Estimated payment $7,000/month
Highlights
- 10,217 Sq Ft lot
- 4-minute walk to 86 Street (4,5,6 Line)
- Laundry Room
- P.S. 6 Lillie D. Blake Rated A
- Elevator
- 2-minute walk to Ancient Playground
About This Home
Pre-Approved Conversion Opportunity. An exceptional opportunity to convert the space to a two-bedroom apartment in one of the Upper East Side’s most desirable locations, situated on the corner of Madison Avenue and 85th Street. Both the Co-op board and the New York City Department of Buildings have approved the conversion, offering a clear and viable path to residential use. The approved residential layout reconfigures the unit into a highly desirable two-bedroom home featuring a spacious living and dining area with an open kitchen, two bedrooms, one bathroom, a washer/dryer, an entry foyer, and ample storage throughout. This ground-floor space features very high ceilings, central air conditioning, direct access to the street, and east, west, and north exposures. Please refer to the floor plan in the listing for the suggested layout. The current owners have recently obtained approvals from the Co-op board and Dept of Buildings Pre-Determination approval. The conversion approval plans were completed by architect Marta Satwin-Ramberg of Satwin Architect, P.C., who can also assist the new owners in obtaining final permits. The pictures were virtually staged to provide visual inspiration for the completed apartment. Whether retained as a professional office or transformed into a stylish residence, this property represents outstanding value in a premier Manhattan neighborhood. Located on a charming, tree-lined street in the heart of Carnegie Hill, the property is just one block from Central Park, and half a block from Equinox Fitness, Butterfield Market, Starbucks, and Le Pain Quotidien Café. You are minutes away from wonderful restaurants, cafés, and designer stores. Neighborhood cultural landmarks, including the Metropolitan Museum of Art and the Guggenheim Museum, are just a few blocks away. Convenient access to the 4, 5, 6, and N, Q, R subway lines ensures seamless connectivity. 38 East 85th Street is a pre-war Co-op built in 1925 by Schwartz & Gross. The building offers full-service amenities with a 24-hour doorman, porters, and a building manager. There is a well-equipped gym, a recreation room, and a bike room. Pets, washer/dryers, and up to 50% financing are allowed. Pieds-à-terre and subletting are not allowed. There is a 2% flip tax. A capital assessment of $358 per month is in effect through December 2026 and $597 per month through December 2027, for elevator modernization. A rare offering with low maintenance, flexibility, location, and upside. Not to be missed. Please contact us to schedule an appointment.
Open House Schedule
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Appointment Only Open HouseMonday, May 18, 202612:00 to 1:00 pm5/18/2026 12:00:00 PM +00:005/18/2026 1:00:00 PM +00:00Add to Calendar
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Appointment Only Open HouseWednesday, May 20, 202612:00 to 1:00 pm5/20/2026 12:00:00 PM +00:005/20/2026 1:00:00 PM +00:00Add to Calendar
Property Details
Home Type
- Co-Op
Year Built
- Built in 1922
Lot Details
- 10,217 Sq Ft Lot
- North Facing Home
HOA Fees
- $1,612 Monthly HOA Fees
Bedrooms and Bathrooms
- 2 Bedrooms
- 1 Full Bathroom
Laundry
- Laundry Room
- Stacked Washer and Dryer
Listing and Financial Details
- Legal Lot and Block 0054 / 01496
Community Details
Overview
- 60 Units
- High-Rise Community
- Upper East Side Subdivision
- 12-Story Property
Amenities
- Laundry Facilities
- Elevator
Map
About This Building
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 04/14/2026 04/14/26 | Price Changed | $850,000 | -10.5% | -- |
| 02/05/2026 02/05/26 | For Sale | $950,000 | -- | -- |
Source: Real Estate Board of New York (REBNY)
MLS Number: RLS20070671
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved.
RLS Data display by Homes.com LLC
- 35 E 85th St Unit 2AN
- 35 E 85th St Unit 2FG
- 35 E 85th St Unit OF3S
- 30 E 85th St Unit 12/13BD
- 30 E 85th St Unit 26/27B
- 40 E 84th St Unit 2C
- 40 E 84th St Unit 7CD
- 61 E 86th St Unit 25
- 61 E 86th St Unit 76
- 64 E 86th St Unit 11A
- 1000 Park Ave Unit 7F
- 1020 Park Ave Unit 21A
- 68 E 86th St Unit 10A
- 1122 Madison Ave Unit 4SOUTH
- 1122 Madison Ave Unit 9NORTH
- 1122 Madison Ave Unit 7NORTH
- 1122 Madison Ave Unit FLOOR15
- 1122 Madison Ave Unit 5NORTH
- 1122 Madison Ave Unit 6SOUTH
- 1122 Madison Ave Unit 10SOUTH
- 30 E 85th St Unit 8B
- 12 E 86th St Unit 828
- 1256 Lexington Ave Unit 3
- 125 E 83rd St Unit SI ID1224959P
- 125 E 83rd St Unit SI ID1224971P
- 125 E 83rd St Unit SI ID1312101P
- 125 E 83rd St Unit SI ID1224970P
- 1240 Lexington Ave Unit 33
- 120 E 83rd St Unit 3-A
- 150 E 85th St Unit 5F
- 22 E 81st St Unit 1
- 115 E 81st St Unit 2C
- 171 E 84th St Unit 25A
- 156 E 83rd St
- 156 E 83rd St
- 156 E 83rd St
- 151 E 80th St Unit SI ID1271255P
- 171 E 84th St Unit 5F
- 160 E 88th St Unit SI FL8-ID1332
- 160 E 88th St Unit SI FL15-ID1330
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