240 East 55th Street #7-BG, New York City, NY 10022
Listing Courtesy of R New York
$2,950,000
Potential Rebate: $44,250
Overview
Move right into this gut-renovated mint-condition residence with 1,000 square feet of open entertaining space, 3 bedrooms, an office/den and 3 ½ bathrooms.<br><br>A grand foyer opens into the massive entertaining space, which boasts 35 feet of wall-to-wall windows, a state-of-the-art kitchen, and an expansive living and dining room ideal for receptions, cocktail parties and family gatherings.<br><br>The chef’s kitchen features a huge island with a hidden pull-out table that seats four. All of the appliances are high-end luxury, including oversized Thermador refrigerator and freezer columns, a 92-bottle wine cooler, a beverage refrigerator, two dishwashers, two sinks, two ovens, a built-in Miele coffee machine, and a professional 6-burner stove. There is a walk-in pantry and abundant cabinet and counter space.<br><br>Off the entrance foyer is a windowed laundry room and a windowed guest powder room. At the end of the foyer is the family wing consisting of 3 bedrooms, each with its own en-suite bathroom, as well as a large office/den. All four rooms have wall-to-wall south-facing windows and open city views. The 17’x23’ Primary Bedroom Suite features two walk-in closets, a built-in desk/cabinetry, and a private entrance from the elevator hallway.<br><br>Storage space is plentiful, with multiple customized closets and built-in shelving. There is new hardwood flooring, recessed lighting, automatic window blinds, a Sonos speaker system, and high speed Wi-Fi wiring/cable. The apartment is available furnished if desired for an additional fee.<br><br>240 E 55th Street is an established, sought-after building on a quiet block in Midtown East, with the coveted Blue Ribbon school PS 59 (Pre-K—5th) right around the corner. The building is steps from Whole Foods, Bloomingdale’s, Pecora Bianca, Lobster Club, PJ Clarke’s, East River Esplanade, Central Park, tennis courts, dog runs, and multiple garages and subways.<br><br>Storage/bike room and laundry room in the basement. Pieds-a-terre and co-purchases allowed; subletting permitted after 1 year. Part-time doorman, full-time porter, and live-in super. Financing allowed up to 75%. NO flip tax.
Home Features
- •Wall Unit(s)
- •Building Washer Dryer Install Allowed
- •Common Area
- •In Unit
- •Building Storage
- •Dining Area
- •Entrance Foyer
- •Dryer
Estimated Monthly Payment
$21,097 per month
30 year fixed, 6.28% Interest
Estimated Rebate for this Home
One-time rebate at closing
$44,250
Monthly savings impact
$123/mo
💡 Estimated at 1.5% of purchase price
The rebate is paid to you at closing and can help offset closing costs or other expenses.
Calculator Disclaimer: This calculator provides estimates for informational purposes only. Actual monthly payments, interest rates, taxes, and rebate amounts may vary. The rebate calculation is an estimate and subject to final terms. This information is not provided by the Real Estate Board of New York (REBNY).
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Listings
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. ©2025 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 for no listing shall the number of bedrooms listed be considered a legal conclusion.
The Real Estate Rebate Team
Listing Courtesy of R New York
Data Source: TRESTLE #RLS20050532
Price Analysis
Compare average listing prices and value metrics for 240 East 55th Street against the surrounding Turtle Bay market.
Average List Price
Price Per SqFt
89.82% Lower
than the Turtle Bay price-per-sq-ft average
Units in this building are listed below the neighborhood average, potentially offering better value per square foot compared to surrounding properties.
Turtle Bay
Overview of Turtle Bay
Turtle Bay is a diplomatic and residential enclave on the East Side, stretching from 43rd to 53rd Streets east of Lexington Avenue. Anchored by the United Nations, it feels international yet neighborly. For buyers eyeing Turtle Bay Manhattan real estate, the area offers a quiet retreat in the middle of it all.
Living in Turtle Bay, Manhattan is sophisticated and serene. The streets are lined with diplomatic missions, consulates, and elegant pre-war buildings. As a historic Manhattan NYC neighborhood, it attracts a mix of UN employees, longtime residents, and young professionals seeking value and proximity to Midtown offices.
Real Estate & Housing Market
The inventory of homes for sale in Turtle Bay is diverse. You can find everything from white-glove co-ops on Beekman Place to more affordable post-war condos and brownstones on the side streets. The presence of the UN creates a steady rental market for diplomats, making it attractive for investors.
Turtle Bay often offers better value than its neighbors to the north and south. Buyers can find spacious layouts and river views at price points that are competitive for prime Manhattan. The "Katharine Hepburn Garden" area adds a touch of historic celebrity allure.
Lifestyle & Community
The lifestyle in Turtle Bay is professional and polite. The nightlife on Second Avenue attracts a younger crowd for happy hour, but the side streets remain peaceful. The community is heavily influenced by the international corps of the UN, giving it a unique global flavor.
Residents enjoy a quiet quality of life. The neighborhood has a strong sense of civic pride, evident in the Turtle Bay Association's active care for the local parks and gardens. It feels like a small village tucked behind the skyscrapers.
Transportation & Accessibility
Turtle Bay is convenient for commuters. Grand Central Terminal is within walking distance, providing access to the 4, 5, 6, 7, S trains and Metro-North. The E and M trains at Lexington/53rd offer quick east-west options.
The M15 Select Bus Service on 1st and 2nd Avenues is heavily used by locals. The proximity to the FDR Drive makes leaving the city by car relatively easy compared to other parts of Midtown.
Parks, Schools & Amenities
Dag Hammarskjöld Plaza serves as the neighborhood's gathering place, hosting a greenmarket and events. The quiet Greenacre Park on 51st Street, with its 25-foot waterfall, is a hidden gem for residents seeking tranquility.
Amenities include the Vanderbilt YMCA, numerous diplomatic cultural centers, and a wide array of grocery options from Whole Foods to Morton Williams. The dining scene ranges from classic steakhouses like Smith & Wollensky to varied international cuisines.
Who This Neighborhood Is Best For
Turtle Bay is best for diplomats, midtown office workers, and buyers seeking a quiet, safe, and centrally located home. It balances the convenience of Midtown with the charm of a residential community.
