The Bellemont Sold Out at Sponsor. Resale Inquiries Welcome.
Overview
The Bellemont at 1165 Madison Avenue is among the most exclusive residential addresses in Manhattan — a 13-story boutique condominium with just 12 residences in the heart of Carnegie Hill. Developed by Naftali Group with architecture by Robert A.M. Stern Architects and interiors by Italian designer Achille Salvagni, the building achieved a total sellout of $235 million across its 12 units, with the Penthouse C quadruplex selling for $67.8 million — setting the record for the highest price per square foot above 59th Street on the Upper East Side.
The interiors by Achille Salvagni bring an Old World grandeur that is rare in new Manhattan construction: 13 to 14-foot ceilings, 28-foot living rooms, 23-foot entry galleries, and oversized arched windows overlooking Madison Avenue. The half-floor, full-floor, and duplex/quadruplex penthouse configurations ensure that every residence feels like a private home rather than an apartment. Gas fireplaces and private terraces in select units complete the picture.
Our team considers The Bellemont one of the most significant new residential buildings on the Upper East Side in the last decade. The combination of RAMSA's hand-laid Indiana limestone facade, Salvagni's museum-quality interiors, and the extreme exclusivity of just 12 residences creates a product that has no real comparable in the current market. The building is sold out, but resale opportunities are among the most coveted in Manhattan.
The Bellemont at a Glance
1165 Madison Avenue, New York, NY 10028
Naftali Group
Robert A.M. Stern Architects
2023
12
13
Condominium
Carnegie Hill
Why Buyers Choose The Bellemont
The Bellemont represents the pinnacle of Manhattan boutique luxury.
Only 12 Residences
Extreme exclusivity.
$67.8M Penthouse Record
The highest price per square foot above 59th Street validates the product.
Achille Salvagni Interiors
13-14 foot ceilings, 28-foot living rooms — museum-quality.
RAMSA Limestone Facade
Hand-laid Indiana limestone on Carnegie Hill's Madison Avenue.
Our Take on The Bellemont
The Bellemont is the kind of building that redefines a neighborhood's pricing tier. Twelve residences, a $235M total sellout, and a $67.8M penthouse record — these numbers tell the story of a product that found its market and exceeded expectations.
The Salvagni interiors are genuinely extraordinary. The 13-14 foot ceilings and 28-foot living rooms create spatial volumes that feel more like a private palazzo than a Manhattan apartment. RAMSA's limestone facade is flawless. And Carnegie Hill's combination of Museum Mile access, Central Park proximity, and residential calm is ideal for this buyer profile.
The building is sold out, so opportunities are limited to resale. When units do appear, they command significant premiums. This is not a building for bargain hunters — it is for buyers who understand that extreme exclusivity and museum-quality design hold their value.
International Buyers Welcome
Foreign nationals can purchase condominiums in Manhattan with no visa or residency requirements. Many international buyers use LLCs for privacy and estate planning. Manhattan Miami specializes in guiding international buyers through the acquisition process, from financing options to closing procedures.
Read Our International Buyer Guide →About The Bellemont
Explore luxury condos in New York City or view Billionaires' Row for ultra-luxury developments. For international buyers, see our NYC guide for foreign purchasers.
The Bellemont is a residential building at 1165 Madison Avenue in Carnegie Hill, Manhattan. Its architectural identity is associated with Robert A.M. Stern Architects. The development team includes Naftali Group. The building was completed or delivered in 2023. The residential collection contains approximately 12 homes. The building rises 13 stories.
The building-specific features highlighted in the current profile include Only 12 Residences, $67.8M Penthouse Record, Achille Salvagni Interiors, RAMSA Limestone Facade. These distinctions help explain how The Bellemont competes with other luxury properties in Carnegie Hill, but their value varies by residence, exposure and condition.
The amenity and service program includes areas organized around Squash & Basketball Court, Theater Room, Communal Roof Terrace, Fitness & Recreation, Social. Buyers should confirm which facilities are currently operating, whether reservations or fees apply, and how staffing and amenity costs affect monthly carrying charges.
For a purchase at The Bellemont, the most important due-diligence items are the exact floor plan, natural light and exposure, view protection, renovation condition, taxes, common charges or maintenance, building financials and any transfer or sponsor-related costs. The $16,500,000 price guidance shown for the building is only a starting reference and should not be treated as a valuation for every residence. Current closed-sale evidence and directly comparable active units should guide negotiations.
The Carnegie Hill setting connects the building with nearby destinations including Museums, Guggenheim, Cooper Hewitt, The Met. The practical value of the location depends on the buyer's daily routes, preferred parks, dining and cultural access, and tolerance for neighborhood activity.
Unparalleled Living
Hand-laid Indiana limestone facade by RAMSA
Achille Salvagni–designed interiors with 13–14 foot ceilings
28-foot living rooms with oversized arched windows
Custom kitchen with museum-quality Salvagni finishes
Expansive master suite with Central Park views
Private residents’ amenity spaces
Wellness and lifestyle amenities
Residence Collection
Half-Floor Residence
3,500 – 4,500 SF
- 13–14 foot ceilings
- Achille Salvagni interiors
- Oversized arched windows
- Gas fireplace
- Private elevator landing
Full-Floor Residence
4,500 – 6,000 SF
- Full-floor layouts
- 28-foot living rooms
- 23-foot entry galleries
- Multiple exposures
- Private terrace in select units
Penthouse Collection
6,000 – 10,000+ SF
- Quadruplex penthouse configuration
- Record-setting $67.8M sale
- Private rooftop terrace
- Museum-quality Salvagni finishes
Residences from $16,500,000
World-Class Amenities
Squash & Basketball Court
A regulation squash court that doubles as a half basketball court — a remarkable amenity for a 12-unit building.
Theater Room
A private screening room for residents.
Communal Roof Terrace
A landscaped rooftop terrace with Central Park and city views.
Fitness & Recreation
- Regulation squash court
- Half basketball court
- Holistic fitness center
- Stretching and yoga area
Social
- Theater room
- Communal roof terrace
- Nautical-themed children's playroom
- Attended lobby
Services
- 24-hour concierge
- Full-time doorman
- Package management
- Private storage
Kitchen
- Achille Salvagni-designed kitchens
- Premium appliance suite
- Natural stone countertops
- Custom millwork
Bathrooms
- Salvagni-designed spa bathrooms
- Natural stone throughout
- Radiant heated floors
- Freestanding soaking tubs
Living Spaces
- 13-14 foot ceilings
- 28-foot living rooms
- 23-foot entry galleries
- Oversized arched windows
Building
- Hand-laid Indiana limestone facade
- Intricate metalwork entry doors
- RAMSA architectural design
- 13-story boutique scale
Outdoor
- Communal roof terrace
- Private terraces in select units
- Madison Avenue frontage
- Carnegie Hill location
The Visionaries
Naftali Group
Developer
Robert A.M. Stern Architects
Architecture
Achille Salvagni
Interior Design
Carnegie Hill
Carnegie Hill is the Upper East Side's most refined residential enclave.
Museums
Museum Mile.
Parks
Central Park.
Shopping
Madison Avenue.
Transit
Express subway.
Compare The Bellemont to Nearby Buildings
Buyers considering The Bellemont typically also evaluate these buildings
Frequently Asked Questions
What is The Bellemont?
The Bellemont is an ultra-exclusive 13-story condominium at 1165 Madison Avenue in Carnegie Hill with just 12 residences. Designed by RAMSA with Achille Salvagni interiors, it achieved a total sellout of $235 million.
What was the record penthouse sale?
Penthouse C, a quadruplex, sold for $67.8 million — setting the record for the highest price per square foot above 59th Street on the Upper East Side.
Who designed the interiors?
Italian designer Achille Salvagni created the residential interiors, bringing 13-14 foot ceilings, 28-foot living rooms, and 23-foot entry galleries with an Old World grandeur.
Is The Bellemont sold out?
Yes, all 12 residences have been sold. Resale opportunities are among the most coveted in Manhattan. Contact Manhattan Miami for any available units.
What are the ceiling heights?
Residences feature 13 to 14-foot ceilings throughout, with 28-foot living rooms and 23-foot entry galleries that create exceptional spatial volumes.
How does it compare to other Naftali buildings?
The Bellemont is Naftali Group's most exclusive project, with just 12 units versus 62 at 255 East 77th or 86 at 200 East 83rd. The $67.8M penthouse and $235M total sellout from 12 units demonstrate the ultra-luxury positioning.
Private Availability at The Bellemont
For current availability, pricing history, floor plans, and off-market opportunities at The Bellemont, request a confidential review with our advisory team.
1165 Madison Avenue, New York, NY 10028
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Manhattan Real Estate Market Intelligence
Market Context: Manhattan luxury condominium pricing is segmented by sub-market. The Billionaires’ Row corridor (57th Street, between Park Avenue and Columbus Circle) carries the highest price-per-foot in the United States, with trophy residences trading $4,000-$10,000+ per SF. Downtown Manhattan (Tribeca, West Village, Soho) has its own ultra-luxury tier driven by limited supply of new development. Upper East Side and Upper West Side condo medians sit materially below downtown trophy levels but offer larger floor plates and Central Park access. Pricing in Manhattan is sensitive to interest rates, mansion-tax brackets, and the offering-plan stage of any given building.
Sponsor-direct new development in 2026 includes 80 Clarkson (West Village), 255 East 77th (Upper East Side), 140 Jane (West Village), 1122 Madison (Carnegie Hill), and Mandarin Oriental Fifth Avenue. Completed buildings with sponsor inventory remaining include Central Park Tower, 220 Central Park South, 53 West 53, 111 West 57th, and 50 West 66th. Each carries a distinct sponsor history, construction lender, offering-plan amendment cadence, and 421-a or other tax-abatement status that must be diligenced individually.
Why This Matters: Manhattan’s structural inputs include the New York Attorney General-supervised offering plan process (provides buyer-side procedural protection not available in less-regulated markets), the depth of the resale market (high liquidity at exit), and constrained near-term supply (limited zoning capacity in core sub-markets). Risks to underwrite at contract: mansion-tax bracket inflation above $2M, transfer-tax assumption by buyer on sponsor sales, lot-line and view-corridor exposure on specific lots, condo board sublet and resale policies, and 421-a phase-out schedule where applicable. Status of any individual project, sponsor inventory level, AG offering plan amendment, pricing, or sales percentage should be verified at the time of inquiry.
Key Facts
- Trophy Manhattan condo $/SF range: $1,500-$10,000+
- Billionaires’ Row average $/SF: $4,000-$10,000+
- Downtown trophy (Tribeca/West Village) $/SF: $2,500-$6,000+
- Mansion tax: 1% above $1M, graduated brackets above $2M for buyer
- Typical sponsor contract deposit: 10%-20% at signing
- Standard buyer-attorney review window: 1-3 business days from contract delivery
- Sponsor-side commission: developer pays buyer agent on sponsor sales
- Tax-abatement programs (where applicable): 421-a, J-51, status verified building-by-building
- Foreign-national LLC ownership: common, structured at contract
Buyer Procedure
Manhattan sponsor-sales procedure: reservation form → offering plan delivery → buyer attorney review → contract execution and initial deposit → mortgage commitment (if financed) → closing at delivery. Sponsor-inventory and resale procedures differ; advisory pre-tour planning is recommended.
Manhattan Real Estate FAQs
What is the New York Attorney General offering plan?
The offering plan is the legal document filed with the New York Attorney General that governs the sale of every Manhattan condominium. It defines deposit handling, unit specifications, common charges, real estate taxes, sponsor obligations, and buyer protections. No Manhattan condo sale closes outside the framework of an accepted offering plan; amendments are filed periodically and reviewed by buyer attorneys at contract.
What is sponsor inventory?
Sponsor inventory refers to unsold units still held by the building’s developer (the “sponsor”). Sponsor units are brand-new, never lived-in, and may include negotiable pricing, closing-cost credits, and access to tax-abatement programs where the building has them. Sponsor-side transactions follow the offering plan, not the standard resale contract.
What tax abatements apply in Manhattan?
421-a is the most common Manhattan condo abatement, providing reduced real-estate-tax exposure for 10 to 25 years on qualifying new developments. J-51 applies to specific rehabilitated buildings. Each abatement has a phase-out schedule and building-specific qualification status that must be verified in the offering plan and the most recent tax certificate.
What closing costs apply on a Manhattan condo?
Typical buyer-side closing costs run 2% to 4% of price, including NYC and NYS transfer taxes (often assumed by buyer on sponsor sales), mansion tax (1% above $1M with graduated brackets above $2M), title insurance, buyer attorney fee, mortgage recording tax if financed, and prorated common charges and real estate taxes.
Are common charges the same as HOA fees?
No. Manhattan condos use the term “common charges,” not HOA fees. Common charges fund building operations, staff, amenities, and reserves. Real estate taxes are billed separately by NYC and are not part of common charges.
How does Manhattan Miami get paid on Manhattan transactions?
On sponsor-side new development purchases, the developer pays Manhattan Miami’s buyer-agent commission. Buyer representation is at no out-of-pocket cost to the buyer. On resale transactions, commission arrangements are disclosed at engagement.