--- title: "988 5th Avenue #PH, New York City, NY 10075" description: "988 5th Avenue #PH, New York City, NY 10075 — Upper East Side, New York City, NY. Listing Price $24,950,000. 3 bed, 4 bath Illustrative Buyer Commission Share of $374,250 at closing, based on a 3% buyer-broker commission." url: "https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10075/988-5th-avenue-ph-PH-ny-10075" source: "Real Estate Rebate Team" dateModified: "2026-09-08T19:52:35.856Z" status: "Active" --- # 988 5th Avenue #PH, New York City, NY 10075 Upper East Side, New York City, NY Courtesy of Corcoran Group Last updated: September 8, 2026, 3:52 PM ## At a Glance - **Listing Price**: $24,950,000 - **Beds**: 3 - **Total Baths**: 4 - **Common Charges**: $7,384 / 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**: $24,950,000 - **Illustrative Buyer Commission Share**: -$374,250* - **Illustrative Net Cost**: $24,575,750 *Illustrative Buyer Savings of $374,250 — 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 (10) ![988 5th Avenue #PH, New York City, NY 10075 — photo 1 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/7f4616b8-7bd3-4e12-a933-8a9862bb9f05.jpg) ![988 5th Avenue #PH, New York City, NY 10075 — photo 2 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/cbe9edea-d486-4b9f-98b7-f18a70135aba.jpg) ![988 5th Avenue #PH, New York City, NY 10075 — photo 3 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/962e9f0c-2aab-40b0-9573-cbcfeddea6b1.jpg) ![988 5th Avenue #PH, New York City, NY 10075 — photo 4 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/4fb494a6-d540-4d9c-a464-92f0ab3c564e.jpg) ![988 5th Avenue #PH, New York City, NY 10075 — photo 5 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/4aca94e3-6543-499e-9cb5-fb41cc526acb.jpg) ![988 5th Avenue #PH, New York City, NY 10075 — photo 6 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/cccb23a0-2dce-4ed1-af0f-0c0f13763177.jpg) ![988 5th Avenue #PH, New York City, NY 10075 — photo 7 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/03068668-f7e0-493a-94fe-2ae03aae9274.jpg) ![988 5th Avenue #PH, New York City, NY 10075 — photo 8 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/e1cfa3d9-2e58-4629-9e3a-81d66f0816f8.jpg) ![988 5th Avenue #PH, New York City, NY 10075 — photo 9 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/5123f4b1-3010-4c3f-990e-134ccc7dfcc7.jpg) ![988 5th Avenue #PH, New York City, NY 10075 — photo 10 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/43b3fdc1-3e71-4e92-8226-7214cfef7207.jpg) ## Property Overview Fifth Avenue's Most Exclusive Duplex Penthouse Condominium Residence Perched atop one of the few true prewar condominium buildings on Fifth Avenue, this extraordinary duplex penthouse commands sweeping views over Central Park. Designed in 1926 by renowned architect J. E. R. Carpenter, the Italian Renaissance-style building is widely regarded as one of Fifth Avenue's premier boutique condominiums and has counted notable residents including Grace Kelly among its distinguished history. Comprised of just fourteen full-floor residences, each accessed via private elevator landing, the building offers a rare level of privacy, scale, and discretion seldom found in Manhattan. Encompassing approximately 6,000 square feet of combined interior and exterior living spaces across two dramatic levels, including expansive landscaped terraces, the residence was custom created to be an exceptional private retreat above Central Park. Floor-to-ceiling windows and sliding glass doors seamlessly connect the interiors to the outdoor spaces while framing breathtaking, permanently protected park views. Designed to accommodate both grand-scale entertaining and intimate daily living, the main level features an oversized corner living room centered around a dramatic double-sided fireplace, a formal dining room, and a skylit stainless-steel chef's kitchen - each opening directly onto the terrace. Two exceptional bedroom suites complete this level, including a spectacular primary suite overlooking Central Park, appointed with a hammam spa, soaking tub, and bespoke mahogany dressing room upholstered in cashmere. A private wellness retreat, complete with a gym, sauna, spa, and direct terrace access, is accessible via a sculptural spiral staircase. Ascending from the dining room, an additional guest suite opens onto a remarkable wraparound rooftop terrace featuring a covered pergola, wet bar, outdoor gym, multiple lounge and dining areas, and three outdoor showers. Thoughtfully landscaped for year-round enjoyment, the terraces create an atmosphere unlike any other residence along Fifth Avenue. Throughout the home, architectural detailing has been meticulously considered, complemented by sophisticated infrastructure including dedicated mechanical rooms, independent water pumps, and museum-quality central air-conditioning systems. Automated irrigation and centralized lighting further enhance the terraces and gardens in every season. Residents enjoy the discretion and white-glove service long associated with 988 Fifth Avenue, including a full-time doorman, live-in resident manager, and private storage. Recent capital improvements include a comprehensive facade restoration and modernization of both the passenger and service elevators. Combining architectural pedigree, irreplaceable Central Park views, extraordinary outdoor living, and the flexibility of condominium ownership, this penthouse presents a rare opportunity to acquire one of New York City's most private and iconic residences. ## Property Details - **Property Type**: Duplex - **Beds**: 3 - **Total Baths**: 4 - **Rooms**: 7 - **Stories**: 13 - **Year Built**: 1925 - **Common Charges**: $7,384 / Monthly - **Listed On**: May 20, 2026 - **Days on Market**: 115 Days ### Residence Features - Private Outdoor Space Over 60 Sqft - Separate/Formal Dining Room - Dishwasher - Washer Dryer Allowed - City Lights - City - Park/Greenbelt - Panoramic ## Sales Evidence ### Recent closed sales 3 apartments at 988 5th Avenue have recorded sales since September 2021, the most recent for $16,250,000 in October 2025. Prices are the figures recorded with the City, not asking prices. | Unit | Beds | Sq Ft | Sold Price | $/ft² | Sold | Source | | --- | --- | --- | --- | --- | --- | --- | | 12 (Apartment) | 4 | 3,280 | $16,250,000 | $4,954/ft² | October 15, 2025 | City record · MLS | | 4 (Apartment) | 3 | — | $17,500,000 | — | September 22, 2025 | City record · MLS | | 12 (Apartment) | 4 | 3,400 | $14,625,000 | $4,301/ft² | April 20, 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 The median closed price for comparable condo three-bedroom sales in Upper East Side is $3,384,238, based on 52 sales between September 2024 and June 2026. This home is asking $24,950,000, $21,565,762 above that median. The middle half of those sales closed between $2,768,750 and $3,912,500. - **Median closed price**: $3,384,238 - **Middle half**: $2,768,750 – $3,912,500 - **Based on**: 52 condo three-bedroom sales in Upper East Side - **Period**: September 2024 – June 2026 - **Median $/ft²**: $1,852/ft² Across the 41 of these sales with a published asking price, the median closed at 95.3% of what it originally asked. 76% of them closed below the original ask. This building has not had enough comparable sales of its own in the period to support a median, so the benchmark is drawn from Upper East Side instead. ### How these sales were negotiated - **Sold vs original ask**: 95.3% of the original ask - **Closed below ask**: 76% of 41 sales - **Listed → in contract**: 63 days (about 9 weeks) - **In contract → closed**: 66 days (about 9 weeks) Across the 41 of these sales with a published asking price, the median closed at 95.3% of what it originally asked. 76% of them closed below the original ask. Half of these homes were in contract within 63 days (about 9 weeks) of coming to market, based on the 41 with a recorded listing date. Once a deal was agreed, closing took a further 66 days (about 9 weeks), based on the 37 with both dates recorded. 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. Based on 52 condo three-bedroom sales in Upper East Side, September 2024 – June 2026. Each figure counts only the sales that recorded the dates it needs, which is why the denominators differ. ### Price trend Median sold price for condo and house three-bedroom sales in Upper East Side, 2017 to 2026. The series is held to one bedroom count and one ownership type for the same reason: an unfiltered median tracks which apartments sold, not what they were worth. | Year | Median sold price | Sales | | --- | --- | --- | | 2017 | $5,200,000 | 33 | | 2018 | $3,782,500 | 30 | | 2019 | $2,845,124 | 20 | | 2020 | $2,402,500 | 14 | | 2021 | $2,909,574 | 32 | | 2022 | $4,286,629 | 31 | | 2023 | $5,315,924 | 38 | | 2024 | $2,967,500 | 22 | | 2025 | $3,225,000 | 31 | | 2026 | $5,103,750 | 14 | This building does not have enough sales with a recorded floor area to chart its own price per square foot, which is usual for a co-op. The series above follows comparable homes across Upper East Side instead. 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 988 5th Avenue](https://realestaterebatesnewyork.com/buildings/new-york-city/manhattan/988-5th-avenue) ## Price and Property History for 988 5TH Avenue, Unit PH Review the recorded listing activity for 988 5TH Avenue, Unit PH, including asking-price changes and prior market dates. - **Latest price change**: Reduced by $3,000,000, or 10.7%, on September 8, 2026 - **Originally listed**: May 20, 2026 at $27,950,000 - **Current asking price**: $24,950,000 | Date | Price | Listing event | | --- | --- | --- | | September 8, 2026 | $24,950,000 | Asking price reduced by $3,000,000, or 10.7% | | May 20, 2026 | $27,950,000 | Listed for sale by Corcoran Group | ## Property Tax History Taxes at 988 5th Avenue #PH were $32,401 in 2026, up 3.2% from 2025. | Year | Tax Assessment | Land | Additions | Billable Value | Property Tax | Tax Rate | | --- | --- | --- | --- | --- | --- | --- | | 2026 (FY 2026/27) | $274,824 | $54,000 | $220,824 | $259,209 | $32,401 | 12.5% (estimated) | | 2025 (FY 2025/26) | $270,702 | $54,000 | $216,702 | $251,124 | $31,391 | 12.5% (estimated) | | 2024 (FY 2024/25) | $254,628 | $54,000 | $200,628 | $249,361 | $31,170 | 12.5% | | 2023 (FY 2023/24) | $250,308 | $54,000 | $196,308 | $250,308 | $20,548 after $10,746 abatement | 12.502% | | 2022 (FY 2022/23) | $245,592 | $54,000 | $191,592 | $245,592 | $9,067 after $21,060 abatement | 12.267% | | 2021 (FY 2021/22) | $249,750 | $54,000 | $195,750 | $249,750 | $10,126 after $20,431 abatement | 12.235% | | 2020 (FY 2020/21) | $276,624 | $54,000 | $222,624 | $255,004 | $31,281 | 12.267% | | 2019 (FY 2019/20) | $270,396 | $54,000 | $216,396 | $245,147 | $30,577 | 12.473% | | 2018 (FY 2018/19) | $257,598 | $54,000 | $203,598 | $234,461 | $29,570 | 12.612% | | 2017 (FY 2017/18) | $237,762 | $54,000 | $183,762 | $224,619 | $28,569 | 12.719% | | 2016 (FY 2016/17) | $232,650 | $54,000 | $178,650 | $217,469 | $28,036 | 12.892% | | 2015 (FY 2015/16) | $227,340 | $54,000 | $173,340 | $209,657 | $27,010 | 12.883% | | 2014 (FY 2014/15) | $216,972 | $54,000 | $162,972 | $198,591 | $25,529 | 12.855% | | 2013 (FY 2013/14) | $208,386 | $54,000 | $154,386 | $186,798 | $24,555 | 13.145% | | 2012 (FY 2012/13) | $202,014 | $54,000 | $148,014 | $174,246 | $22,967 | 13.181% | | 2011 (FY 2011/12) | $207,486 | $54,000 | $153,486 | $163,837 | $22,008 | 13.433% | | 2010 (FY 2010/11) | $185,400 | $54,000 | $131,400 | $151,228 | $19,914 | 13.353% | The City has not published the official FY2026/27 and FY2025/26 tax rates yet. We calculated the tax for those years using the prior year’s rate, so treat them as an estimate rather than a figure the City has adopted. Every rate without the Estimated marker is the published one. Tax Assessment is the assessed value on the City’s roll, and it is the figure other listing sites publish. It is not what the bill is calculated on. New York phases assessment changes in gradually for some tax classes, so the City bills the Billable Value shown beside it, less any exemption the owner holds. It usually trails the assessment, and it can sit above it for a few years after an assessment falls. Where an abatement applies, Property Tax is the amount owed after it. Abatements are granted to the property and do not necessarily transfer to a new owner. Figures are the New York City Department of Finance assessment roll for tax lot 1014911413. Assessed and billable values are determined by the City for tax purposes and are not an appraisal or an estimate of market value. Tax classes and rates are set annually and can change. [How we source and calculate NYC property tax data](https://realestaterebatesnewyork.com/nyc-property-tax-data-methodology) ## About The Building ### 988 5th Avenue Upper East Side · Condominium 988 5th Avenue, New York, NY 10075 A building in Upper East Side, currently featuring 2 active listings. - **Year Built**: 1925 - **Total Units**: 2 - **Floors**: 13 [View the building page](https://realestaterebatesnewyork.com/buildings/new-york-city/manhattan/988-5th-avenue) ### Available Residences — For Sale (2) | Unit | Beds | Baths | Size | Price / Ft² | Price | Listing Office | Listed Date | Days on Market | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | [PH](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10075/988-5th-avenue-ph-PH-ny-10075) | 3 | 4 | — | — | $24,950,000 (-10.7%) | Corcoran Group | May 20, 2026 | 114 days | | [6](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10075/988-5th-avenue-6-ny-10075) | 5 | 5 | 3,550 sqft | $5,211 | $18,500,000 — In contract | Compass | Feb 18, 2026 | 205 days | ## Estimated Monthly Payment **$133,545 / month**, assuming a 20% down payment ($4,990,000), a 6.5% interest rate and a 30-year term. The page's calculator lets a buyer change all three. - **Principal & Interest**: $126,161 - **Common Charges**: $7,384 Estimates only. Actual payments may vary. Confirm terms with your lender. ## Potential NYC Second-Home Tax This property may be subject to New York City’s non-primary residence surcharge if it is not used as a qualifying primary residence. The surcharge is based on the NYC Department of Finance market value, not the listing price. [Estimate the Potential Surcharge](https://realestaterebatesnewyork.com/calculators/nyc-second-home-tax-calculator) ## Upper East Side Overview of Upper East Side [Explore Upper East Side](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/upper-east-side) · [All Neighborhoods](https://realestaterebatesnewyork.com/neighborhoods) ### Nearby Upper East Side - [Central Park real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/central-park) - [Roosevelt Island real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/roosevelt-island) - [Upper West Side real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/upper-west-side) - [Midtown real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/midtown) - [Theater District real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/theater-district) - [East Harlem real estate for sale](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/east-harlem) ## Related Links - [988 5th Avenue — building page](https://realestaterebatesnewyork.com/buildings/new-york-city/manhattan/988-5th-avenue) - [Upper East Side neighborhood guide](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/upper-east-side) - [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.