$885,000 Sold Jul 2026 · Unit 9D
$40,798,000 Assessed value
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| Building size | 114,407 sq ft |
|---|---|
| Building dimensions | 89 × 101 ft |
| Stories | 27 |
| Basement / garden level | Yes — below ground |
| Sq ft per floor | 4,237 sq ft |
| Year built | 1984 |
| Lot dimensions | 92 × 103 ft |
|---|---|
| Lot area | 9,535 sq ft |
| FEMA flood zone | X — minimal risk |
| Units | 151 |
|---|---|
| Zoning | C64A |
| Building class | D4 |
| Ownership | Co-op building |
| Block / lot | Block 884 / Lot 1 |
| Built FAR | 12.00 |
|---|---|
| Max residential FAR | 10.00 |
| Max commercial FAR | 10.00 |
| Max facility FAR | 10.00 |
| Last recorded sale | $885,000 (Jul 2026) |
|---|---|
| Assessed value | $40,798,000 |
| Tax class | 2 |
| Annual property tax | $2,012,564 |
| Exemptions / abatements | THE ASCOT OWNERS INC |
| Rent regulated | Co-op |
Terms on this page, explained →
407 Park Avenue South was built in 1984 — roughly 42 years old. This is a co-op building with 148 apartments — residents own shares in the corporation that owns the building, rather than their apartments outright. Apartments average about 773 sq ft (building area divided by apartment count — individual units vary). For property-tax purposes it falls under Class 2 (residential buildings with four or more units, condos and co-ops), taxed at 12.439% of a taxable value based on 45% of the city’s income-derived market value. The corporation pays one building-wide tax bill — about $2,012,564 per year — passed to residents through monthly maintenance in proportion to each apartment’s share allocation. A straight average works out to roughly $13,598 per apartment per year, though larger apartments carry more shares (and many primary residents get the co-op/condo abatement on top). The most recent recorded sale in the building was unit 9D, for $885,000 in Jul 2026.
The building already exceeds what current residential zoning would allow (12.00 built FAR vs. a residential maximum of 10.00) — typically a grandfathered or overbuilt structure that could not be rebuilt to this size under today’s rules. Those figures are for residential use — the lot also carries a commercial allowance of 10.00 FAR. This lot is associated with a co-op; individual apartments are owned as shares and taxed through the building.
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Data: NYC Department of Finance and Dept. of City Planning (PLUTO) via NYC Open Data. Figures are public records, may lag current bills, and can exclude abatements. Not financial advice.