Listing Courtesy of Corcoran Group
$29,000,000
Potential Rebate: $435,000
Irreplaceable Duplex Penthouse in Boutique J.E.R. Carpenter-Designed Condominium Fifth Avenue & 80th Street<br> <br> Perched atop a landmark Italian Renaissance-style prewar condominium designed by J.E.R. Carpenter and built in 1926, this one-of-a-kind duplex penthouse occupies an iconic location at Fifth Avenue and 80th Street-directly across from the Metropolitan Museum of Art-with sweeping, protected views of Central Park.<br> <br> Set within a discreet white-glove boutique condominium of just 14 full-floor residences, each accessed via private elevator landing, the building is the most established among the few prewar condominiums on Fifth Avenue. Once home to the legendary Grace Kelly, it carries a legacy of timeless elegance and cultural distinction. The penthouse offers a rare chance to own a truly irreplaceable trophy property-one with panoramic views that can never be obstructed. Exceptional seclusion and security provide total privacy, both within the residence and the building itself.<br> <br> Spanning two full floors, the home features over 3,000 square feet of park-facing outdoor space, seamlessly integrated with both Central Park and the interior living areas. Floor-to-ceiling windows frame unobstructed views of the park and skyline, offering breathtaking sunsets and a magnificent setting for entertaining.<br> <br> The main level offers a gracious layout with a corner living room, formal dining room, chef's kitchen, and two bedroom suites. The primary suite includes a spa-style bath with Jacuzzi tub, private hammam, and a custom mahogany and cashmere-upholstered dressing room. The second bedroom is a private guest suite with direct terrace access and an en-suite bath featuring a skylight that infuses the space with natural light. A wraparound terrace completes the floor, accommodating outdoor dining for over twenty guests along with lounging and entertaining areas.<br> <br> The upper level includes a third bedroom-currently configured as a guest suite-alongside a fully equipped gym with sauna and private hammam. This level opens to a spectacular wraparound terrace with multiple dining and lounging zones, an outdoor bar, a covered pergola, and a self-sustaining seasonal herb garden. Three private outdoor showers serve the primary suite, gym, and upper guest suite, respectively.<br> <br> Dedicated mechanical rooms house independent water pumps and a museum-quality central air conditioning system, ensuring year-round comfort and efficiency throughout the penthouse.<br> <br> Additional highlights include:<br> <br> - Two private hammams (primary suite and upper guest suite)<br> <br> - Impeccably landscaped terraces with automated irrigation and centrally controlled lighting<br> <br> - A refined, quiet setting in one of the Upper East Side's most intimate and prestigious condominiums<br> <br> The building has recently completed modernization of both passenger and service elevators and a full LL11 facade restoration.<br> <br> This Fifth Avenue penthouse is a singular opportunity-an extraordinary residence of architectural pedigree, enduring quality, and unmatched privacy. With exceptional outdoor space, landmark views, and the rare flexibility of prewar condominium living, it stands among New York City's most coveted homes.<br> <br>
$150,649 per month
30 year fixed, 6.28% Interest
One-time rebate at closing
$435,000
Monthly savings impact
$1,208/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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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 Corcoran Group
Data Source: TRESTLE #RLS20040490

Compare average listing prices and value metrics for 988 5Th Avenue Condo against the surrounding Upper East Side market.
than the Upper East Side price-per-sq-ft average
This building commands a premium compared to the neighborhood baseline. This typically indicates superior amenities, newer construction, or prime positioning within Upper East Side.
The Upper East Side (UES) is the epitome of classic New York wealth and culture. Stretching from Central Park to the East River, it is home to Museum Mile, Madison Avenue fashion, and some of the most prestigious addresses in the world. For buyers seeking Upper East Side Manhattan real estate, it offers a lifestyle of polished elegance and safety.
Living in the Upper East Side ranges from the ultra-luxury of Fifth Avenue to the bustling, younger energy of Second Avenue. As a premier Manhattan NYC neighborhood, it remains the gold standard for residential stability and top-tier schools.
The market for homes for sale in the Upper East Side is surprisingly diverse. While famous for $20 million townhouses and co-ops, the eastern avenues (Yorkville) offer excellent value for studios and one-bedrooms.
It is valid to say it has two markets: the "Gold Coast" west of Lexington (historic, expensive, co-op heavy) and the area east of Lexington (more condos, more rentals, more affordable).
The lifestyle on the UES is refined. Residents spend weekends at the Met or the Guggenheim, jogging in Central Park, and dining at established bistros. It is less trendy than downtown but more livable.
The community is generational. You will see grandmothers and toddlers who both grew up in the neighborhood. It feels established, clean, and manicured.
The Upper East Side was transformed by the Second Avenue Subway (Q train), which relieved pressure on the 4/5/6 line. Now, the area feels incredibly connected to Midtown and downtown.
The crosstown buses through the park (at 65th, 79th, 86th, 96th) are vital lifelines to the West Side.
Central Park is the neighborhood's front yard. Carl Schurz Park on the East River is a hidden gem with a dog run and promenade.
Amenities are world-class. The area has the highest concentration of private schools in the city (Dalton, Spence, Chapin) and top hospitals (Lenox Hill, Mt Sinai), making it a magnet for families and professionals.
The Upper East Side is best for families, culture lovers, and anyone who wants a classic, safe, and green New York City experience.

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