The 16-story apartment building at 1200 Fifth Avenue on the northeast corner at 101st Street was sold by the Mount Sinai Medical Center to Joseph Nakash, Joseph Chetrit, Lloyd Goldman and Mann Realty in July, 2004 for about $61 million.

The building is just to the north of the famous medical center, which had owned the rental apartment building for about three decades.

The building was erected in 1928 and designed by Emery Roth, the architect of such major residential skyscrapers as the San Remo and the Beresford, both on Central Park West, and 870, 880, 993 and 1125 Fifth Avenue.

The new owners of the building began a condominium conversion. The building has 59 apartments and when it was sold in 2004 about half of them were occupied by tenants covered by rent control and rent stabilization. By mid-2006, about a third of the units had been sold with prices for studio units starting at about $760,000, two- and three-bedroom apartments with prices between about $1,400,000 and $4,700,000 and five-and six-bedroom units with prices starting at about $5,500,000. A 10-room penthouse was priced at about $14,500,000 in mid-2006 while a lower-floor 10-room apartment with 3,708 square feet was priced at about $6,634,640.

The building has a two-story rusticated limestone base with a 3-story limestone entrance surround with pilasters decorated with angels. It has a 1-step-up, canopied entrance that leads to a rusticated polished marble vestibule and a large lobby with stained glass windows and a fireplace.

The light beige-brick building has rusticated masonry quoins, inconsistent fenestration, some protruding air-conditioners, sidewalk landscaping, an exposed rooftop watertank and a concierge.

The building has a setback at the 16th floor highlighted by delicate iron fencing and there are attractive window enclosures on the 14th and 15th floors.

The building is across 101st Street from the angled, I. M. Pei-designed, Guggenheim Pavilion of Mt. Sinai Hospital and it is two blocks south of the Museum of the City of New York. It is about a block north of a playground in Central Park and about three blocks south of the park s Conservancy Gardens.

The building will also include a private fitness center, individual storage, a refurbished lobby with refrigerated storage, and bicycle storage. Apartments have 9-and-a-half-foot-high ceilings, electric fireplaces and windowed kitchens with appliances by Wolf, Miele and Sub-Zero and washers and dryers and windowed bathrooms with fixtures by Waterworks, Porcher, Kallista and Toto and heated limestone floors.