641 5th Avenue #38F, New York City, NY 10022
Listing Courtesy of Compass
$2,325,000
Potential Rebate: $34,875
Overview
Enjoy stunning, south-facing views of the iconic Empire State building and New York City skyline, as well as a fantastic layout in this generously sized 1 bedroom, 1.5 bathroom home. There is glorious sunlight shining through the expansive floor-to-ceiling windows by day and a magical evening view of the lit up skyline by night. The grand entryway leads to the extra wide living room where there is plenty of room for dining, lounging and a home office. The well-designed kitchen has been opened to the living room, allowing for counter seating. It is well equipped with Sub-Zero fridge and freezer drawers, a Viking oven and stovetop, a wine cooler and great storage. The bedroom suite is an absolute dream. It provides the luxury of space with plenty of room for a seating or desk area. There are custom closets throughout as well as a dressing area with a lovely mirrored vanity. The primary bathroom is beautifully renovated with a spacious walk-in shower and fantastic stonework. This special apartment also has the convenience of a separate half bathroom for guests, a washer/dryer and custom curtains and shades. Olympic Tower is one of the premier full–service condominiums in New York City. The staff goes above and beyond with concierge services, privacy and security. Additional amenities include a park view gym, bike room and an additional laundry room. Centrally located, Olympic Tower is across the street from Rockefeller Center and St. Patrick’s Cathedral. Nearby you will find fine dining, some of the best shopping the city offers, museums, the theater district and multiple transportation options. Dogs are not allowed and there is a 1% flip tax to the buyer.
Home Features
- •Common On Floor
- •Common Area
- •Valet
- •Dryer
- •Washer
Building Amenities
- •Valet
Estimated Monthly Payment
$15,987 per month
30 year fixed, 6.28% Interest
Estimated Rebate for this Home
One-time rebate at closing
$34,875
Monthly savings impact
$97/mo
💡 Estimated at 1.5% of purchase price
The rebate is paid to you at closing and can help offset closing costs or other expenses.
Calculator Disclaimer: This calculator provides estimates for informational purposes only. Actual monthly payments, interest rates, taxes, and rebate amounts may vary. The rebate calculation is an estimate and subject to final terms. This information is not provided by the Real Estate Board of New York (REBNY).
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Listings
RLS IDX Data display by Real Estate Rebate Team. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.
The Real Estate Rebate Team
Listing Courtesy of Compass
Data Source: TRESTLE #RLS20050464
Price Analysis
Compare average listing prices and value metrics for 641 5th Avenue against the surrounding Midtown East market.
Average List Price
Price Per SqFt
0.26% Higher
than the Midtown East price-per-sq-ft average
This building commands a premium compared to the neighborhood baseline. This typically indicates superior amenities, newer construction, or prime positioning within Midtown East.
Midtown East
Overview of Midtown East
Midtown East is one of the most dynamic and accessible neighborhoods in Manhattan, offering a unique blend of corporate power, diplomatic significance, and residential luxury. Located in the heart of New York City, this area encompasses landmark districts like Turtle Bay, Sutton Place, and the United Nations corridor. For those considering Midtown East Manhattan real estate, the neighborhood presents a compelling mix of convenience and prestige.
Living in Midtown East, Manhattan means being at the center of the world's commercial activity while enjoying surprisingly quiet residential pockets. The area is defined by its iconic skyline, featuring the Chrysler Building and the MetLife Building, yet street level reveals a different character with tree-lined blocks, pocket parks, and diplomatic missions. It is a true Manhattan NYC neighborhood that serves as a global business hub by day and a sophisticated residential community by night.
Real Estate & Housing Market
The market for homes for sale in Midtown East is diverse, ranging from post-war luxury co-ops to stunning pre-war condos. Real estate here often attracts professionals who want to eliminate their commute, as well as diplomats and foreign buyers drawn to the proximity of the UN. You will find a significant number of full-service buildings with doormen, gyms, and concierge services, making it a high-convenience options for busy urbanites.
Investment potential in Midtown East remains strong due to its central location and the ongoing East Midtown Rezoning, which is modernizing the office stock and bringing new energy to the area. Whether you are looking for a pied-à-terre near Grand Central or a sprawling family apartment in Sutton Place, the housing stock offers value compared to the soaring prices of downtown Manhattan.
Lifestyle & Community
The lifestyle in Midtown East is one of unparalleled convenience. Residents enjoy a walkable community with everything from Michelin-starred dining to essential services like Whole Foods and Morton Williams within blocks. The area has a more polished, established feel than the trendy downtown neighborhoods. It is less about nightlife/clubbing and more about sophisticated dining, rooftop lounges, and cultural institutions.
Community life is influenced by the international presence of the United Nations, giving the neighborhood a cosmopolitan flair. You will hear diverse languages and find diverse diplomatic residents. Weekends are noticeably quieter than weekdays, giving residents a chance to reclaim their streets and enjoy a more relaxed pace of life in the big city.
Transportation & Accessibility
Midtown East boasts some of the best transportation infrastructure in the entire city. Anchored by Grand Central Terminal, residents have immediate access to the 4, 5, 6, 7, and S subway lines, as well as Metro-North Railroad for easy getaways to Westchester and Connecticut. The expansion of the LIRR to Grand Central Madison has further connected the neighborhood to Long Island and Queens.
Getting around is seamless. The bus network is extensive, with crosstown options on 42nd, 49th/50th, and 57th Streets. For those who drive, the FDR Drive provides quick access to the rest of the boroughs and airports. The neighborhood's walkability to major corporate headquarters on Park and Madison Avenues is a primary draw for residents.
Parks, Schools & Amenities
While often thought of as a concrete jungle, Midtown East offers lovely green spaces. Bryant Park is nearby, and smaller gems like Greenacre Park and Dag Hammarskjöld Plaza provide tranquil retreats with waterfalls and seating. The East River Esplanade offers waterfront running and biking paths with stunning views of Queens and Brooklyn.
Schools in the area include high-performing public options and prestigious private schools. Amenities are top-tier, with world-class gyms, luxury spas, and cultural landmarks like the Morgan Library and Museum nearby. The shopping is unparalleled, from the flagships of Fifth Avenue to the boutique shops of Madison Avenue.
Who This Neighborhood Is Best For
Midtown East is best for corporate professionals, diplomats, and pied-à-terre buyers who prioritize convenience, safety, and building services. It is also an excellent choice for frequent travelers who need easy access to Grand Central.
