The Treadwell: 249 East 62nd Street Condo in Lenox Hill

The Treadwell is a 28-storey, roughly 347-foot condominium at 249 East 62nd Street, developed by Zeckendorf Development and DART Interests and completed in 2024.

Its 66 residences sit beside the row houses of the Treadwell Farm Historic District, on a site that once carried a far taller and more controversial proposal. Here is what the building is and what buying there involves.

1. What the Building Is

The Treadwell stands on East 62nd Street between Second and Third Avenues in Lenox Hill. INC Architecture & Design produced the Art Deco inspired design, with SLCE Architects as executive architect, for Zeckendorf Development and DART Interests. The press describes it as 28 storeys and about 347 feet tall; the city's planning data record 26 floors, a difference in how floors are counted.

There are 66 residences, from studios to three bedrooms with two to four apartments per floor, topped by a full-floor penthouse with a great room and terraces to the north and south. The city's tax roll lists 66 residential condominium units and one commercial unit.

The lot itself is outside any historic district, but neighbouring row houses on the same block lie in the Treadwell Farm Historic District, which gives the building its name and helps keep the low-rise street character around it.

The location is on Google Maps.

2. From Tower on Stilts to Art Deco Setbacks

The site first drew attention in 2018, when Rafael Viñoly Architects designed a tower for Real Estate Inverlad and Third Palm Capital that used mechanical voids to lift residences higher; opponents called it a tower on stilts. The building that was finally built is about 200 feet shorter than that proposal.

Department of Buildings drawings for the current design show a low-rise leg along 62nd Street with setbacks at the eighth floor and near the top, a massing that echoes prewar towers. Ask which apartments open onto the setback terraces and who is responsible for their waterproofing.

Billy Cotton designed the interiors of the model residences. Ask which finishes are standard in a given apartment and which were upgrades added for the models, because the two are easily confused during a viewing.

Ask which exposures a given apartment has, since lines facing 62nd Street and those facing north differ in light and outlook.

3. Amenities and Location

Residential amenities are concentrated on the first two levels, which keeps the upper floors entirely residential. They include a double-height lobby, a fitness centre, a sauna and steam room, a children's playroom, a lounge and a private landscaped courtyard, along with a pet spa and resident storage.

With 66 homes sharing those spaces, the amenity load per owner is moderate. Ask how the courtyard and lounge can be reserved, and how the reserve fund has been built since the first closings in a building with a short operating history.

The F train at Lexington Avenue and 63rd Street is about a fifth of a mile away, and the N, Q, R, 4, 5 and 6 trains at Lexington Avenue and 59th Street are similarly close.

Ask for the first full year of actual operating costs rather than the sponsor's original budget.

4. Buying Here as an Overseas Purchaser

The Treadwell is a condominium, so there is no co-op board interview, and boards typically hold only a right of first refusal; ask for its waiver in writing. Where the sponsor still owns unsold units, read the offering plan amendments to see how many remain and how they are being marketed.

At closing the buyer pays New York's mansion tax on residential purchases of $1 million or more, charged on the whole price at graduated rates from 1% between $1 million and $2 million up to 3.9% at $25 million and above. On a later sale by a foreign owner, FIRPTA withholding of 15% of the gross price applies unless an IRS withholding certificate reduces it.

A non-resident who is not a US citizen has only a $60,000 US estate tax exemption on US-situs assets unless a treaty provides more, so decide between personal ownership, an LLC or another structure with tax counsel before contract, not after.

Settle structure and financing first, then make the offer.

Recorded Sales: What the Public Record Shows

NYC's Department of Finance records every sale with its address and price. Between January 2023 and September 2026 it recorded 64 sales of apartments at The Treadwell, at a median price of $2.75 million. Half of them closed between $1.88 million and $3.87 million; the highest was $8.45 million.

A median across a whole building mixes small and large apartments, low floors and high ones, so it describes the building rather than any one residence. Use it to see how often apartments here change hands and where the building's prices sit. Price a specific apartment from recorded sales on the same line and floor range, which can be pulled from the deed records before you make an offer.

These are recorded deed prices, not asking prices, and none of them is a Reinvent NY transaction. A sale appears in the record weeks after closing, and a deed price can include a parking space or storage unit bought at the same time.

Final Thoughts: A Tower Shaped by Its Block

The Treadwell offers a new condominium beside a historic district, with Art Deco inspired setbacks, a compact amenity programme and quick access to the F, N, Q, R and Lexington Avenue lines.

The trade-offs are those of any recent building: a short operating record, a budget still settling into real costs and possibly some sponsor-held units. None of this is a reason to pass, but each belongs in the diligence.

Price a specific apartment from recorded sales on the same line and floor range rather than a building-wide average, then read the offering plan, the latest financial statements and the board minutes before committing.

Request the offering plan and recent financials before you schedule a viewing.

Figures here describe the building, not any one apartment. Asking prices, monthly carrying costs, tax abatement status and sublet rules are established unit by unit from the offering plan, the most recent financial statement and the managing agent.

Reinvent NY Inc. provides real estate and business expansion consulting in New York. This article is for informational purposes only and does not constitute legal, tax or investment advice.

Neighbourhood guide: Upper East Side.

More buildings worth knowing: 212 West 72nd Street, 100 Eleventh Avenue, 111 West 57th Street. The full set is indexed under New York building profiles.