Kips Bay Towers

i agree with you...what's interesting is their studios are listed for $550k..that's high even in the best market but they're stilling looking for that price.

Well, I always thought it was serving its purpose. Namely, it separates us from the chaotic "hussles and bustles" around NYU Med Ctr. and FDR.

Now I think of it, though, the entire block reminds me of Queens (around Queens Plaza?), with big projects-like nondescript bldgs. and fake greens. A friend rents a unit there, and I remember feeling VERY claustrophobic in his apt. because of the ceilings that couldn't have been more than 7.5 feet in height...

So, yes, I guess the bldg. is icky.

They look like they were teleported here from the Soviet Union. Aside from that they are great buildings. They sit on 5+ acres and most of it is a private common park/garden, the largest in Manhattan I've been told. I've been in a one bedroom and a two bedroom and they were both huge, much larger than average. The buildings are amazingly run and are constantly being improved: new fitness center just opened, solar panels on roof, renovation of lobby and common space, etc.

Big apartments, on site play areas, reasonably priced parking for residents...and PS 116. A familly, especially with connection to NYU Med/Bellevue/VA could do alot worse. Pricing has always been above market I think that's because they had "amenities" before the word was part of every listing.

The park is great for children. It is huge, safe and it is clean and very well kept. A great space like this more than makes up for the ugly building. The one beds are large and most easy convert to 2 beds. When you are inside looking out who cares...

disclaimer - I dont live here but I have a young relation that does....

The folks who knock these buildings have never been inside and have no clue what's there. It's a gigantic private park!... they have an outdoor full size basketball court for goodness sake!

That must be delightful to listen to from your apartment.

The basketball court is adjacent to one of the two private parking lots/driveways and is hardly visible from the apartments themselves, so no, noise isn't an issue. In fact, the apartments are all pretty quiet since both buildings are set back from the street at least 100 feet.

It's a gigantic development, so we should anticipate to hear from its friends... Sure, the park's nice to have. I am also sure that many buyers don't really find it aesthetically offensive enough to refrain from buying.

With this said, though, housing projects, too, have parks and basketball courts throughout a series of ugly giant bldgs.--and I don't know if that'll prompt me to move into one. Plus, those ceilings are waaaaaay too low for most people. People complain about the low ceilings in many of the midtown bldgs., but this development is among the worst offenders--BY FAR.

nyc212 said

With this said, though, housing projects, too, have parks and basketball courts throughout a series of ugly giant bldgs.--and I don't know if that'll prompt me to move into one

erm, but they are not enclosed by million dollar apartments. Slight difference methinks.

nyc212: The ceilings are on the low side and it's a deal breaker for you. But comparing a private garden and playground a block away from a top scoring elementary school, to the amenities of a housing project? There are over 1000 units there and only 7 for sale. It seems people enjoy living there.

Everyone: Just as I predicted. Thanks for your "thoughtful" replies, wandered and wyndcliff! Yes, the place sounds wonderful if you are 4'5", have kids under the age of 11, and aren't picky aesthetically.

I've lived in Kips Bay Towers for over 20 years, and a relative over 30 and between my immediate family we have 5 apartments including a studio, a two 1 br a 2 br and a 3br. We all think that there is no better building than Kips Bay Towers. Where in Manahattan do you have a private grounds of nearly 7.5 acres? With regards to the ceilings, I just bought new closet doors and they were 96" tall so the ceilings are just over 8FT tall. As I agree it would be nice to have 14 FT ceilings, 8FT is more than fine and NORMAL for NYC. The building is extremely well managed, no assements for lobby gym or roof renovations. Grounds are beautiful. residents are great. Great neighborhood etc.... I could not recommend the building any more. Apartments are very spacious. studios 450 - 550 sq ft 1 bedrooms 750 - 900 2 bedroom 1100 to 1200 and three bedrooms 1150 - 1350 sq ft.

it reminds me of lincoln towers or stuyvesant town.....housing projects in the old soviet union

I love the place, and I never lived there.
It varies the flow of above-street-level space.
in the otherwise uniform rectangular street grid.
It grew on me when I lived in the area and had a
view of it out my window. I realized that just
passing by it on First or Second Ave. once in a
blue moon I had given it short shrift.

i heard they have crazy amt of building reserves. This probably explains why there was no assesment on the new gym and roof renovation.

The 3 bed estate sale seems way overpriced, over 1k sq ft?

The 3 bed estate sale seems way overpriced, over 1k sq ft?

it is over priced for the building on the 3rd floor.
I'd bet $1,100,000 is the final sale price.

The price takes into account the views, which are of the 5.5 acre private courtyard. It's the 3rd floor, but more like any other 5th floor since the lobby has roughly 20 foot ceilings and there is a 1st floor above. So treetop views from 60 feet of floor to ceiling windows. Those interested in estate condition would probably be interested to know the building allows wet over dry. I live in the building, in the slightly smaller 3 bed line, and recently completed a gut renovation. Please feel free to email me with any questions.

Jason L.
Rutenberg Realty

Three things I love about this building:

1) 820sq.ft. one bedrooms, yes please.
2) $520 common charges for that same one bedroom. Must be the massive underground parking garage generating some great income for the building, smart thinking. I wonder if they'll be installing charging stations for hybrids in the near future.
3) The "Gramercy Park" like outdoor space in between the two buildings.

Two things I don't like:

1) The boring lobby, I believe they are updating it shortly. Can anyone confirm this?
2) The ugly exterior. It's nice to have so much concrete to lessen the noise, but does it have to be so ugly?

Jon Makolondra
DSA Realty

Hey Jon,
Like I mentioned above, I live in the building... and love it!
1) The 1 beds feel huge and they have a ton of closet space.
2) There's the income from the garage, but also the fact that there are so many units... so costs get split among the roughly 1100 units in the two buildings. There are solar panels on the roof which reduce electrical costs. I believe its the largest solar set up of any residential building in Manhattan. The board is very proactive about efficiency and costs.
3) The garden is amazing. It's actually larger than Gramercy Park, and unlike Gramercy, is usable. There are areas for picnicking, sunbathing, ball playing, etc. There's a full size basketball court, a children's playground, and a separate playground for toddlers. There's tons of outdoor tables and chairs which can be arranged however you like for picnics and parties, etc. You can Google satellite to get a sense of it but it doesn't do it justice.

As for your cons:
1) The lobby is currently being updated in stages. They have installed new front desk areas which are being evaluated, there are new mailboxes with an electronic display indicating any package deliveries (I prefer the email notifications), and new rugs were installed just last week. I think the plan is to keep and clean the floor tile and stone on the walls, and replace lighting. Other common areas like the elevators and hallways have all been renovated.
2) I agree with you. In addition to reducing noise the concrete also reduces glare (on the floor to ceiling windows). It doesn't help that there's a mishmash of window treatments. The I.M. Pei pedigree makes me feel better about it, and in the end, I'm on the inside looking out or out in the courtyard enjoying the garden views.

A couple other plusses:
1) The valet center in each building offers dry cleaning and tailoring service which is very convenient. You can also sign up for maid service (which I haven't tried).
2) There's a new fitness center which you can join for a nominal fee.

Jason L.
Rutenberg Realty

I am a doc ay NYU and every time I walk buy this building I always thought it was the dormitory for the med students/residents. Who know it was a luxury condo from the outside.

I've lived here my whole life, and I always thought the buildings look really nice, not individually, but coupled together, surrounded by greenery, and juxtaposed with the surrounding uniformity of the city. I can see why people think it looks like a housing project, but they're wrong. Housing projects are all about conformity of image, whereas Kips Bay Towers is all about standing out. It always felt like a separate world to me, but hey, I'm biased

The ceiling height at KBT is 8'2" thats what it measures in my apt. 95% of all luxury coops and condos built after 1960 are 8'to 8' 4". There is air space between the apt walls. Dont hear nextdoor noise. Extreemly rare in all construction. Lobby, elevators, halls and basement all immaculate.. All windows are washed twice a year (outside).. Full concierge service available, maids, laundry, dry cleaning. Newly renovated laundry rooms. Fully equipped gym. Pvt basketball court , children's playground in park setting. Unbelievably low maint-common charges. 24hr doormen. TBC..

The maintenance and property taxes in this building don't seem to be scaling properly; does anyone know why this is?

Just looking at three units selling now:

475 SF unit, $249 in common charges and $245 in taxes
755 SF unit, $531 and $615
1100 SF unit, $716 and $700

Upgrading from the studio to the spacious 1BR causes your monthlies to more than double from the studio's reasonable rates. More walls/piping? I can't figure it out. And then moving up again, you're getting almost the square footage of the 1BR and the studio combined, yet your taxes only go up by $85.

The PCI goes up by floor, but you're comparing a 1st-floor two-BR to a 16th-floor 1-BR.

On a given floor, studio:1BR:2BR are roughly in the ratio 3:5:7 in size, varying by how much of the width goes all the way from window to corridor.

For PCI, ratio is more like x:x+y:x+2y, where x is more than 1.5y.