more desirable. The L-shaped, Renaissance Revival-style building was designed by the late architect Mott B. Schmidt, who studied at Brooklyn’s Pratt Institute before designing high-end homes for Manhattan’s elite like the Vanderbilts, Rockefellers and Morgans (of J.P. Morgan fame). Today, 1088 Park Ave. has a century-long legacy as a premier co-op. Interested buyers should expect an entry point of over $2.4 million for a two-bedroom apartment, the smallest residence available within the 15-story structure. As one would expect with a Park Avenue address, there’s plenty more luxury to be had outside of the building, be it shopping at Madison Avenue’s designer boutiques or perusing art at the world-renowned Guggenheim Museum two blocks west.
Italian-style architecture makes a grand first impression
Arriving home, shareholders pass through a limestone-clad vestibule before entering the impressive, double-height lobby, which features a cathedral-like, vaulted ceiling. Schmidt, inspired by his travels to Europe, was one of the first architects to include a landscaped garden in a Park Avenue residence. Today, the Italian-style courtyard is still the crown jewel of 1088 Park Ave. “People in this building take a lot of pride in the garden,” says Allison Koffman, an agent at Sotheby's International Realty who used to live at 1088 Park Ave. “You literally take a deep breath every time you enter it. I used to walk in and think, ‘I'm so lucky I get to live in this building.’ It's such a serene, calming space — really a respite from the city.” Koffman also recalls how the co-op fostered a sense of community, going all out with Halloween decorations and setting up Easter egg hunts for the building’s children.
Part of this environment stemmed from those working at the co-op, including the doormen, porters and live-in super. “The staff is exceptional, like the best staff in the world,” Koffman says. “When I go back, they literally all give me big hugs when they see me. They’re just the nicest people, and it’s truly white glove service.” In addition to the garden, residents can also utilize two ground-level gyms: one with exercise equipment and one set up as a yoga studio. And in the basement, there are bike and storage rooms.
Prewar features include spacious floor plans and wood-burning fireplaces
Prospective buyers don’t typically tour 1088 Park Ave. expecting to find turn-key apartments or modern finishes. Decades of renovations have rendered each unit unique, but there are some underlying themes that entice buyers. For one, these prewar residences are generously sized and often include bonus spaces (by city standards) like foyers, formal dining rooms and butler’s pantries. Some even have a separate service entrance and a former staff room, which many shareholders have converted into an office, den or utility room. “The apartments were built around the courtyard, so they all have rooms that overlook the garden,” Koffman says. “And you're allowed to go through the walls to add central AC with board approval.” In most cases, apartments include double-hung windows and nine-foot ceilings, and those with original details might have oak herringbone floors and wood-burning fireplaces.
Like many Park Avenue buildings, this co-op has a higher threshold for buyers: only 50 percent financing is allowed for these multi-million dollar apartments. Two-bedrooms typically hover in the $2 million to $3 million range, while three-bedrooms cost between $2.9 million and $4.45 million. Larger residences rarely hit the market, but when they do, prices typically start at $5 million.
Proximity to Central Park, cultural institutions and public transit
Carnegie Hill is one of the city’s most upscale neighborhoods, dotted with prestigious institutions, including the arts at the Guggenheim and Neue Galerie, as well as private education at the esteemed Spence School and Dalton School. “Carnegie Hill is just such a nice, quiet residential area,” Koffman says. “In the morning, it’s so nice to see all the families walking their kids to school. I used to love that.” The neighborhood also has a dining scene along Lexington and Third avenues, plus retail on Madison Avenue. “I think the best thing about living in this area is that you basically have Central Park as your backyard,” Koffman adds. “I mean, you are a block and a half from the entrance to the reservoir. And if you have young kids, there are so many playgrounds and options for you.” Those heading to the Upper West Side can take the crosstown M86 bus, which stops three blocks south of the co-op. Several other buses operate along Lexington Avenue, and the 4, 5 and 6 trains are available within a 5-minute walk of the co-op. If they wish to avoid traffic along Park Avenue, those with a car will need to drive roughly one mile to reach FDR Drive.
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Current List Price
Sold Price
Area Factors
Low Crime
Crime Score®
2/ 10
Very Bikeable
Bike Score®
80/ 100
Walker's Paradise
Walk Score®
100/ 100
Rider's Paradise
Transit Score®
100/ 100
Sources: WhatIsMyCrimeRisk.com, Walk Score
Sources: WhatIsMyCrimeRisk.com, Walk Score
WhatIsMyCrimeRisk.com, Powered by CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks. Walk Score® measures the walkability of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
Sound Score® measures the noise level of any address. Environmental risk data is provided by First Street Foundation® and is designed to approximate risk and not intended to include all possible scenarios.
Parks in this Area
Ancient Playground
7 min walk
Park Avenue Malls
8 min walk
Picnic Area
Ruppert Park
8 min walk
Picnic Area
Trails
Playground
Samuel Seabury Playground
8 min walk
Basketball
Playground
Events
East Meadow
11 min walk
Multi-Purpose Field
Central Park
12 min walk
Great Lawn
14 min walk
Picnic Area
Trails
Events
Marx Brothers Playground
14 min walk
Soccer
Playground
Stanley Isaacs Playground
3 min drive
Basketball
Bike Trails
Fishing
Schools
Source:
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