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A blog from CityRealty (Links below will take you to the 6sqft site)

Coda Condominium, 385 First Avenue

Between East 22nd Street & East 23rd Street

Key Details

  • Year Built 2002
    Converted Year 2016
    Building Type Condominium
    Neighborhood Gramercy Park
  • Total Apartments 114
    Total Floors 21
    Pets Allowed
Avg. Price / ft2
Avg. Price / ft2

Description

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 Amenities

  • Attended Lobby
  • High-Rise
  • Post War
  • Resident Storage
  • Health Club
  • Elevator
  • Lounge
  • Fitness Center
  • Rooftop Terrace
  • Bike Room

Apartments for Sale at 385 First Avenue (2)

2
Available Apts
$1.3M - $1.6M
Price Range
$1,517
Avg. Price / ft2
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Rating

20
Out of 44

Architecture Rating: 20 / 44

+
22
Out of 36

Location Rating: 22 / 36

+
11
Out of 39

Features Rating: 11 / 39

+
8
=
61

CityRealty Rating Reference

 
Architecture
  • 30+ remarkable
  • 20-29 distinguished
  • 11-19 average
  • < 11 below average
 
Location
  • 27+ remarkable
  • 18-26 distinguished
  • 9-17 average
  • < 9 below average
 
Features
  • 22+ remarkable
  • 16-21 distinguished
  • 9-15 average
  • < 9 below average
  • #33 Rated condo - Gramercy Park
 

Carter Horsley's Review

Carter Horsley's Building Review
"Coda is an attractive, 20-story, 138-unit apartment building at 385 First Avenue on the southwest corner of 23rd Street.

It was erected as a rental building in 2002 by The Clarett Group of New York and Post Properties of Atlanta. " Read Carter's Full Review
Pros
  • Near Hospital Alley
  • Canopied entrance
  • Roof deck
  • Doorman
  • Near Waterside complex on East River
  • Near Peter Stuyvesant Village
Cons
  • No balconies
  • No sidewalk landscaping
  • No garage
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Subways

  1. L
at 1st Ave and 14th 0.43 miles
  1. 6
at Park Ave 0.45 miles
 
 

Sales Summary - Past 12 Months

View By Apartment Sizes
Past 12 Months
$1,360
Avg. Price / ft2
Based on 9 Sales
 

Closing History - Last 10 sales

10
Units Sold
$980K - $2.2M
Price Range
$1,380
Avg. Price / ft2

Pricing Comparison of Similar Buildings

View Detailed Comparison

In The Neighborhood: What’s Available & Sales Stats

Not enough data available to generate chart.
  • 373 Available for Sale
  • $1,772 Avg. Price / Ft2
  • $1,961,190 Avg. Price
  • $999,000 Median Price
  1. Most Expensive Rose Hill Apt PHA | $18,750,000
    Price / ft2 $4,267
  2. Least Expensive Rutherford Place Apt C11 | $199,000
    Price / ft2 $632
Data is based on sales from past 12 months and only transactions for which we have approximate square footage information available are included above
Not enough data available to generate chart.
  • 358 Total Sales
  • $1,412 Avg. Price / Ft2
  • $1,646,043 Avg. Price
  • $1,194,000 Median Price
  1. Most Expensive The Tower at Gramercy Square Apt PH | $19,500,000
    Price / ft2 $2,790
  2. Least Expensive Gramercy East Apt 8M | $357,500
    Price / ft2 $894

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