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Property Description
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.
Full Property Details
Full Property Details for 988 5th Ave #PH
General
- Price: $27,950,000
- HOA FEE: $7,384/month
- Status: Active
- Type: Duplex
- Source: REBNY
- MLS ID: RLS20092420
- Updated: 5/20/2026
- Added to Site: 2 day(s) ago
Interior
- Number of Rooms: 7
- Interior Features: Separate/Formal Dining Room
- Fireplace: Yes
- Number of Fireplaces: 1
- Fireplace(s): Gas
- Appliances: Dishwasher, Washer Dryer Allowed
Rooms
Bathrooms
- Total Bathrooms: 4
- Full Bathrooms: 3
- Half Bathrooms: 1
Bedrooms
- Total Bedrooms: 3
Other Rooms
- Laundry: Building None
Exterior
- Exterior Features: Private Outdoor Space Over 60 Sqft
- Porch/Patio/Deck: Wrap Around
Location
- County: New York
- Subdivision: Upper East Side
- Building Name: 988 5Th Ave Condo
Community
- Pets Allowed: Yes
Structural Information
- Structure Type: High Rise
- Basement Desc.: Other
- Stories/Levels: 15
- Year Built: 1925
- Other Struct. Feat.: Storage
Lot Features
- Property View: City Lights, City, Park/Greenbelt, Panoramic
- Zoning: R10
Financial Considerations
- Association Fee: $7,384
- Assoc Fee Freq.: Monthly
Disclosures and Reports
- Special Conditions: Standard
- Block: 1491
- Lot Number: 1413
Listing Courtesy of Corcoran Group
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Schools
Schools serving 988 5th Ave #PH
School District:New York City Geographic School District 02
| Name | Grades | Distance |
|---|---|---|
Ps 6 Lillie D Blake 45 East 81st Street, New York, NY 10028 | K-5 | 0.1 mi |
Jhs 167 Robert F Wagner 220 East 76th Street, New York, NY 10021 | 6-8 | 0.5 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 988 5th Ave #PH
Date
Details
Price
Change
Source
5/20/2026
Listed
$27,950,000
5491.12%
MLS
5/11/2004
Sold
$499,900
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 988 5th Ave #PH
Year
Property Taxes
Change
Tax Assessment
Change
2025
$31,390
—
$259,209
3%
2025
$31,390
1%
$251,124
1%
2024
$31,175
—
$249,361
—
2023
$31,294
4%
$250,308
2%
2022
$30,127
-2%
$245,592
-2%
2021
$30,637
17%
$249,750
-10%
2020
$26,240
3%
$276,624
2%
2019
$25,507
-14%
$270,396
5%
2018
$29,570
4%
$257,598
8%
2017
$28,569
2%
$237,762
2%
2016
$28,036
4%
$232,650
2%
2016
$27,010
6%
$227,340
5%
2015
$25,529
9%
$216,972
4%
2013
$23,406
—
$208,386
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 988 5th Ave #PH
988 5th Avenue #PH, New York, NY 10075 (MLS# RLS20092420) is a Duplex property with 3 bedrooms, 3 full bathrooms and 1 partial bathroom. 988 5th Avenue #PH is currently listed for $27,950,000 and was received on May 20, 2026. Want to learn more about 988 5th Avenue #PH? Do you have questions about finding other Duplex real estate for sale in New York? You can browse all New York real estate or contact a Coldwell Banker agent to request more information.

