Iconic postwar Riverside Drive co-op with choice Hudson River views
Situated along highly desirable Riverside Drive and perfectly perched on Riverside Park, Schwab House is an expansive co-op complex erected in the postwar economic boom years of the early 1950s. Clad in a distinct red brick, its dramatically tiered massing harkens back to the Beaux Arts-style turrets and elaborate ornamentation of the Gilded Age mansion that once stood in its place. Containing a whopping 636 units, the tentacular building features numerous private and shared roof decks framing choice views in all directions while also delineating what historian Carter Horsley calls “indented” ground level gardens. Verdant greenery also encases an emphatically midcentury modern porte cochère, making for a stately entrance. A concierge service, state-of-the-art gym, lending library and even an in-complex dry cleaner are amenities rarely found in cooperatives, let alone one that’s 74 years old. This sought after white- glove address actually functions like a condo in many respects but incorporates competitively priced residences when compared to others in the historically picturesque and affluent Upper West Side neighborhood. If that weren’t enough, there’s easy access to the Henry Hudson Parkway for the residents that keep cars in the on-site, internally managed garage. For commuters, the 72nd Street subway station—serviced by the local 1 and express 2 and 3 lines—is only a couple of blocks away.
A Robber Baron mansion on the wrong side of Central Park
Completed in 1905, the 50,000-square-foot, 75-room colossus was designed by French émigré architect Maurice Hébert in a style directly imitating features from the iconic chateaux of Chenonceau, Azay-le-Rideau and Blois. Given the fact that most New Yorkers were moving into apartment buildings at the turn of the 20th-century, Schwab’s investment wasn’t as fortuitous as he’d initially hoped. Saddled with this white elephant of a home, he had a tough time selling it off throughout much of the Roaring ‘20s and the subsequent Great Depression. The property was ultimately sold to the city of New York in 1936 and by 1945 was put on the market. The mansion was demolished by developer Julius Perlbinder to make way for Schwab House. Covering just 60% of the expansive estate’s footprint, the massive, Sylvan Bien-designed complex was first established as a rental building but turned into a co-op during the early 1980s.
While an alcove studio with separate kitchen and recently updated windows was on the market for $469,000 in Fall 2024, a true one bedroom replete with a spacious foyer was selling for just under $850,000 at the same time. The asking price for a sizeable combined two bedroom with ample closets was $1.2 million. Three bedrooms range from $1.5 million to $3.8 million depending on size, position and the condition. A handful of four bedrooms average out at $4.5 million. Expansive 5,200-square-foot triplex penthouses, incorporating one of the previously mentioned private rooftops, have sold for upwards of $15 million. Like any older building, the state of renovation varies greatly from unit to unit. Even if the complex was constructed in 1950, it still features the quality finishes normally associated with prewar construction: plaster walls, hardwood floors, crown molding and in some cases, 11-foot-high beamed ceilings. Rare for a co-op, Schwab House’s board allows for co-purchasing and guarantors as well as residences to be used as pieds-a-terre and sublets, upon approval. Along with the previously mentioned amenities, the complex features two up-to-date laundry rooms, full-time door attendants and elevator operators. The multipurpose room is mostly implemented as a children’s play area. All shared outdoor space, which also includes a courtyard, are well maintained and fully furnished.
Competitively priced studios to four bedrooms
While an alcove studio with separate kitchen and recently updated windows was on the market for $469,000 in Fall 2024, a true one bedroom replete with a spacious foyer was selling for just under $850,000 at the same time. The asking price for a sizeable combined two bedroom with ample closets was $1.2 million. Three bedrooms range from $1.5 million to $3.8 million depending on size, position and the condition. A handful of four bedrooms average out at $4.5 million. Expansive 5,200-square-foot triplex penthouses, incorporating one of the previously mentioned private rooftops, have sold for upwards of $15 million. Like any older building, the state of renovation varies greatly from unit to unit. Even if the complex was constructed in 1950, it still features the quality finishes normally associated with prewar construction: plaster walls, hardwood floors, crown molding and in some cases, 11-foot-high beamed ceilings.
Rare for a co-op, Schwab House’s board allows for co-purchasing and guarantors as well as residences to be used as pieds-a-terre and sublets, upon approval. Along with the previously mentioned amenities, the complex features two up-to-date laundry rooms, full-time door attendants and elevator operators. The multipurpose room is mostly implemented as a children’s play area. All shared outdoor space, which also includes a courtyard, are well maintained and fully furnished.
The historic charm and modern convenience of Upper West Side pocket Riverside South
Schwab House is ideally situated next to bucolic Riverside Park, which connects directly into the much larger Hudson River Greenway lining much of Manhattan’s western edge with especially long paths dedicated to cycling and jogging. Because of the complex’s perched location in this setting, all its western exposure units and even some on the north and south sides, have unobstructed views of the Hudson River. The full-service co-op is also near the commercial core that forms around the intersection of 72nd Street and Broadway. There’s a Trader Joe’s and a few other big box stores but mostly smaller owner-operated shops that line either side of 72nd Street as it eventually reaches Central Park and its 843-acres of activity rich green space. Close by, Columbus Avenue features many independent bistros, eateries and bars such as Sushi Masu, Alice’s Tea Cup and Ella Social. A few blocks south, Lincoln Center is a prominent cultural campus home to The Metropolitan Opera, New York Philharmonic and Ballet. The American Museum of Natural History is another major cultural destination in the vicinity of Schwab House.
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Quantarium
Current List Price
Sold Price
Area Factors
Low Crime
Crime Score®
3/ 10
Very Bikeable
Bike Score®
88/ 100
Somewhat Walkable
Walk Score®
68/ 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
South Lawn
1 min walk
Henry Neufeld Playground
3 min walk
Playground
Parking Lot
Verdi Square
5 min walk
Picnic Area
Trails
Matthew P. Sapolin Playground
6 min walk
Basketball
Picnic Area
Trails
Riverside Park
6 min walk
Tecumseh Playground
7 min walk
Basketball
Picnic Area
Soccer
Hippo Playground
9 min walk
Playground
Riverside Park South
10 min walk
Dog Park
Picnic Area
Soccer
West End Park
11 min walk
Trails
Playground
Schools
Source:
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