$988,000 $995,000
Updated 2 days ago

The Eastlight

501 Third Ave, 5-G

Kips Bay, Manhattan | East 34th Street & East 33rd Street

Studio 1 Bath605 Square FeetCondo Resale

$988,000 $995,000
Common Charges$1,178
RE Taxes$1,097
Price Per SF
$1,633

Listing Features

  • Entry Foyer
  • Hardwood Floors
  • High Ceilings [9']
  • Recessed Lighting
  • Separate Dining Area
  • Surround Sound
  • Walk-in Closet
  • Washer / Dryer
  • Flr-to-Clg Windows
  • Noise Abate Wdws
  • Convection Oven
  • Dishwasher
  • Open Kitchen
  • S Steel Appliances
  • Trash Compactor
  • Marble Bathroom
  • Soaking Tub

Outdoor space and views

  • City Views
  • West Exposure

Building Amenities

  • Full Service
  • Elevator
  • Fitness Facility
  • Grilling Stations
  • Resident Lounge
  • Roof Deck

Policies

  • Pets Allowed
  • Pieds A Terre Ok

Property Description for 501 Third Ave, 5-G

At 605 square feet, Residence 5G is one of the largest studios at Eastlight — and at $1,633/sq ft, it's priced below the building's recent sales average of $1,893/sq ft. For buyers comparing studios in the building, the math is straightforward: more space, better value. The finishes do the rest of the talking. Seven-inch white oak plank floors, a fully integrated Miele kitchen with white marble counters and grey veining, a honed Dream White marble bathroom with Kohler soaking tub, and an in-unit Bosch washer/dryer — a genuine rarity at this price point in Manhattan. The entire 34th floor is dedicated to amenities: fitness center with private training studio, residents' lounge, game room, private dining room, and a sweeping terrace with East River views. Full-time doorman, concierge, and live-in super. Flexible building policies make this one work for a range of buyers — sublets permitted, pied-à-terre allowed, co-purchase and guarantors accepted. Steps from the 4/5/6 at 33rd Street and Grand Central. Under $1M.

Video Walkthrough


Listing History for 501 Third Ave, 5-G

Now
05/31/2026
$988,000 [-$7,000] [0.7%]
Price Drop by Sophia Lin
FIND Real Estate
05/18/2026
$995,000
Initial Price by Sophia Lin
FIND Real Estate

Building Details for 501 Third Ave

OwnershipCondo
Building TypeHigh-Rise
Service LevelFull Service
AgePost-War
AccessElevator
Year Built2022
Financing Allowed90%
Floors/Apts31/144
Learn More About the Building

Transit and Citi Bike

Subway

33 St
0.22 miles
28 St
0.37 miles
Grand Central-42 St
0.43 miles

Citi Bike

E 31 St & 3 Ave
0.14 miles
Lexington Ave & E 36 St
0.16 miles

Ferry

East 34th Street
0.39 miles

Building Availability

APPSF
Median
Average
$1,970
$1,575,000
$1,728,000
$1,952
$1,500,000
$1,479,000
Last 12 months
$1,887
-
-
Last 12 months
$100
-
-

Studio in Kips Bay

APPSF
Median
Average
$1,557
$710,000
$657,750
$1,107
$382,500
$469,700

Kips Bay | Manhattan

Quick Profile

If you take a walk through Kips Bay, which is loosely defined as the area between 23rd street and 34th street and the East River to almost Lexington, you’ll quickly learn it's a hodgepodge of sorts and not as well defined as other neighborhoods in New York City. Some New Yorkers say Kips Bay has an identity crisis because 1st, 2nd, and 3rd avenues are distinctly different from one another as you traverse them. Despite the perceived lack of neighborhood vibe there are others that appreciate its affordability and convenience.  

First Avenue is dominated by hospitals and hospital buildings such as NYU Medical Center and Bellevue Hospital to name a few. Second Avenue is a mosaic of convenience stores, fast food joints and nondescript brick buildings. Third Avenue is saturated with small bars and gastropubs and the twenty somethings that patronize them. 

No judgement against Kips Bay here. It’s a great neighborhood that is just as much a part of New York City as any other neighborhood. Kips Bay It’s bordered by Murray Hill to the North, Stuyvesant Town and Gramercy Park to the South, and Rose Hill to the West. The neighborhood is partly defined by newer high-rise apartments, brick rowhouses, and former tenement buildings. 

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.
OLR ID: 1957964