515 E 72nd St

515 E 72nd

When it was first constructed in 1986, 515 East 72nd Street was a rental building known as River Terrace Apartments, named for its setting almost directly on the East River. Developed by Harry Macklowe, the Lenox Hill tower contained 408 units, with many featuring private balconies overlooking the water. After Macklowe offloaded the 41-story building in the early 2000s, the new owners spearheaded a conversion to condominiums, tapping architecture firm Acheson Doyle Partners (ADP Architects) to build out a lavish amenity package and take the number of units down to 326. Today, brown-brick building is only known by its street address and features a wealth of uncommon perks such as a private spa, rock-climbing wall and Olympic-size saltwater pool. “People buy here for a number of reasons, but I would say first and foremost are the amenities,” says Compass broker David Margolies, who recently listed a 40th floor unit for $2.65 million. “The floor plans also are quite generous, with large room sizes — and having a garage just below the building is great for those who need parking or may have a second home upstate or on Long Island.” In 2006, ADP Architects oversaw the conversation of the building into condominium units and partnered with Bonetti/Kozerski Architecture for the interiors of the residences on the building’s top ten floors. (The full-floor penthouse as well as the remaining homes were handled by ADP.) Among the upgrades, Bonetti/Kozerski swapped dated appliances for modern ones and installed sustainably harvested walnut flooring, custom cabinetry, marble countertops and bathrooms sheathed in sandstone and limestone. Homes range in size from one-bedrooms to four-bedrooms, with a few larger combination units available from time to time. Prices for a 700-square-foot one-bedroom unit start at $950,000 and go all the way up to $3.75 million for a combination four-bedroom home. Monthly common charges for the one-bedroom stand at $1,162, while the four bedroom carries a monthly fee of $4,209. This does not include a monthly assessment of around $1,120, in place until April 2026 due to a recent lobby and hallway renovation by The Switzer Group, as well as Local Law 11 work on the exterior. “In the lobby, they removed a water display that was a bit onerous to walk around, and they added in accents of Onyx color throughout each entry way to the elevator banks and at the reception desk,” explains Margolies. “Additionally, purchases can really be made in any format, which really is advantageous when one wants to resell in the future.” Besides the 24-hour concierge, doorman and porter, 515 East 72nd contains a multitude of on-site amenities, not least of which is a half-acre garden with a central lawn that’s billed as the largest private green space in Manhattan. The building’s 2006 update saw the construction of a massive fitness center that includes a rock-climbing wall, workout machines and equipment, an exercise room programmed by trainers, a multi-purpose sports court, a 56-foot-long heated indoor pool and two Jacuzzis. There’s also a residents-only Elements Spa in the building that offers a full range of treatments including massages, facials and manicures. An on-site art studio hosts regular group classes and can also be rented by residents for private events, while cooking and nutrition classes are offered in the kitchen. “The staff is also incredible; they really are like family and go out of their way to treat every resident with the utmost care,” adds Margolies. A parking garage, two children’s playrooms and a 24-hour coffee bar where breakfast is served during the work week round out the amenity package. Proximity to the East River and major medical hubs such as the Hospital for Special Surgery and Cornell Medical Center are some of Lenox Hill’s defining characteristics. The building is located on a dead-end block of 72nd Street punctuated by a cul-de-sac and plaza that has benches overlooking the river and Roosevelt Island. If residents tire of their private green space located on site, they have easy access to John Jay Park a few blocks away, on 76th Street, which has a pool, playground and basketball courts. The headquarters for Sotheby’s auction house is across the street and often has various gallery displays open to the public. In terms of practical amenities, the nearest grocery store is the Morton Williams on 1st Avenue and 71st Street, two blocks away. Family-run retailer Grace’s Marketplace, located on 2nd Avenue, is more upscale option that carries gourmet items and prepared foods. York Avenue, the closest major thoroughfare, has a few restaurants serving Japanese and Italian food, as well as some fast-casual spots catering to hospital workers. But better options can be found on 1st and 2nd avenues, such as Mission Ceviche, which was included in the 2024 Michelin Guide. The building is less than a 10-minute walk to the 72nd Street subway entrance of the Q train, which takes riders into Midtown Manhattan and all the way to Coney Island in Brooklyn. A few blocks further is the 68th Street station where the 4 and the 6 trains stop as well. The M31 bus travels up and down nearby York Avenue, stopping at 72nd Street, as well as to Midtown West, while the M72 also stops on York and 72nd before heading to the Upper West Side. “Additionally, the building is located on a cul-de-sac, which makes it very quiet with little traffic, and quite easy to grab a taxi or Uber when needed,” says Margolies.