The 16-story apartment building at 1200 Fifth Avenue on the northeast corner at 101st Street is being converted to condominiums by Joseph Nakash, Joseph Chetrit, Lloyd Goldman and Mann Realty who acquired the property in 2004 for about $61 million from the Mount Sinai Medical Center.

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.

A sales office has opened for the building and occupancy is expected in the fall.

The building has studio apartments with prices 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 is priced at about $14,500,000.

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 doorman. When the conversion is completed apartments will have single-pane picture tilt-and-turn windows and central air-conditioning and heating.

The building will also have a private fitness center, individual storage units, a bicyle room, a 24-hour concierge, heated limestone floors in the bathrooms, and and Sub-Zero, Miele and Wolf kitchen appliances.

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 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 had 59 apartments when it was sold in 2004 about half of them were occupied by tenants covered by rent control and rent stabilization.