Coda Condominium, 385 First Avenue
Condo located in Gramercy Park, between East 22nd Street & East 23rd Street
Description of Coda Condominium at 385 First Avenue
The Post Luminaria is an attractive, 20-story apartment building at 385 First Avenue on the southwest corner of 23rd Street.
It was erected in 2002 by The Clarett Group of New York and Post Properties of Atlanta.
It was designed by Gerner Kronick + Valcarcel and is also known as 348-354 East 23rd Street.
It has 138 apartments that were originally rentals.
An article in the July 14, 2014 edition of The New York Post by Lois Weiss reported that Ban Shaoul, the head of the Magnum Real Estate Group, had signed a contract to the building and the 199-unit Post Toscana at 389 East 89th Street for $270 million, or just over $800,000 a unit. The seller was Post Properties of Atlanta, which had developed both buildings with the Clarett Group in 2002 and 2003, respectively.
“Both towers were much sought after by the city’s real-estate community, as expiring tax abatements will mark the end of rent stabilization rules. Potential buyers included those that would have kept the buildings as high-end rentals, but others, including Shaoul, had an eye on a condominium conversion that penciled out to under the $2,000-a-foot range,” according to the article.
There is good cross-town bus service and this location is convenient to Waterside and not far from Hospital Alley and Peter Cooper Village and the Flatiron District.
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Building Facts
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Year Built: 2002Converted Year: 2016Building Type: CondoNeighborhood: Gramercy Park (Manhattan)Minimum Down: 20%
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Total Floors: 21Pets: Allowed
Apartment Pricing Stats
Building Amenities
- Attended Lobby
- High-Rise
- Post War
- Resident Storage
- Health Club
- Elevator
- Lounge
- Fitness Center
- Rooftop Terrace
- Bike Room
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