885 Park Avenue

Overview of 885 Park Avenue

885 Park Avenue is a distinguished 14-story, 36-unit co-op erected in 1927 and converted to cooperative ownership in 1956. Designed by the prolific architectural firm Schwartz & Gross, who created numerous other Park Avenue buildings, this brown brick structure occupies a prime northeast corner location at 78th Street. The building showcases classic prewar elegance with a two-story limestone base, canopied entrance with attractive surrounds, decorative bandcourses at multiple levels, and sophisticated architectural details including limestone quoins and a handsome cornice.

The building's Park Avenue and 78th Street corner location places residents in the heart of the Upper East Side, just one block north of Lenox Hill Hospital. The area offers exceptional access to Madison Avenue boutiques, art galleries, fine restaurants, and cultural institutions, with convenient transportation via the Lexington Avenue subway station at 77th Street and crosstown buses on 79th Street. The pleasant side street location adds to the building's residential appeal.

Residents enjoy white glove service with a full-time doorman, resident manager, and concierge. The building features a recently renovated fitness center, private storage facilities, and laundry room. The cooperative allows pets with board approval and maintains high service standards befitting its prestigious Park Avenue address.

The apartments showcase impressive prewar layouts with generous proportions. Notable units include Penthouse B with a 95-foot terrace, and Apartment 15A, a three-bedroom duplex featuring a 62-foot "grand living area" with wrap-around terrace. Apartment 15C boasts a remarkable 33-foot entrance gallery leading to a 30-foot living room with wood burning fireplace. Many units feature wood burning fireplaces, custom built-ins, and multiple exposures, with some apartments offering 10-foot beamed ceilings, herringbone hardwood floors, and chef's kitchens with high-end appliances including Sub-Zero refrigerators.

The building uniquely accommodates both residential and medical office uses, with several ground floor medical suites available for conversion to residential space. These conversion opportunities range from 1,100 to 5,100 square feet, offering potential for creating substantial homes. The building imposes a 3% flip tax payable by buyers, and medical-to-residential conversions require board approval and proper permits.