# 1487 1st Avenue, Manhattan

Apartment building · 146 units · built 2023 · Block 1452, Lot 27.

On Umarelli: https://umarelli.org/nyc/1014520027/1487-first-avenue

More construction in Upper East Side: https://umarelli.org/nyc/manhattan/upper-east-side.md

## Building permits

- New Building — Tower, filed Jan 24, 2022, estimated cost $30.0M, 146 units, 37 stories, described as “Filing for a new building mixed use residential”
- Alteration, filed Jun 16, 2026, estimated cost $501K, described as “Spear - installation of interior partitons, flooring, ceilings, and finishes. No change in use, egress, or occupancy.”
- Alteration, filed Jan 9, 2026, estimated cost $139K, described as “Filing for retail tenant fitout general construction with related finishes - club pilates”
- Alteration, filed Jun 1, 2025, estimated cost $8K, described as “Installation of pipe scaffolding as per plans. Pipe scaffolding shall comply with chapter # 33 of the 2022 code, no changess in use in egress or occupancy under this application.”
- Alteration, filed Feb 18, 2025, estimated cost $1K, described as “This application is filed for temporary use permit for a sales office pursuant to section ac 28-111 and buildings bulletin 2010-002”
- Alteration, filed Oct 22, 2024, described as “Installation of temporary suspended scaffolds per plan submitted. Work shall comply with 2022 building code chapter 33. No change in use, egress and/or occupancy with this application.”
- Alteration, filed Oct 21, 2024, described as “Installation of temporary suspended scaffolds per plan submitted. Work shall comply with 2022 building code chapter 33. No change in use, egress and/or occupancy with this application.”
- Alteration, filed Jul 24, 2024, estimated cost $2K, described as “Temporary system scaffold as per drawings. System scaffold shall comply with ch #33 of the NYC bc. No change in use, occupancy or egress under this application.”
- Alteration, filed Mar 27, 2024, estimated cost $3K, described as “Temporary overhead protection during NB const, filed sep. Overhead protection shall comply with ch #33 of the NYC bc. No change in use, occupancy or egress under this application.”
- Alteration, filed Feb 16, 2024, described as “Installation of two point suspended scaffold for worker access during new building construction. Two point suspended scaffold shall comply with nycc 2022 chapter 33 . No change in egress, use, or occupancy.”
- Alteration, filed Jan 26, 2024, described as “Installation of multipoint suspended scaffolding in accordance with nycc chapter 33 building code. No change in egress, use, or occupancy.”
- Alteration, filed Jan 11, 2024, estimated cost $1K, described as “Boiler installation in conjunction with New Building application #M00648391-I1”
- Alteration, filed Dec 5, 2023, estimated cost $20K, described as “Equipment use: dual 7000 # capacity personnel/material hoists during NB const, filed sep. Hoists shall comply with ch #33 of the NYC bc. No change in use, occupancy or egress under this application. Elevator application submitted…”
- Alteration, filed Dec 5, 2023, estimated cost $10K, described as “Temporary hoist run-back structure during new bldg construction, filed separately. Hoist run-back structure shall comply with chapter #33 of the NYC building code. No change in use, occupancy or egress under this application. Hoist &…”
- Alteration, filed Oct 26, 2023, estimated cost $2K, described as “Construction fence as per drawings during NB const, filed sep. Construction fence shall comply with ch #33 of the NYC bc. No change in use, occupancy or egress under this application. Dot permits by others for fence installed on…”
- Alteration, filed Oct 26, 2023, estimated cost $3K, described as “Heavy duty sidewalk shed during NB const, filed sep. Sidewalk shed shall comply with ch #33 of the NYC bc. No change in use, occupancy or egress under this application.”
- Alteration, filed Oct 6, 2023, estimated cost $2K, described as “Temporary pipe scaffold as per drawings. Scaffold shall comply with ch #33 of the NYC bc. No change in use, occupancy or egress under this application.”
- Alteration, filed Sep 28, 2023, estimated cost $1K, described as “Concrete placing boom to erect new building”
- Alteration, filed Sep 19, 2023, estimated cost $5K, described as “Use of material platform at 1487 1st avenue during new building construction, filed separately under M00648391”
- Alteration, filed Apr 14, 2023, estimated cost $2K, described as “Temporary roof protection at adjacent property during NB construction, filed sep. Roof protection shall comply with ch #33 of the NYC bc. No change in use, occupancy or egress under this application.”
- Alteration, filed Apr 3, 2023, estimated cost $30K, described as “Installation of temporary manual dry stanpipe system.”
- Alteration, filed Mar 13, 2023, estimated cost $35K, described as “Installation of construction fence for NB construction as per plans. No change in use occupancy or egress under this application. Construction fence shall comply with chapter 33 of the 2022 NYC building code. Provide sound barrier blanket.”
- Alteration, filed Feb 17, 2023, estimated cost $1K, described as “Underground plumbing in conjunction with new building M00648391-I1”
- Alteration, filed Jan 12, 2023, estimated cost $1K, described as “Filing for curb cut in conjunction with new building# M00648391-I1”
- Alteration, filed Nov 2, 2022, estimated cost $3K, described as “Sprinklers/Standpipe work in conjunction New Building # M00648391-I1”

14 more, older permits are in this building’s full list on the map: https://umarelli.org/nyc/1014520027/1487-first-avenue.

## Property taxes

- Assessment: $34,729,650
- 2026–27 tax: $503,692
- Market value (city estimate): $77,177,000
- Taxable value: $4,049,298
- Assessed land: $2,770,650
- Assessed improvements: $31,959,000

## Tax breaks

- 421-a exemption, through Jun 30, 2061, about $3,816,329 a year below the full tax.

## Zoning

C2-8: floor area ratio 21.44 built, above the 10.00 base zoning allows, which bonuses, transfers or older rules can permit.

## Recent sales

- Jan 6, 2022: $73,500,000, sold with other lots

Open-market sales since 2016, from the Department of Finance’s sales files.

## Flood zone

Current FEMA flood map: zone X, minimal flood hazard.

## In the news

[Maison 78’s Exterior Wraps Up at 1487 First Avenue on Manhattan’s Upper East Side](https://newyorkyimby.com/2025/05/maison-78s-exterior-wraps-up-at-1487-first-avenue-on-manhattans-upper-east-side.html), New York YIMBY, May 27, 2025.

From New York City and Jersey City public records, refreshed within a day of each release. Sources: https://umarelli.org/sources. Methodology and corrections: https://umarelli.org/methodology