THE CONDO BOOK PROJECT

Towers Of 301 Park Avenue

301 Park Avenue, Manhattan, NY 10022

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Overview

A 375-residence condo conversion of a landmarked Park Avenue building, sponsored by AB Stable LLC, with a hotel of about 377 rooms below. The hotel owner names four of seven condominium board seats, and the plan sets up no reserve fund.

  • Address: 301 Park Avenue, Midtown East, Manhattan (block 1304)
  • Plan: CD180101, accepted for filing in November 2019
  • Residences: about 375, from studios averaging about 657 square feet to four-bedrooms averaging about 3,930 square feet. Unit 1908 is set aside for the resident manager.
  • Other units: a Hotel Unit, a Club Unit (planned as a spa, fitness and wellness facility) and a Retail Unit, none offered under this plan
  • The building: 47 construction stories, about 616 feet tall, with three below-grade levels. Marketing floor numbers skip 7, 9, 13, 16 to 18 and 44, so they don't match construction floors.
  • Parking and storage: 28 valet-only parking licenses at $500,000 each, 52 storage bin licenses at $50,000 or $250,000, and 37 refrigerated wine lockers at $30,000 each, all sold as licenses, not deeded units
  • First offering: 75 residences at about $440.2 million in total, from $1.7 million for a studio to $28 million for a four-bedroom on the 47th marketing floor (sponsor offering prices, not sales). With licenses, the first offering came to about $458.9 million.

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FigureThis building1Lantern House2181 units · 1.9 miaccepted 2020Monogram3191 units · 0.1 miaccepted 2022
Average Offering PricePer Apartment$5.9MHighest$4.52M$1.62M

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Unit mix, closings, budgets, finishes and the team, against Lantern House and Monogram, cited to the offering plans. No credit card required.

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How We Got This
  • Comps: the closest Manhattan plans on size, $/SF and launch date, within 2 miles when possible.
  • Figures: each building's own offering plan, filed with the NY Attorney General. Nothing is estimated.
  • Checked: a price list publishes only when its math adds up, and building pages cite the plan pages.
  • Labels: In line is between the comps; Below/Above peers is past both by up to 15%; Lowest/Highest by more.

Closings Pro

Homes closed20% of the homes in Schedule A76 of 375
Closing prices vs. Schedule A64 homes: $231,603,136 at closing against $243,779,000 in Schedule A (p. 108, p. 109, p. 110, p. 111, p. 112)−5%
Closingsfirst and latest recordedDec 20, 2024 – Sep 10, 2026

Sales recorded with the Department of Finance (ACRIS) through Sep 30, 2026: deeds, or transfer tax filings for a building on leased land, of $10,000 or more. A home's first sale since the plan was filed is the sponsor's closing; resales aren't counted. Closing prices are compared with the same home's Schedule A price, as first offered (or, for a home the plan listed without a price, the amendment that priced it); a deed covering more than one home isn't compared. Amendments often change prices before a home closes, and a deed that includes parking or storage counts its full price. ACRIS records a sale weeks after closing, so recent contracts don't appear yet. Every building's sales.

All 76 closings
HomeRecordedClosing priceSchedule ADifference
2001Dec 20, 2024$2,475,000$2,600,000 p. 108−4.8%
2015Dec 23, 2024$1,815,000$1,875,000 Amendment 12, p. 51−3.2%
1916Dec 30, 2024$3,003,838$3,220,000 Amendment 12, p. 51−6.7%
1917Feb 20, 2025$2,950,000$3,250,000 p. 108−9.2%
1915Feb 27, 2025$1,888,854$1,855,000 Amendment 12, p. 51+1.8%
1911Mar 4, 2025$4,625,000$4,750,000 p. 108−2.6%
2212Mar 5, 2025$6,130,042$6,400,000 p. 109−4.2%
2101Mar 7, 2025$2,600,000$2,675,000 Amendment 12, p. 51−2.8%
2301Mar 14, 2025$2,571,697$2,675,000 p. 109−3.9%
1909Mar 19, 2025$2,265,000$2,400,000 p. 108−5.6%
1918Mar 31, 2025$1,750,000$1,700,000 p. 108+2.9%
2231Apr 14, 2025$1,827,165$1,950,000 Amendment 12, p. 52−6.3%
2232Apr 14, 2025$3,572,704$3,800,000 Amendment 12, p. 52−6%
2316Apr 15, 2025$3,375,000$3,375,000 Amendment 12, p. 520%
2017Apr 23, 2025$3,350,000$3,350,000 Amendment 12, p. 510%
1912Apr 29, 2025$5,625,000$6,250,000 p. 108−10%
2117Apr 30, 2025$3,425,000$3,300,000 p. 109+3.8%
2217Apr 30, 2025$3,536,313$3,500,000 Amendment 12, p. 52+1%
2203May 19, 2025$2,735,000$2,735,000 Amendment 12, p. 520%
2312Jun 5, 2025$6,450,000$6,450,000 Amendment 12, p. 520%
2221Jun 6, 2025$2,446,000$2,550,000 p. 109−4.1%
2321Jun 16, 2025$2,457,838$2,575,000 Amendment 12, p. 52−4.5%
2201Jul 3, 2025$2,529,867$2,700,000 Amendment 12, p. 52−6.3%
2215Jul 3, 2025$1,705,000$1,915,000 Amendment 12, p. 52−11%
2216Jul 3, 2025$2,919,795$3,310,000 Amendment 12, p. 52−11.8%
2118Jul 9, 2025$1,720,000$1,740,000 p. 109−1.1%
2031Jul 21, 2025$1,612,908$1,584,000 Amendment 12, p. 51+1.8%
2019Jul 25, 2025$6,575,000——
2021Jul 30, 2025$2,451,000$2,500,000 p. 108−2%
2317Aug 4, 2025$3,325,000$3,350,000 p. 110−0.7%
2315Aug 8, 2025$1,850,000$1,950,000 Amendment 12, p. 52−5.1%
2102Aug 15, 2025$1,775,000$1,875,000 Amendment 12, p. 51−5.3%
2911Aug 28, 2025$5,420,000$5,600,000 p. 111−3.2%
2025Sep 3, 2025$2,410,000$2,525,000 Amendment 12, p. 51−4.6%
2032Sep 19, 2025$3,050,000$3,750,000 Amendment 12, p. 51−18.7%
2103Sep 24, 2025$2,475,119$2,650,000 Amendment 12, p. 51−6.6%
2003Sep 26, 2025$2,450,000$2,735,000 Amendment 12, p. 51−10.4%
3001Sep 30, 2025$2,550,000$2,850,000 p. 111−10.5%
1919Oct 20, 2025$6,372,629——
3205Oct 29, 2025$6,100,000$6,100,000 Amendment 12, p. 530%
3211Oct 29, 2025$5,750,000$5,850,000 Amendment 12, p. 53−1.7%
3301Oct 30, 2025$2,632,732$2,925,000 p. 111−10%
3005Nov 5, 2025$5,550,000$6,000,000 Amendment 12, p. 53−7.5%
2904Nov 12, 2025$4,850,000$5,150,000 p. 111−5.8%
2007Dec 5, 2025$1,600,000$1,825,000 p. 108−12.3%
2206Dec 5, 2025$2,500,000——
2224Dec 5, 2025$1,685,000——
2225Dec 5, 2025$1,715,000——
2208Dec 8, 2025$2,500,000——
3006Dec 15, 2025$10,207,500$10,200,000 p. 111+0.1%
2413Dec 30, 2025$5,575,000$5,850,000 Amendment 12, p. 52−4.7%
3411Dec 30, 2025$5,610,000$5,950,000 Amendment 12, p. 54−5.7%
3111Jan 26, 2026$5,415,000$5,700,000 p. 111−5%
2018Jan 29, 2026$1,400,000$1,800,000 Amendment 12, p. 51−22.2%
2811Mar 17, 2026$5,895,000$6,300,000 Amendment 12, p. 53−6.4%
2121Mar 30, 2026$2,275,000——
2601Mar 30, 2026$2,530,000$2,750,000 Amendment 12, p. 53−8%
2218Mar 31, 2026$1,765,392$1,760,000 p. 109+0.3%
2004Apr 13, 2026$1,720,000——
2417Apr 22, 2026$3,625,000$3,750,000 Amendment 12, p. 52−3.3%
2132May 14, 2026$3,050,000——
3511May 21, 2026$5,515,000$6,000,000 p. 112−8.1%
2801Jun 16, 2026$2,585,000$2,800,000 p. 110−7.7%
2901Jun 16, 2026$2,608,000$2,825,000 Amendment 16, p. 27−7.7%
3801Jun 24, 2026$3,038,000$3,100,000 p. 112−2%
4111Jul 1, 2026$6,175,000$6,300,000 p. 112−2%
3911Jul 8, 2026$6,325,000$6,500,000 Amendment 16, p. 29−2.7%
4011Jul 15, 2026$5,900,000$6,800,000 Amendment 16, p. 29−13.2%
2701Jul 24, 2026$2,656,000$2,775,000 p. 110−4.3%
4201Aug 4, 2026$3,130,000$3,200,000 p. 112−2.2%
3004Aug 10, 2026$4,977,372$5,200,000 Amendment 16, p. 27−4.3%
2905Aug 12, 2026$5,850,000$5,950,000 Amendment 16, p. 27−1.7%
2633Aug 24, 2026$1,850,000——
3002Aug 31, 2026$2,800,000——
2627Sep 9, 2026$2,550,000——
2128Sep 10, 2026$5,220,000$6,150,000 Amendment 16, p. 25−15.1%

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Budget

What It Costs to Run

The sponsor projected a first-year residential budget (April 2022 to March 2023) of about $13.7 million. License fees and about $500,000 of other income, such as amenity rentals and move fees, cover a small part, and common charges cover the rest. Here's how that works out per Schedule A:

  • About $920 to $7,070 a month in common charges for the 75 homes first offered.
  • Up to about $12,700 a month for the largest four-bedrooms at the top.
  • Projected real estate taxes run higher than common charges, from about $1,240 to $17,100 a month.

Notable lines:

  • Staff: about $5.8 million.
  • Utilities: about $2.3 million for common electricity (including central air conditioning) and about $760,000 for heat and hot water.
  • Share of building-wide costs: about $1.95 million paid to the Condominium Board.
  • Service contracts: about $1.46 million, including about $280,000 for an amenity operator, $270,000 for managed Wi-Fi, $210,000 for the parking operator and shares of the club and hotel unit costs.
  • Management fee: about $412,000 to FirstService Residential New York.
  • Insurance: about $220,000.

Good to know: no reserve fund is set up, apart from a $5,000 reserve line and a $50,000 contingency in the budget. The plan warns common charges could rise or special assessments could come within five years of the first closing. At closing you pay three months of common charges into working capital, plus your share of the $3.2 million cost of buying the resident manager's unit. For why budgets like this vary so much, see why operating costs differ and our common charge benchmarks.

From our research: The Sponsor's Condo-Creation Fee in NYC · NYC Condo Insurance Costs Are Rising · Condo Supplies Cost per Unit, by Size

The Building

Finishes

Skidmore, Owings & Merrill prepared the building description, and it lists Jean-Louis Deniot of Paris as interior designer. Kitchens come in eight equipment groups, from smaller layouts up to the largest homes, and every item is "or equal" (compare with our NYC condo finishes guide).

Kitchen

  • Appliances: mostly Gaggenau, including a microwave, wall ovens, dishwashers, refrigerator and freezer columns and wine storage. Some layouts get a Bosch hood or a Thermador under-counter refrigerator instead.
  • Bigger kitchens: some groups add a Gaggenau steam oven or warming drawer, and the largest layouts get two ovens and two dishwashers.
  • Cooking is gas. Range tops are Gaggenau gas models, and cooking gas is metered for the whole building and paid through common charges (about $68,000 in year one).
  • Wood-veneer cabinets, white marble countertops (or equal), a custom Waterworks sink, a Symmons faucet and an InSinkErator disposal.

Baths

  • Waterworks tubs and toilets, with Symmons faucets, shower controls and towel bars throughout.
  • Custom built-in medicine cabinets, and stone or tile floors.
  • Primary baths get electric floor-warming mats, and baths on exterior walls get hot-water radiators.

See how these names rank in our bathroom brands guide.

Floors, Ceilings and Windows

  • Engineered wood floors over plywood with a sound mat, and stone in the foyer.
  • Ceilings of about 9'-9" in primary rooms on the lower residential floors and about 10'-11" higher up, with some taller floors reaching about 12'-11". The plan says finished floors take off up to three more inches.
  • All residential windows are new, mostly double-hung, aluminum framed and thermally broken, with insulated low-E glass, set into the original brick and limestone walls.

Laundry, Heating and Cooling

  • A Whirlpool washer and dryer in every residence, plus a card-operated laundry room on Floor 5.
  • Four-pipe fan coil units for heat and cooling, fed by a central hot-water plant (Con Edison steam) and a central chilled-water plant with three chillers. Thermostats control zones in each home.
  • Each home's electricity is submetered and billed to the owner.

Amenities, Staffing & Transportation

Most residents-only amenities sit on Floor 25, a floor with no apartments (compare with amenities by building size).

Floor 25

  • A pool of about 78 by 12.5 feet, 4 feet deep, under an operable skylight, with men's and women's locker rooms and lifeguards from an outside company.
  • Residential dining rooms, function rooms, a library and a theater.
  • A golf simulator and a children's playroom.
  • A wine room with the 37 wine lockers.

Elsewhere in the Building

  • A residents' fitness center on Floor 26 and a residents' terrace on Floor 27.
  • A conference center on Floor 19.
  • Bike storage for about 188 bikes on the B2 level, first come, first served.
  • Access to the hotel's amenity terrace, and to the Club Unit's fitness facility and locker rooms during operating hours.

Good to know: the hotel and club owners can change or drop the services they provide without residents' consent, and the plan makes no promise the hotel stays a Waldorf Astoria. If the hotel management agreement ends, the residences lose the right to use the name too. Some amenities may not open until up to 18 months after the first closing.

Staffing and Services

The year-one budget plans a Local 32BJ staff:

  • A live-in resident manager (in unit 1908) and three handymen.
  • Doormen and concierges around the clock in the residential lobby, plus hallmen and back-of-house security.
  • Twelve porters, and parking attendants and valets for the garage.

Payroll and benefits come to about $5.8 million, over 40% of the budget. Each side of the building has its own bank of three passenger elevators and a service elevator, and two car elevators serve the garage. Residents also get a Waldorf Astoria personal concierge service, and the hotel and club sell housekeeping, valet laundry, in-home dining, catering, private cars and spa services at their own prices. Our doorman cost guide puts these numbers in context.

Tip: each home has a concierge closet with an outside door, used by staff and the hotel to drop off packages and food. You can't open it from the corridor side or use it for storage.

Transportation

  • Subway: 2 min walk to Lexington Av/51-53 Sts 6 E F M; 5 Av/53 St E F, 6 min
  • Parking: 34 parking units in the plan

Fine Print

What's Specific to It

  • Condos over a hotel: the Hotel Unit, about 377 guest rooms and suites, is to be run by Waldorf=Astoria Management LLC under an agreement that began in February 2015 and runs 100 years. Residents can reach the hotel lobby directly from the second-floor residential elevator lobbies.
  • Hotel and club services in the common charges: a Waldorf Astoria personal concierge service and access to the club's fitness facility, locker rooms and classes are paid for through common charges. Housekeeping, in-home dining, spa treatments and similar extras are pay-per-use.
  • The hotel owner controls the top board: the seven-member Condominium Board has four members named by the Hotel Unit owner and three by the residential board, so residents can never hold a majority there.
  • A landmark, not new construction: the building is a designated landmark and the plan says the units are not new construction. Some parts stay original, and interior work that needs a permit also needs Landmarks Preservation Commission sign-off.
  • Railroad tracks below: Metro-North tracks run under the site, and much of the land below street level belongs to another owner, leased to the MTA, which keeps rights to work on and under the building.
  • Most homes held back at launch: only 75 of the 375 residences were first offered. The sponsor may rent unsold units and only has to sell 15% to declare the plan effective.

The Towers of 301 Park Avenue fills the upper part of a full-block building bounded by Park and Lexington Avenues and East 49th and 50th Streets, with its own residential lobby and a semi-circular driveway on East 50th Street and a second entrance on Park Avenue. Its offering plan spells out what residents share with the hotel, what's in the apartments and what the building should cost to run.

Fine Print Worth Knowing

  • Owners may never control their board: the sponsor names a majority of the residential board for at least five years after the first closing. Because it can rent unsold homes, it only has to sell 54 units, and the first owners' meeting may never happen.
  • Facade repairs found before renovation: the latest Local Law 11 report listed unsafe conditions, including loose and cracked brick and cast stone spalls on both towers above the 43rd floor and cracked parapets. The sponsor says these will be fixed before the first closing. Future inspections, possibly with long scaffolding, are on the condominium.
  • Asbestos in the walls: an original vapor barrier on the exterior walls contains asbestos. The plan says it will be fully encapsulated and kept out of reach.
  • Storage under the street: the storage bins sit in a sidewalk vault under 50th Street that the city owns. If the city revokes use, bin licenses end with no refund. Parking is valet only, with a car limit of about 15'-6" long and 6,000 pounds.
  • Rebuilding limits: the building has more floor area than zoning now allows. If 75% or more were destroyed, it could only be rebuilt to current limits.
  • Rules on resale and rentals: you can't list or resell for 12 months after closing, rentals must be at least 12 months, and short-term or timeshare use is barred.
  • Pets and windows: up to two dogs of 40 pounds or less (no pit bulls or Rottweilers), cats, caged birds and fish. Window treatments must have white backing, and there's no window-washing rig, so owners are responsible for cleaning their own windows, inside and out.

Team

Nearby

FAQ

Does The Towers of 301 Park Avenue have a pool?

Yes. A residents-only pool of about 78 by 12.5 feet sits under an operable skylight on Floor 25, with men's and women's locker rooms and lifeguards on duty during operating hours, and residents can also use the Club Unit's fitness facility.

What hotel services do owners get?

Common charges cover a Waldorf Astoria personal concierge service and brand experiences the hotel offers from time to time. Housekeeping, valet laundry, in-home dining, a personal chef, catering and private cars are available for a fee, and the hotel owner can change these services without residents' consent.

Is there a reserve fund?

No. The plan sets up no reserve fund, apart from a $5,000 reserve line and a $50,000 contingency in the first-year budget, and it warns that common charges could rise or assessments could be levied for capital needs within five years of the first closing.

Where this comes from: the building's offering plan (CD180101) as filed with the New York Attorney General, including its Special Risks, Description of the Property and Improvements, Description of Property and Building Condition, Schedule A, Schedule B-1 and Identity of Parties. Prices are the sponsor's offering prices, not sales, and budget figures are the sponsor's first-year projections. Later amendments may change them. Updated October 2026.