Milton Coste

Licensed Real Estate Associate Broker

(917) 416-7433

SOLD FOR $488,000

Listed at $499,000 · Sold 2.2% below asking · Closed October 29, 2025

Closed For Sale Co-op

$499,000

$998 per sq ft

385 Grand Street #L502

Lower East Side, Manhattan

MLS® #RLS20012192

RLS at REBNY

Listing by LoHo Realty Inc

Studio

1

Bath

500

Sq. Ft.

1960

Year Built

Quick Summary

Bedrooms Studio
Bathrooms 1
Living Area 500 sq ft
Lot Size 293,600 sq ft
Year Built 1960
Ownership Co-op
Maintenance $756/mo
Neighborhood Lower East Side

Property Highlights

  • Exposure: East facing

Property Details

Type Co-op
Ownership Stock Cooperative
Total Rooms 3
Baths 1 Full
Exposure East
Pets Yes
Year Built 1960
Living Area 500 sq ft
Structure Type MultiFamily
Lot Size 293,600 sq ft
Parcel # 0311-0013-00385-000-000L502
Block/Lot 311/13

Listing History

Event Date Price Change
Listed Mar 27, 2025 $509,000 -
Currently May 1, 2026 $499,000 -2.0%

Description

**All showings – including Sunday Open Houses – are by appointment only. If you are working with another agent, that agent needs to reach out to make the appointment and is required to be present.** Introducing the largest and only studio available in the highly sought-after Seward Park co-op! This spacious studio features expansive double-width windows that bathe the main living area in natural light and offer stunning eastern views. With a simple addition of a wall, this area can easily be transformed into a charming one-bedroom apartment (alternative floor plan included). Adjacent to the living space, you'll find a generous, windowed eat-in kitchen. The wall between the living area and kitchen can be opened to create a convenient pass-through and dining island, or removed entirely for a bright, open loft-like ambiance. This studio also features a large bathroom with full bathtub and original tiling details, three large closets and beautifully refinished parquet floors throughout, enhancing its appeal and functionality. Don’t miss the chance to make this unique space your own! Co-op amenities (please note that additional fees and waitlists may apply) include two private parks featuring playgrounds and a water park, a fully equipped fitness center, and an indoor children's playroom. Residents enjoy the convenience of a 24/7 lobby attendant, a modern laundry room, and on-site maintenance. Additional features include a community garden, composting services, bike storage, a shared workspace, and a community room with a modern kitchen, perfect for hosting events. Located just a short walk from Trader Joe's, Target, Regal Cinemas, and Essex Market, you'll also find Chinatown, Little Italy, and various cultural venues nearby. Subleasing is permitted after two years of ownership, with shareholders required to continue paying base maintenance along with a sublet fee. Dogs are welcome with registration and approval, and in-unit washers and dryers may be allowed pending co-op approval.

Features & Amenities

Interior Features

Building Main Level

Building Amenities

Elevators

Building Information

Building Data View Compliance & Permits
Total Units 893
Stories 21
Structure MultiFamily

Financial Details

Maintenance $756/mo
Original Price $509,000
Sale Price $488,000
Previous Price $509,000

The Lower East Side (LES) is a neighborhood where New York’s storied history meets its high-end future. Known for its legendary nightlife and deep historic roots, the area has seen a dramatic transformation with the arrival of luxury towers like Essex Crossing. The housing stock is a unique mix of historic walk-up cooperatives, value-driven HDFC units, and ultra-modern condominiums that offer some of the best views in Downtown Manhattan.

Lower East Side Live Market Data

View Neighborhood

Active Listings

110

Median Asking Price

$1.28M

Median $/Sqft

$1,400

Avg Days on Market

N/A

New This Week

9

Price Reduced

30%

Sold (30 Days)

4

Median Sale Price

$1.12M

Live data from RLS at REBNY • Updated 5/1/26, 11:44 AM EST

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Location

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385 Grand Street #L502, Lower East Side, New York County

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Building Information

Official NYC property records for this building

1960
Year Built
66 years old
21
Floors
866
Residential Units
R8
Zoning District
Elevator Apartments

Tax & Assessment

Assessed Value: $74,142,450
Land Value: $8,955,000
Exemptions: $1,871,744

Note: Individual unit taxes may differ. Verify current tax bills with NYC DOF.

Lot Area: 293,600 SF
Building Area: 1,025,341 SF
Built FAR: 3.49
Allowed FAR: 6.02

Source: NYC PLUTO (Primary Land Use Tax Lot Output), NYC Department of City Planning (data.cityofnewyork.us)

Want help estimating ownership costs or understanding building compliance? Let's discuss

Frequently Asked Questions

Common questions about this property

The current listed monthly maintenance are $756 per month. Confirm the exact amount with the listing broker before making an offer.

The current listed annual property tax is $0, or roughly $0 per month. Verify the current assessment with your attorney before closing.

This property has 0 bedrooms and 1 full bathroom.

The listed interior living area is 500 square feet. Verify dimensions independently during due diligence.

According to MLS records, the building was constructed in 1960, making it approximately 66 years old.

This listing is a co-op (stock cooperative). Buyers purchase shares in a corporation rather than real property, and the board must approve all sales.

Pets are permitted at this property: Call Listing Agent,Building Pets Allowed Comments:Call Listing Agent. Contact the listing broker for weight limits or breed restrictions.

At the current list price of $499,000 for 500 sq ft, the asking price per square foot is approximately $998. This figure is for reference only and may differ from appraised or assessed values.

To schedule a private showing, contact Milton Coste at (917) 416-7433 or mcoste@kwnyc.com. Per REBNY guidelines effective 2025, a Buyer Representation Agreement is required before a buyer's broker can show you properties. You may attend open houses independently without one.

Have a question not answered here?

(917) 416-7433
MLS® ID: RLS20012192
First Listed: 3/27/2025
On Market: 3/27/2025
Price Changed: 4/30/2025
Closed: 10/29/2025
Contract Date: 3/20/2025

Listing Courtesy of LoHo Realty Inc - Jacob J Goldman

Listing Contact: (212) 388-1115

Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York's Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer's personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing 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. This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.

Broker Commission Disclosure: Broker commissions are not set by law and are fully negotiable.

Buyer Notice: Planning to work with a buyer's broker? A Buyer Representation Agreement is required before your broker can show you properties, per REBNY/UCBA guidelines (effective 2025). You may attend open houses independently without one.

RLS at REBNY

RLS Data display by Keller Williams NYC. Data last updated on 5/1/2026 at 3:44 PM UTC

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