Mid-century style and affordable rates in an eastside enclave
Finding a home in New York City, even just a reasonable one, can be unreasonably difficult. Which is what makes New York Towers such a catch. It’s not overpriced — many units cost less than $1,000 per square foot, significantly below Manhattan’s $1,611 average for the first half of 2024, according to Miller Samuel Real Estate Appraisers. It’s near buzzy areas — Union Square and Empire State Building are both a mile away — but also close to the quieter East River walkway. And unlike more restrictive co-ops, this one lets parents purchase units for adult children and use them as pieds-a-terre. Views of the river are harder to come by than at CODA, a nearby luxury condo that opened in 2016. But at New York Towers, private balconies are more common, and shops on the ground floor, plus discounted on-site parking, add the kind of everyday convenience that can feel like a blessing in Manhattan.
Compact living with outdoor spaces
Efficiency is central to the building’s layout, with each floor divided mostly into one bedrooms and studios. At the smaller end, studios that range from 500 to 800 square feet save space by using galley kitchens. Although some have room for a sleeping alcove or walk-in closet, more add a partition in the living room to create a junior bedroom. At 550 square feet, the smallest one bedrooms often consolidate features by incorporating en suite bathrooms. Bigger ones, which go up to 925 square feet, can be more open with a breakfast bar or pass-through kitchen counter, and some have a private balcony. Floor plans for two bedrooms can vary widely, ranging from 850-square-foot units to 1,600-square-foot duplexes or penthouses with wraparound terraces. The few three bedrooms, sized around 1,400 square feet, have open-concept kitchens, and beyond that, combination four-bedroom units can be up to 2,400 square feet and include spacious features like laundry rooms, home offices and separate living and dining rooms.
Refreshed interiors — one room at a time
While no two units have the same finishes, almost all of them have had their kitchens and bathrooms updated to look more or less contemporary. Dishwashers, granite countertops and natural tile floors are common in the kitchens, and some have luxury upgrades like wine fridges. Bathrooms also frequently have modern motifs like subway tiles and walk-in showers, although a number retain older-looking tile work, sliding shower doors and sinks with exposed plumbing. Certain outdated features are welcome, though, like classic parquet tile floors and custom-built closets that line the walls of some entryways or living rooms. In-unit washer dryers are allowed but not common.
Appropriately valued and open to sublets (for a price)
For co-ops in Kips Bay, New York Towers is in the middle to high end of the price range. From 2021 through the first half of 2024, studios here have sold for between $420,000 and $715,000, and one bedrooms have sold for between $500,000 and $875,000. Two bedrooms have a broader range from $700,000 to $1.7 million because they include some units that have been extensively renovated or have large terraces. The few three bedrooms have sold for around $1.7 million, while the only 2,400-square-foot four bedroom sold for $2.7 million. Per the co-op board’s rules, shareholders can sublet their unit for up to two years over any four-year period, but only after living in the building for a year. They’re also charged a monthly fee equal to 25% of the monthly maintenance for the first year of any sublet, and that fee increases to 35% for the second year.
Everyday essentials within arm’s reach
New York Towers’ amenity package covers all the basics, such as a common laundry room, a bike room, private storage spaces and 24-hour attendant service in the lobby. One bonus is the underground parking garage, which, despite being publicly accessible, offers a discounted monthly rate to shareholders. There’s also a string of local businesses on the ground floor, so residents don’t have to go far for a deli, dry cleaners or liquor store.
Residential calm between the river and Madison Square Park
Above Union Square, eastside neighborhoods such as Kips Bay have a slightly slower, residential pace. That’s embodied by the cul-de-sac just past the building’s entrance, which is across from one of the area’s three large hospital centers. Restaurant and bar options broaden on Third Avenue, and one block over is a popular strip of Indian eateries. Half a mile west, Madison Square Park has a dog run, lawns where summertime events take place, and the original Shake Shack. Although green space is scarce here, the nearby East River walkway is a nice, scenic alternative.
Near FDR with limited subway access
The 6 train, half a mile west, provides local service along the east side. Closer transit options include buses on Second and Third avenues, and a CitiBike station on the north side of the building. Car owners have quick access to FDR Drive for trips throughout the city or upstate, and a little farther down, the ferry at Stuyvesant Cove reaches Wall Street in about 10 minutes.
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Quantarium
Current List Price
Sold Price
Area Factors
Low Crime
Crime Score®
3/ 10
Biker's Paradise
Bike Score®
92/ 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
Augustus St. Gaudens Playground
4 min walk
Basketball
Playground
Peter's Field
4 min walk
Basketball
Multi-Purpose Field
Bellevue South Park
4 min walk
Basketball
Dog Park
Volleyball
Vincent F Albano Jr Playground
5 min walk
Playground
Stuyvesant Square
7 min walk
Dog Park
Trails
Events
Asser Levy Playground
7 min walk
Madison Square Park
10 min walk
Dog Park
Picnic Area
Playground
Stuyvesant Cove Park
12 min walk
Murphy's Brother's Playground
14 min walk
Baseball/Softball
Basketball
Lake
Schools
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