---
title: "229 East 28th Street #5L, New York City, NY 10016"
description: "229 East 28th Street #5L, New York City, NY 10016 — Kips Bay, New York City, NY. Listing Price $399,000. Studio bed, 1 bath Illustrative Buyer Commission Share of $5,985 at closing, based on a 3% buyer-broker commission."
url: "https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10016/229-east-28th-street-5l-ny-10016"
source: "Real Estate Rebate Team"
dateModified: "2026-09-27T08:50:17.069Z"
status: "Active"
---

# 229 East 28th Street #5L, New York City, NY 10016

Kips Bay, New York City, NY

Courtesy of Keller Williams NYC

Last updated: September 27, 2026, 4:50 AM

## At a Glance

- **Listing Price**: $399,000
- **Beds**: Studio
- **Baths**: 1
- **Common Charges**: $1,115 / mo
- **Brokerage Fee**: Share Eligible

## The Private Brokerage Advantage

As an independent luxury buyer representative, Régis shares 50% of the buyer-side commission he actually receives on your purchase. Eligible buyers receive that Buyer Commission Share directly at closing to offset closing costs, down payments, or renovations. The figures below are illustrative, based on a **3% buyer-broker commission**; your share follows the commission offered on the transaction.

- **Contract Purchase Price**: $399,000
- **Illustrative Buyer Commission Share**: -$5,985*
- **Illustrative Net Cost**: $393,015

*Illustrative Buyer Savings of $5,985 — 50% of a 3% buyer-broker commission, shared at closing.*

[Request a private tour](https://realestaterebatesnewyork.com/contact) · [Estimate your Buyer Commission Share](https://realestaterebatesnewyork.com/calculators/buyer-closing-cost-calculator)

## Photos (6)

![229 East 28th Street #5L, New York City, NY 10016 — photo 1 of 6](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/cc860142-f1a7-4566-9670-5614d54ad12d.png)
![229 East 28th Street #5L, New York City, NY 10016 — photo 2 of 6](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/a1beedc7-0bbb-4a12-9981-c557cd5211b1.png)
![229 East 28th Street #5L, New York City, NY 10016 — photo 3 of 6](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/4188823d-6a06-4f4e-840b-4d669445a425.png)
![229 East 28th Street #5L, New York City, NY 10016 — photo 4 of 6](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/d235cbc3-dd29-420f-a8f0-0eda709658af.jpg)
![229 East 28th Street #5L, New York City, NY 10016 — photo 5 of 6](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/ccfa2902-0ad4-4d22-9988-29c156f5b663.png)
![229 East 28th Street #5L, New York City, NY 10016 — photo 6 of 6](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/889879e0-8078-449a-9022-225fbbfaeb73.jpg)

## Property Overview

Recently renovated, this spacious Kips Bay studio combines a thoughtfully designed layout with modern finishes and an exceptionally convenient location. The generous main room comfortably accommodates distinct sleeping, living, dining, and work-from-home areas, offering flexibility rarely found in a studio.

Hardwood floors and a large window create a warm, inviting living space with room for a queen-size bed, sofa, dining table, and additional furnishings. A separate kitchen keeps meal preparation comfortably apart from the living area and features dark wood cabinetry, stone countertops, stainless-steel appliances, and a gas range.

Built in 1962, 229 East 28th Street is a well-maintained post-war cooperative on a picturesque, low-traffic block. The elevator building offers a virtual doorman and video intercom, a full-time superintendent, a renovated laundry room, bike storage, and individual storage lockers available for rent.

With reasonable monthly maintenance and flexible purchasing policies, this well-run co-op welcomes pieds-à-terre, co-purchasing, gifting, and parents purchasing for children. Financing of up to 80% is permitted, and subletting is allowed after three years of ownership, subject to building policies and approval. The building is pet-friendly, permitting dogs up to 35 pounds.

Enjoy easy access to neighborhood restaurants, cafés, and popular bars, with Trader Joe’s just a few blocks away. Convenient transportation and proximity to Murray Hill and Gramercy put shopping, dining, nightlife, and everyday essentials within easy reach.

## Property Details

- **Property Type**: Co-op
- **Baths**: 1
- **Rooms**: 3
- **Stories**: 7
- **Year Built**: 1962
- **Common Charges**: $1,115 / Monthly
- **Listed On**: Sep 24, 2026
- **Days on Market**: 4 Days

### Residence Features

- Common On Floor
- Common Area
- Laundry Room
- Entrance Foyer
- Elevator
- Granite Counters
- High Ceilings
- Storage
- Stainless Steel Appliance(s)
- Hardwood
- Double Pane Windows
- Park/Greenbelt
- Garden

## Estimated Monthly Payment

**$3,133 / month**, assuming a 20% down payment ($79,800), a 6.5% interest rate and a 30-year term. The page's calculator lets a buyer change all three.

- **Principal & Interest**: $2,018
- **Common Charges**: $1,115

Estimates only. Actual payments may vary. Confirm terms with your lender.

## Sales and market data

### Recent sales

27 apartments at Alan J. Marcus Comp have recorded sales since September 2021, the most recent for $380,000 in August 2026. Prices are the figures recorded with the City, not asking prices.

| Unit | Beds | Sq Ft | Sold Price | $/ft² | Sold | Source |
| --- | --- | --- | --- | --- | --- | --- |
| [5F](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10016/229-east-28th-street-f-5F-ny-10016) (Apartment) | Studio | — | $380,000 | — | August 5, 2026 | City record · MLS |
| [4-K](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10016/229-east-28th-street--k-4K-ny-10016) (Apartment) | Studio | — | $350,000 | — | July 16, 2026 | MLS |
| 2C (Apartment) | Studio | — | $365,000 | — | June 17, 2026 | MLS |
| 1D (Apartment) | Studio | 550 | $364,000 | $662/ft² | April 15, 2026 | City record · MLS |
| 6D (Apartment) | Studio | — | $435,000 | — | September 26, 2025 | City record · MLS |
| 3F (Apartment) | Studio | — | $405,000 | — | September 10, 2025 | City record · MLS |
| LH (Apartment) | — | — | $313,000 | — | August 27, 2025 | City record |
| 5D (Apartment) | Studio | — | $415,000 | — | July 23, 2025 | City record · MLS |
| 5-C (Apartment) | Studio | — | $330,000 | — | June 18, 2025 | City record · MLS |
| 2E (Apartment) | — | — | $422,500 | — | December 17, 2024 | City record |
| 6C (Apartment) | — | — | $340,000 | — | August 6, 2024 | City record |
| 5B (Apartment) | Studio | — | $335,000 | — | June 27, 2024 | City record · MLS |
| 4A (Apartment) | — | — | $439,000 | — | May 14, 2024 | City record |
| LC (Apartment) | — | — | $320,000 | — | April 11, 2024 | City record |
| 6-M (Apartment) | 1 | 650 | $450,000 | $692/ft² | July 27, 2023 | City record · MLS |
| 1L (Apartment) | Studio | — | $322,500 | — | June 6, 2023 | City record · MLS |
| 2A (Apartment) | 1 | 700 | $425,000 | $607/ft² | April 4, 2023 | City record · MLS |
| 2D (Apartment) | 1 | — | $340,000 | — | March 14, 2023 | City record · MLS |
| 5E (Apartment) | — | — | $412,995 | — | February 16, 2023 | City record |
| LA (Apartment) | 2 | — | $715,000 | — | January 24, 2023 | City record · MLS |
| 2-M (Apartment) | 1 | — | $450,000 | — | January 19, 2023 | City record · MLS |
| 1J (Apartment) | 1 | — | $396,000 | — | November 16, 2022 | City record · MLS |
| 6K (Apartment) | Studio | 600 | $380,000 | $633/ft² | September 21, 2022 | City record · MLS |
| 5F (Apartment) | Studio | — | $390,000 | — | July 19, 2022 | City record · MLS |
| 1M (Apartment) | 1 | — | $445,000 | — | March 23, 2022 | City record · MLS |
| LK (Apartment) | Studio | — | $425,000 | — | March 3, 2022 | City record · MLS |
| LM (Apartment) | 1 | — | $460,000 | — | February 8, 2022 | City record · MLS |

Every row is a recorded transaction, including ancillary spaces such as storage and staff rooms where they were sold separately. Those are excluded from the benchmark below.

### How this price compares

- **This home**: $399,000
- **Median sold price**: $380,000
- **Difference**: +$19,000 (+5%)
- **Comparable sales**: 11
- **Sales from**: March 2022 – August 2026
- **Middle half of those sales**: $349,500 – $410,000

Based on studio sales at Alan J. Marcus Comp.

Square footage is recorded for only 2 of these 11 sales (18%), so no price per square foot is shown for this group. Co-op sales rarely carry a floor area, and a figure drawn from a handful of them would not describe the rest.

### How these sales were negotiated

- **Sale-to-list price**: 92.1% (11 sales)
- **Sold below asking**: 82% (11 sales)
- **Typical time to find a buyer**: 158 days (8 sales)
- **Typical time to close**: 80 days (8 sales)

Based on studio sales at Alan J. Marcus Comp with the required listing and closing data. Sample sizes vary by metric.

These are two separate periods measured on different clocks — time to find a buyer, and time from agreed deal to closing. They are medians of different sets of sales and do not add together into a single "days on market" figure.

### Price trend

Median sale price, co-op studio sales in Kips Bay

| Year | Median sold price | Sales |
| --- | --- | --- |
| 2017 | $542,500 | 22 |
| 2018 | $499,900 | 25 |
| 2019 | $430,000 | 23 |
| 2020 | $500,000 | 15 |
| 2021 | $460,000 | 34 |
| 2022 | $462,500 | 30 |
| 2023 | $407,500 | 19 |
| 2024 | $495,000 | 19 |
| 2025 | $412,500 | 28 |
| 2026 YTD | $475,000 | 18 |

Based on recorded co-op studio sales in Kips Bay. 2026 is year-to-date.

Sales data through August 2026.

Sale prices are the consideration recorded with the City in ACRIS, and each sale is dated by the day the City recorded it. A closing date reported to the MLS typically falls one to two weeks earlier. Recorded sales describe what has already happened and are not an appraisal, a valuation, or an estimate of what this home will sell for.

[See every recorded sale at Alan J. Marcus Comp](https://realestaterebatesnewyork.com/buildings/new-york-city/manhattan/alan-j-marcus-comp)

## Property Taxes

This apartment is part of a co-op that is taxed as one lot shared across 84 apartments. The corporation’s 2026 property tax bill was $709,871 for the whole building. Shareholders cover it through their monthly maintenance rather than a separate bill for this unit.

[See the full property tax history for Alan J. Marcus Comp](https://realestaterebatesnewyork.com/buildings/new-york-city/manhattan/alan-j-marcus-comp)

[How we source and calculate NYC property tax data](https://realestaterebatesnewyork.com/nyc-property-tax-data-methodology)

## About The Building

### Alan J. Marcus Comp

Kips Bay · Stock Cooperative

229 East 28th Street, New York, NY 10016

A building in Kips Bay, currently featuring 1 active listing.

- **Year Built**: 1962
- **Active Units**: 1
- **Floors**: 7

[View the building page](https://realestaterebatesnewyork.com/buildings/new-york-city/manhattan/alan-j-marcus-comp)

### Available Residences — For Sale (3)

| Unit | Beds | Baths | Size | Price / Ft² | Price | Listing Office | Listed Date | Days on Market |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [5L](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10016/229-east-28th-street-5l-ny-10016) | Studio | 1 | — | — | $399,000 | Keller Williams NYC | Sep 24, 2026 | 3 days |
| [5H](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10016/229-east-28th-street-h-5H-ny-10016) | Studio | 1 | — | — | $305,000 — In contract | Corcoran Group | Jun 8, 2026 | 111 days |
| [4M](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10016/229-east-28th-street-m-4M-ny-10016) | 1 | 1 | — | — | $475,000 (-2.1%) — In contract | Bank Neary Inc | Jun 18, 2026 | 101 days |

### Recently Sold (1)

| Unit | Beds | Baths | Size | Price / Ft² | Sold Price | Listing Office | Listed Date | Sold Date |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [5F](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10016/229-east-28th-street-f-5F-ny-10016) | Studio | 1 | — | — | $380,000 | Corcoran Group | May 14, 2026 | Aug 5, 2026 |

## Kips Bay

Medical Mile & Value

[Explore Kips Bay](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/kips-bay) · [All Neighborhoods](https://realestaterebatesnewyork.com/neighborhoods)

### Nearby Kips Bay

- [Murray Hill real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/murray-hill)
- [Gramercy real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/gramercy)
- [Flatiron District real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/flatiron-district)
- [Stuyvesant Town real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/stuyvesant-town)
- [Midtown real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/midtown)
- [East Village real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/east-village)

## Related Links

- [Alan J. Marcus Comp — building page](https://realestaterebatesnewyork.com/buildings/new-york-city/manhattan/alan-j-marcus-comp)
- [Kips Bay neighborhood guide](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/kips-bay)
- [Estimate your Buyer Commission Share and closing costs](https://realestaterebatesnewyork.com/calculators/buyer-closing-cost-calculator)
- [Contact Régis Roumila](https://realestaterebatesnewyork.com/contact)

---

> RLS IDX Data display by Real Estate Rebate Team. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

> All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and the number of bedrooms listed is for informational purposes and is not a legal conclusion. Please consult with your own architect or engineer for exact dimensions and legal specifications.