--- title: "944 Fifth Avenue #11FLR/MAIS Lists for $47.5M" description: "Analysis of 944 Fifth Avenue’s $47.5M offering, including its separate maisonette, $384K annual maintenance, flip tax and co-op due diligence." url: "https://realestaterebatesnewyork.com/guides/944-fifth-avenue-47-million-coop-maisonette" source: "Real Estate Rebate Team" --- Real Estate Rebate Team Licensed Broker NY & NJ · License: 10491211335 ## The $47.5 million offering is more than one apartment The new listing at 944 Fifth Avenue combines two distinct spaces: a renovated full-floor residence on the 11th floor and a separate two-bedroom maisonette on the ground floor. That distinction matters. The main apartment provides the Central Park views, formal entertaining rooms and privacy expected from a trophy Fifth Avenue co-op. The maisonette adds a second residence with its own kitchen, laundry, living areas and private Fifth Avenue entrance. At the full asking price, a buyer is not simply deciding what one apartment is worth. The buyer must determine how much value the second residence adds, whether both spaces work for the household and whether the ongoing cost of carrying them makes sense. [View the current 944 Fifth Avenue #11FLR/MAIS listing and complete photo gallery.](https://realestaterebatesnewyork.com/new-developments/newyorkcity/manhattan/10021/944-5th-avenue-flrmais-11FLRMAIS-ny-10021) ## What is included in the main residence The principal residence occupies the entire 11th floor. According to the listing, the renovation transformed what had once been a 15-room arrangement into 11 larger rooms. The home has four exposures and 32 oversized windows. The principal entertaining rooms include a living room and library facing Central Park, a formal dining room, a large eat-in kitchen and an east-facing media room. The primary suite occupies the southwest corner and was created by combining three original bedrooms. It now includes the bedroom, two large dressing or sitting rooms, extensive closets and a windowed bathroom. Two additional bedroom suites are located elsewhere on the floor, and the listing states that another bedroom can be restored. The residence also has two wood-burning fireplaces, eight-zone central air conditioning, private and service elevator access, a laundry room and a storage room that transfers with the sale. The asking price covers a full-floor Central Park residence, a separate two-bedroom maisonette and transferable storage, with combined stated maintenance of $31,997 per month. This table can be scrolled horizontally.Principal features of 944 Fifth Avenue #11FLR/MAIS.Component Configuration Monthly maintenance 11th-floor residence Full floor; currently three principal bedrooms with a fourth-bedroom restoration option $22,772 Ground-floor maisonette Two bedrooms, two bathrooms, living room, media room, kitchen and laundry $9,225 Storage room Transfers with the sale — The offering includes the full 11th floor, a separate two-bedroom maisonette and a storage room. The main residence maintenance is $22,772 per month and the maisonette maintenance is $9,225 per month. ### The maisonette is the feature that separates this offering The floor plan shows the full-floor residence, separate maisonette and storage. Buyers should confirm the legal configuration and share allocation. Listing image courtesy of Corcoran Group through RLS at REBNY. The ground-floor maisonette has its own private Fifth Avenue entrance and another entrance accessible from the building lobby. It contains two bedrooms, two renovated bathrooms, a living room, media room, full kitchen and washer and dryer. Possible uses include extended-family accommodation, guest quarters, staff housing or a private office. For the right household, it can solve a difficult logistical problem. For someone who does not need it, the maisonette may become an expensive space that is used only occasionally. Before assigning a value to it, I would confirm whether it is represented by separate co-op shares, whether it can ever be sold separately, how it may be financed and whether the co-op restricts leasing or use by guests and staff. At the asking price, the stated maintenance totals approximately $383,964 per year and the buyer-paid 2% flip tax would be approximately $950,000. This table can be scrolled horizontally.Current recurring maintenance and selected transaction costs at the $47.5 million asking price.Cost Monthly Annual or transaction amount Main residence maintenance $22,772 $273,264 Maisonette maintenance $9,225 $110,700 (Highlighted row) Combined maintenance $31,997 $383,964 Buyer-paid 2% flip tax at asking price — $950,000 Combined maintenance is $31,997 per month or $383,964 per year. A 2% buyer-paid flip tax at the $47.5 million asking price equals $950,000. ## Why price per square foot does not solve the valuation No dependable interior square footage is published for the combined offering. That prevents a simple price-per-square-foot comparison, but a single number would not adequately account for the full-floor layout, four exposures, direct Central Park frontage, separate maisonette, private elevator access, fireplaces, renovation and storage. The maisonette should not automatically receive the same per-square-foot value as the park-facing principal residence. Its usefulness may be high, but its light, views and role are different. I would value the package in parts: the main apartment before renovation, the value added by the completed work, the utility and market value of the maisonette, the storage, the building premium and the effect of maintenance, flip tax and board requirements. ### The renovation saves time, but value still depends on taste The kitchen includes Calacatta Gold marble, Taj Mahal quartzite and appliances by Sub-Zero, Wolf and Miele. Listing image courtesy of Corcoran Group through RLS at REBNY. A completed renovation can be especially valuable in a high-end co-op because major alterations often require board approval, architectural review, insurance, deposits, restricted construction hours and extensive coordination with building staff. The current home includes central air conditioning, custom millwork, upgraded doors, stone bathrooms, wide-plank floors and a kitchen finished with Calacatta Gold marble and Taj Mahal quartzite. But renovation cost and resale value are not the same. A buyer pays for improvements only when they match the buyer’s taste and intended use. The large primary suite was created by combining three original bedrooms, so a household that needs four bedrooms should include the cost and disruption of restoring one. ### Current listing: 944 Fifth Avenue #11FLR/MAIS #### 944 5TH Avenue #11FLR/MAIS, New York, NY 10021 Price$47,500,000 Space4 beds, 3.5 baths NeighborhoodLenox Hill BoroughManhattan [View Current Listing](https://realestaterebatesnewyork.com/new-developments/newyorkcity/manhattan/10021/944-5th-avenue-flrmais-11FLRMAIS-ny-10021) Courtesy of Corcoran Group The active $47.5 million offering combines the 11th-floor residence, separate maisonette and storage. Listing courtesy of Cathy Franklin and Corcoran Group. ## Recent building sales provide context, not a final answer 944 Fifth Avenue is a small co-op, so trades are infrequent. Public building histories report a $23 million sale for the 14th floor in March 2025, a reported $22 million sale for the eighth floor in 2024 and a $14,999,900 closing for Barbara Walters’ former sixth-floor residence in 2024. These are not direct appraisals of the current offering. Floor height, condition, views, layout, renovation and the included maisonette differ. They still establish the building’s recent resale context and show why the seller must demonstrate where the additional value comes from. The asking price is more than double the reported prices for the eighth and 14th floors. The separate maisonette and extensive renovation explain part of that difference, but a buyer still has to decide how much. ## A trophy co-op is a different purchase from a new luxury condo At approximately $47.5 million, a buyer can consider historic co-ops, new condominiums and townhouses around Central Park. They provide very different ownership experiences. 944 Fifth Avenue offers one residence per floor, prewar proportions, a small shareholder group, wood-burning fireplaces and a separate maisonette. In exchange, the buyer accepts board approval, financing limited to 50%, a buyer-paid flip tax and a smaller amenity package than many new towers. A newer condominium may offer easier ownership structures, more amenities, published square footage and greater financing flexibility. The co-op offers scarcity, privacy, architecture and the culture of a small Fifth Avenue building. ### Other ways to spend approximately $40M–$50M near Central Park [Manhattan #### 15 CENTRAL Park #16/17B, New York, NY 10023 4 Beds · 4 Baths$45,000,000Courtesy of Douglas Elliman Real Estate](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10023/15-central-park-17b-1617B-ny-10023)[Manhattan #### 432 PARK Avenue #69, New York, NY 10022 5 Beds · 6 Baths$47,000,000Courtesy of Serhant](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10022/432-park-avenue-69-ny-10022)[Manhattan #### 111 West 57th Street #PH80, New York, NY 10019 3 Beds · 3 Baths$46,000,000Courtesy of Sothebys International Realty](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10019/111-west-57th-street-ph80-PH80-ny-10019)[Manhattan #### 520 Park Avenue #PH59, New York, NY 10065 3 Beds · 3 Baths$40,000,000Courtesy of Compass](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10065/520-park-avenue-ph59-PH59-ny-10065) ## The board package is part of the purchase The building permits financing of up to 50%, but the board may require liquidity and financial strength well beyond the minimum down payment. A buyer should prepare for detailed review of income, assets, liabilities, tax returns, trusts, business ownership, references, intended occupancy, renovation plans and use of the maisonette. The highest offer is not always the safest offer for a co-op seller. A strong offer presents a credible financial profile, realistic financing, a clean transaction structure and enough post-closing liquidity to remain comfortable after the purchase. ## What I would verify before making an offer The usual co-op due diligence matters here, but the two-part nature of the offering creates additional questions. - The shares and proprietary leases associated with each residence - Whether the maisonette and main residence can be separated or sold independently - The complete maintenance schedule and any current or planned assessments - Financing rules for the combined purchase - The exact flip-tax calculation - Approved architectural plans and the legal bedroom configuration - Fireplace, central-air and window responsibilities - Rules governing staff, guest or family occupancy in the maisonette The most expensive mistake would be assigning a large value to the maisonette before understanding exactly how it may be owned, used, financed and resold. ## About this article Prepared by **Régis Roumila**, Licensed Associate Real Estate Broker and founder of Real Estate Rebate Team, with more than 25 years of experience in the New York City real estate market. Current property details and images come from the [Real Estate Rebates New York IDX listing for 944 Fifth Avenue #11FLR/MAIS](https://realestaterebatesnewyork.com/new-developments/newyorkcity/manhattan/10021/944-5th-avenue-flrmais-11FLRMAIS-ny-10021), supplied through RLS at REBNY. The listing is represented by Cathy Franklin of Corcoran Group. Real Estate Rebate Team does not represent the seller. Historical-sale context was reviewed from [StreetEasy’s public building history](https://streeteasy.com/building/944-5-avenue-new_york) and [public reporting on the Barbara Walters residence](https://www.6sqft.com/barbara-walters-upper-east-side-home-at-944-fifth-avenue-finds-buyer/). Current pricing, availability, maintenance and property details may change. This commentary is an independent buyer-focused analysis, not an appraisal, investment recommendation, legal opinion, tax opinion or financial recommendation. Buyers should independently verify all figures and consult their attorney, accountant, lender and other advisers. ## Frequently Asked Questions How much is 944 Fifth Avenue #11FLR/MAIS asking?+ The active RLS listing is asking $47.5 million for the full 11th-floor residence, separate maisonette and storage. What is included in the sale?+ The offering includes the full 11th-floor residence, a separate two-bedroom ground-floor maisonette and a storage room that transfers with the sale. What is the combined monthly maintenance?+ The main residence has stated monthly maintenance of $22,772 and the maisonette has stated monthly maintenance of $9,225, for a combined $31,997 per month. Who pays the flip tax at 944 Fifth Avenue?+ The listing states that the purchaser pays a 2% flip tax. At the full $47.5 million asking price, that would be approximately $950,000, subject to confirmation by the buyer’s attorney. How many bedrooms are currently configured?+ The public summary markets four bedrooms, while the detailed description and floor plan appear to show three currently configured bedrooms in the main residence with another bedroom restorable. The separate maisonette contains two bedrooms. Buyers should confirm the legal configuration. Is financing permitted?+ The listing states that the co-op permits financing of up to 50%. Financing and the purchaser remain subject to lender and co-op board approval. Is 944 Fifth Avenue a new development?+ No. It is a prewar co-op completed in 1925, and the current offering is a resale despite incorrect new-development and sponsor flags in the imported feed. Private Advisory • Régis Roumila ## Have Questions Before You Buy? Whether you are just starting your search or ready to make an offer, expert guidance is paramount. Connect directly with Regis for high-level guidance, custom market reports, or to discuss representative rebate strategies. 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