An Upper East Side, prewar co-op where maintenance and service are top priorities
Along Park Avenue, prewar co-ops are plentiful, but discovering which are the most desirable can be tricky. There are two signs that buyers can look out for: low turnover rate and well-maintained common spaces. Situated on the northeast corner of Park Avenue and East 83rd Street, 983 Park Ave. hits both marks. Since 2022, only two units have been listed for sale per year — in some earlier years, there was zero turnover. Marie Schmon, an associate broker at Corcoran who has spent 37 years working in real estate, emphasizes just how pristine the building is. “It has one of the most beautiful lobbies of all the Park Avenue co-ops,” she says. “It’s truly palatial. In some buildings, they cannot maintain all of the prewar details because it’s costly, so they paint over things and take shortcuts when they need to renovate. Here, they have gone to tremendous lengths to beautifully restore everything like the plaster moldings and marble. They took great care in adding elegant furnishings and keeping everything in line with the ambiance of the building.” Schmon adds that even the basement, which houses several amenities, is spick and span, saying that many buildings don’t bother making their basements presentable since visitors don’t frequent them. “Looking at the basement, you can tell how well-maintained this building is. I mean, you can literally eat off their floors.”
Basement-level amenities include storage for every unit and a basketball court
In the basement, every shareholder can access an assigned storage unit that comes with their apartment. There’s also a well-equipped gym and a basketball court. “It’s very unique because most prewar co-ops have a hard time finding the space for a gym, never mind additional things like a basketball court,” Schmon says. “When I show the building, I see young children playing with their parents or coaches, which is great.” Upstairs in the lobby, the white-gloved staff includes a full-time door attendant, porters, a live-in resident manager and elevator operators.
Schmon illustrates the seamless, “top-rate” service available to residents: “The doorman helps with taxis, carrying heavy bags in when people arrive from their country houses, then brings them to the elevator operator who helps get them all the way to their apartment.”
Oversized units have a minimum of two bedrooms
In addition to the meticulous restoration of the lobby, Schmon says the main draw of 983 Park Ave. is the impressive scale of the apartments. “People are in awe of how grand the rooms are. They fall under the category of ‘they just don’t make them like that anymore.’ Most of the apartments have bedrooms that are a minimum of 20 feet long, which is incredible. When you have new construction, those bedrooms can be half the size if you’re lucky.” The apartments also have characteristics typical of prewar apartments, like large foyers and formal dining rooms, detailed moldings and high ceilings.
While keeping the original charm intact, many shareholders have added modern-day conveniences like washer/dryers, central air conditioning and upgraded kitchens. “These apartments are purchased for a lot of money, and owners don’t tend to take shortcuts,” Schmon says. “They tend to do beautiful renovations with talented architects, designers and contractors who get what the building is all about.” In recent years, two-bedroom apartments have cost anywhere from $1.5 million to $1.92 million, while three-bedrooms ranged from $3.6 million to $6.5 million. Prices for larger residences, some of which are unit combinations, typically fall between $5 million and $8.09 million.
Walking distance to Central Park and museums, plus a mix of old and new eateries
Perhaps most notable is the co-op's proximity to Central Park and the Metropolitan Museum of Art, just two blocks west. Additional cultural institutions along Museum Mile are also within walking distance. “You’re also a short walk away from all the services on Lexington Avenue,” Schmon says. At the end of the co-op’s block, residents can find a taste of old New York (plus famed egg creams) at Lexington Candy Shop, a luncheonette and soda counter nearing 100 years of service. Across the street, there’s a grocery store and a Duane Reade, as well as new-age spots like Dear Coffee and Green Mandala juice bar. Schmon also adds that there’s a beautiful church and school across the street. “It’s a nice place to step in, meditate and take a break from the busy day. But even if you’re not religious, it’s great to have that low building across the street because it allows a lot of natural light to reach the co-op units facing Park Avenue.”
Several transit options are available three blocks north
Residents are well-positioned when it comes to transportation. “Within a few blocks, you have 86th Street, a major thoroughfare where you can take the crosstown bus to the Upper West Side,” Schmon says. The 4, 5 and 6 trains are also accessible at 86th Street and Lexington Avenue, while the Q train is slightly farther at Second Avenue.
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Quantarium
Current List Price
Sold Price
Area Factors
Low Crime
Crime Score®
2/ 10
Very Bikeable
Bike Score®
84/ 100
Walker's Paradise
Walk Score®
98/ 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
5 min walk
Central Park
7 min walk
Great Lawn
12 min walk
Picnic Area
Trails
Events
Ruppert Park
12 min walk
Picnic Area
Trails
Playground
Park Avenue Malls
13 min walk
Picnic Area
Samuel Seabury Playground
13 min walk
Basketball
Playground
Events
Abraham and Joseph Spector Playground
15 min walk
Playground
East Meadow
3 min drive
Multi-Purpose Field
Marx Brothers Playground
3 min drive
Soccer
Playground
Schools
Source:
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