NOT LISTED FOR SALE

Estimated Value: $3,956,000 - $7,773,000

2 Beds
3 Baths
2,655 Sq Ft
$3,927/mo HOA Fee

Last Sold May 13, 2014

Current estimated payment $37,515/month

44 Days on Market

About This Home

As of May 2014

500 Park Avenue, located at 59th Street, has long been regarded as one of the city?s finest residences thanks to brilliant design, amenities and location. This apartment is located on the 35th Floor and offers magnificent views in all four directions, including a spectacular vista of Central Park. With only one other apartment sharing the elevator vestibule, it has a truly grand entrance gallery and an expansive living room over 30 feet in width, plus a wall of glass overlooking the city. Add to that a well-proportioned eat-in kitchen, library with a wood burning fireplace, a rare feature in a modern condominium, master bedroom with large dressing room and bath, guest bedroom with bath, plus enormous walk-in closets and a powder room. The building has a discreet entry off Park Avenue, full time doormen, concierge, hall porters and a resident manager, plus a roof top terrace. Like a fine wine, 500 Park Avenue only gets better and remains one of Manhattan?s most exclusive residences.Located on the 35th floor, of a white-glove condominium, this outstanding residence offers a gracious layout and spectacular cityscape and Park views. Spanning 2,660 square feet, the apartment is in move-in condition and shares an elevator landing with just one other apartment, allowing for optimum privacy. A grand 28-foot gallery leads to a set of double-doors which open onto a dramatic 33-foot entertaining expanse with pristine herringbone flooring. Resplendent with light from three exposures, this grand entertaining space showcases sweeping cityscape and Park views through walls of windows. A powder room and three closets may also be found off the gallery. The South-facing eat-in-kitchen has custom-cabinetry and has been outfitted with appliances from Sub-Zero, Bosch, and Wolf, and has a sunny breakfast room. Occupying the SouthWest corner of the apartment, the master suite enjoys enchanting Park and city views, and has a generous dressing room and a luxuriously-appointed marble bath with a large soaking tub and separate shower. There is a second bedroom with an en-suite bath and ample closets. A third bedroom/library of equally grand scale may be found along the Western wing.

Designed by James Steward Polshek in 1984, 500 Park Avenue has been recognized with a national award in architecture from the American Institute of Architects. One of Manhattan's premier luxury condominiums, the building offers a host of amenities, including full-time doormen, security, concierge service, storage facilities as well as a rooftop garden terrace..

Last Agent to Sell the Property

Roger Erickson

Douglas Elliman Real Estate License #10301200449 Listed on: 02/28/2014

Douglas Elliman Real Estate

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $43,992

Year Built

  • Built in 1984

HOA Fees

  • $3,927 Monthly HOA Fees

Home Design

  • 2,655 Sq Ft Home

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 3 Bathrooms

Community Details

  • 50 Units
  • 500 Park Tower Condos
  • Upper East Side Subdivision

Property Details

Home Type

Condominium

Est. Annual Taxes

$43,992

Year Built

Built in 1984

Lot Details

0

HOA Fees

$3,927 per month

Listing Details

  • Exposures: East,North,South,West
  • Property SubType: Apartment
  • Property Type: Residential
  • Neighborhood: Upper East Side
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Living Area: 2655.0
  • Living Area Units: Square Feet

Beds/Baths

  • Bathrooms Integer: 3
  • Bedrooms: 2

Condo/Co-op/Association

  • Common Charge/Maintenance Fee: 3927.0
  • Common Charge/Maintenance Fee Frequency: Monthly
  • Common Interest: Condominium

Building Info

  • New Construction: No
  • Building Name: 500 PARK TOWER
  • Units: 50
  • Year Built: 1984

Tax Info

  • Tax Block: NA
  • Tax Annual: 43992.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 28, 2014
Closed on
May 13, 2014
Sold by
Lee Vandervelde Trust
Bought by
Benhaim Jody
Seller's Agent
Roger Erickson
Douglas Elliman Real Estate
List Price
$8,450,000
Current Estimated Value
$5,474,333

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$5,740,000
Outstanding Balance
$4,361,830
Interest Rate
4.33%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$1,112,503

Purchase Details

Closed on
Feb 21, 2008
Sold by
Pamela Lee Vandervelde As Trustee
Bought by
Lee Vandervelde As Trustee

Purchase Details

Closed on
Feb 27, 1998
Sold by
Vandervelde Pamela Lee
Bought by
Persona Vandervelde Pamela Lee and Pamela Lee Vandervelde Personal Trust
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Benhaim Jody $8,200,000 --
Benhaim Jody $8,200,000 --
Lee Vandervelde As Trustee -- --
Lee Vandervelde As Trustee -- --
Persona Vandervelde Pamela Lee -- Chicago Title Insurance Co
Vandervelde Pamela Lee -- Chicago Title Insurance Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Benhaim Jody $5,740,000
Closed Benhaim Jody $5,740,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/13/2014 05/13/14 Sold -- -- --
04/13/2014 04/13/14 Pending -- -- --
02/28/2014 02/28/14 For Sale $8,450,000 -- $3,183 / Sq Ft
Source: Real Estate Board of New York (REBNY)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $57,168 $471,179 $152,660 $318,519
2024 $57,168 $457,270 $152,660 $304,610
2023 $56,207 $458,200 $152,660 $305,540
2022 $46,103 $457,436 $152,660 $304,776
2021 $51,602 $420,653 $152,660 $267,993
2020 $46,527 $471,267 $152,660 $318,607
2019 $45,079 $475,833 $152,660 $323,173
2016 $47,021 $407,042 $152,660 $254,382
2015 $18,647 $376,756 $152,660 $224,096
2014 $18,647 $354,325 $152,660 $201,665
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Real Estate Board of New York (REBNY)

MLS Number: RLS10411233

Real Estate Board of New York (REBNY)

APN: 1294-1052