NOT LISTED FOR SALE

Olympic Tower 641 5th Ave Unit 48A New York, NY 10022

Midtown East Neighborhood

Estimated Value: $2,891,000 - $3,520,000

2 Beds
2.5 Baths
1,791 Sq Ft
$2,848/mo HOA Fee

Last Sold March 12, 2021

Last sale price $3,850,000 $2,150 Per Sq Ft

Est. 17% decrease in value since last sale

Current estimated payment $22,982/month

639 Days on Market

About This Home

As of March 2021

Situated on the 48th of 51 floors, this 2 bedroom/2.5 bathroom corner apartment offers floor to ceiling windows with breathtaking unobstructed views North and West of Fifth Avenue, Central Park and the iconic skyscrapers of midtown Manhattan.

The Olympic Tower's prime Fifth Avenue location facing Rockefeller Center epitomizes all that is Manhattan. This full service luxury building is one of the finest condominiums in New York. It was developed to the highest standards by Aristotle Onassis and designed by the world-renowned architectural firm of Skidmore, Owings & Merrill.

A dramatic entry gallery leads you past the windowed eat-in kitchen to the corner dining and living room area with coffered ceilings and magnificent views. Master Bedroom and Guest Bedroom both offer en-suite bathrooms. Other features include motorized window shades, washer & dryer and a pre-wired sound system.

The 24-hour building staff, including concierges and elevator attendants, assures your privacy and security. Valet parking, a private state-of-the-art gym and bicycle storage are available for your convenience. Corporate purchases and Pied-a-Terres are allowed. Pets are not permitted.

Last Agent to Sell the Property

Carl Adams

Brown Harris Stevens Residential Sales LLC License #10401224817 Listed on: 06/11/2019

Brown Harris Stevens Residential Sales LLC

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $40,368

Year Built

  • Built in 1976

Lot Details

  • 0.89

HOA Fees

  • $2,848 Monthly HOA Fees

Home Design

  • 1,791 Sq Ft Home
  • Entry on the 48th floor

Bedrooms and Bathrooms

  • 2 Bedrooms

Laundry

  • Dryer
  • Washer
  • Washer Dryer Allowed

Community Details

  • 225 Units
  • Olympic Tower Condos
  • Middle East Side Subdivision
  • 51-Story Property

Listing and Financial Details

  • Tax Block 1001-

Property Details

Home Type

Condominium

Est. Annual Taxes

$40,368

Year Built

Built in 1976

Lot Details

0

HOA Fees

$2,848 per month

Listing Details

  • Cross Street: EAST 51 STREET, EAST 52 STREET
  • Exposures: North,West
  • Property SubType: Apartment
  • Property Type: Residential
  • Neighborhood: Middle East Side
  • Entry Level: 48
  • ResoPropertyType: Residential
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 51

Interior Features

  • Appliances: Dryer, Washer Dryer Allowed, Washer
  • Living Area: 1791.0
  • Living Area Units: Square Feet

Beds/Baths

  • Full Bathrooms: 2
  • Half Bathrooms: 1
  • Bathrooms Integer: 3
  • Bedrooms: 2

Garage/Parking

  • Garage: No

Utilities

  • Laundry Features: Building Washer Dryer Install Allowed

Condo/Co-op/Association

  • Common Charge/Maintenance Fee: 2848.0
  • Common Charge/Maintenance Fee Frequency: Monthly
  • Common Interest: Condominium
  • ResoAssociationFeeFrequency: Monthly

Building Info

  • New Construction: No
  • Building Name: Olympic Tower
  • Units: 225
  • Total Stories: 51
  • Year Built: 1976

Tax Info

  • Tax Block: 1001-
  • Tax Annual: 40368.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 11, 2019
Closed on
Mar 5, 2021
Sold by
Jck 48A Llc
Bought by
641 5Th Avenue 48A Llc
Seller's Agent
Carl Adams
Brown Harris Stevens Residential Sales LLC
List Price
$4,100,000
Sold Price
$3,850,000
Premium/Discount to List
-$250,000
-6.1%
Current Estimated Value
$3,186,388

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$663,612
Avg. Annual Appreciation
-3.92%
Original Mortgage
$2,550,000
Outstanding Balance
$2,275,483
Interest Rate
2.7%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$910,905

Purchase Details

Closed on
Feb 8, 2017
Sold by
Milhous Paul B
Bought by
Jck 48A Llc

Purchase Details

Closed on
Nov 13, 2003
Sold by
Newhouse Capital Management Corp
Bought by
Milhous Paul B

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$4,580
Interest Rate
5.82%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Apr 30, 1998
Sold by
Cross Gates Enterprises Ltd Inc
Bought by
New House Capital Management Corp

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Interest Rate
6.62%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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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
641 5Th Avenue 48A Llc $3,400,000 --
641 5Th Avenue 48A Llc $3,400,000 --
Jck 48A Llc $4,425,000 --
Jck 48A Llc $4,425,000 --
Milhous Paul B -- --
Milhous Paul B -- --
New House Capital Management Corp $4,900,000 Stewart Title Insurance Co
New House Capital Management Corp $4,900,000 Stewart Title Insurance Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 641 5Th Avenue 48A Llc $2,550,000
Closed 641 5Th Avenue 48A Llc $2,550,000
Previous Owner Milhous Paul B $4,580
Previous Owner New House Capital Management Corp $1,000,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/12/2021 03/12/21 Sold $3,850,000 -6.1% $2,150 / Sq Ft
06/11/2019 06/11/19 For Sale $4,100,000 -- $2,289 / 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 $40,281 $322,419 $60,698 $261,721
2024 $40,281 $322,198 $60,698 $261,500
2023 $40,457 $329,802 $60,698 $269,104
2022 $39,155 $320,024 $60,698 $259,326
2021 $37,241 $303,590 $60,698 $242,892
2020 $40,371 $346,034 $60,698 $285,336
2019 $39,903 $346,062 $60,698 $285,364
2018 $37,821 $315,243 $60,697 $254,546
2017 $35,548 $312,543 $60,698 $251,845
2016 $33,443 $307,089 $60,698 $246,391
2015 $19,949 $301,046 $60,698 $240,348
2014 $19,949 $250,890 $60,698 $190,192
Source: Public Records

Agents Affiliated with this Home

  • Carl Adams

    Seller's Agent in 2021

    Carl Adams

    Brown Harris Stevens Residential Sales LLC

    (646) 344-0009

    1 in this area

    5 Total Sales

    Carl Adams
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About Olympic Tower

Map

Source: Real Estate Board of New York (REBNY)

MLS Number: RLS10594312

Real Estate Board of New York (REBNY)

APN: 1287-1209

New York New York County New York 10022 Midtown East

641 5th Ave Unit 48A, New York, NY

Not Listed for Sale

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