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A blog from CityRealty (Links below will take you to the 6sqft site)

The Plaza, 1 Central Park South, #1623

$5,350,000 ($3,598 per ft2) | 2 beds, 2 baths | Approx. 1,487 ft2
49 days on Market

Key Details

  • Listed Sep 7, 2021
    Days on Market 49
    Building Type Condominium
    Neighborhood Midtown West
    Doorman FT Doorman
    Listing viewed 174 times
Monthly Common Charges $15,110
Monthly Real Estate Taxes $3,876
Total Taxes & Fees $18,986 ($12.77/ft2)
Est. Monthly Mortgage $18,045
Total Est. Monthly Carrying Cost $37,031 ($24.90/ft2)

Description

Incredible opportunity to own a piece of New York City History in the Iconic Plaza Hotel! Known as The Vanderbilt Suite, this stunning two bedroom condo is over 1500 sq ft (140 sq m). This sprawling two bedroom corner unit offers beautiful views on to Fifth Avenue and an over-sized living room with an elegant separate dining area nestled into a beautiful rounded corner window.

A fully outfitted butlers pantry and wet bar make this unit perfect for entertaining and the layout makes it feel like a real home. There is a perfectly placed second bathroom in the hallway which doubles as a powder room for guests and is located just across the second bedroom. The gorgeous master bedroom suite also has an over-sized spa-like bathroom featuring a custom claw foot bathtub, separate spa shower and a private WC.

Exquisitely decorated in perfect Louis XV style and complete with two private owners closet. Priced competitively, this is a once in a lifetime opportunity to own a truly unique and spectacular pied-a-terre and income producing property. The owner may rent the suite through the hotel rental management program while not in residence and has the option to use the suite for up to 120 days per annum at the owners discretion.

With an excellent annual net return (based on average 2017-2019 figures), this is an amazing Investment Opportunity and Ideal Pied-a-terre!

Please call for further financial information. The Plaza Hotel which had 804 rooms was converted into a hotel and a residential condo in 2007. The new Plaza Hotel has only 272 rooms which is a reduction of 66%.

This iconic hotel continues to have high demand and now with far fewer rooms the occupancy and rates are quite high which greatly benefits the condo hotel owners.

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Apartment Amenities

  • Washer/Dryer in apt.

Similar Apartments Nearby

 

Pricing History

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About The Plaza, 1 Central Park South

99

The Plaza, 1 Central Park South has received a CityRealty Rating of 99, based on:

 
Architecture

Anything above 30 is remarkable, from 20-29 is distinguished and from 11-19 is average, while below 11 is below average.

 
Location

Anything above 27 is remarkable, from 18-26 is distinguished and from 9-17 is average, while below 9 is below average.

 
Features

Anything above 22 is remarkable, from 16-21 is distinguished and from 9-15 is average, while below 9 is below average.

Rating Summary

36
Out of 44
+
31
Out of 36
+
23
Out of 39
+
9
=
99
Out of 119
 

Architecture Rating: Points Breakdown

Exterior:
Very Distinguished 7 out of 8 points
Retail Quality:
High-End 5 out of 5 points
Canopy Entrance:
Dramatic 3 out of 3 points
Alterations:
Well Done 1 out of 2 points
Plaza Or Atrium:
Very Attractive 3 out of 3 points
Contextual Design:
Yes and Good 2 out of 3 points
Skyline:
Highly Visible 2 out of 2 points
Local Visibility:
Highly Visible 2 out of 2 points
Watertank:
Enclosed 1 out of 2 points
Airconditioners:
Not Allowed 2 out of 2 points
Free Standing:
Corner 1 out of 2 points
Gargoyles:
None 0 out of 2 points
Garden:
Exists 1 out of 2 points
Fenestration:
Consistent 1 out of 1 points
Landmark:
Individual Designation 2 out of 2 points
Unity:
Unified Design 1 out of 1 points
Illumination:
Yes 1 out of 1 points
Water Element:
Yes 1 out of 1 points

Location Rating: Points Breakdown

Street Ambience:
Outstanding 5 out of 5 points
Distance To Neighborhood Center:
Less than 10 blocks 5 out of 5 points
Views:
Dazzling 4 out of 4 points
Neighborhood Ambience:
Very Attractive 3 out of 3 points
Traffic Noise:
A lot 0 out of 3 points
Protected Views:
Many 2 out of 2 points
Distance To Subway:
Less than 3 Short Blocks 2 out of 2 points
Firedepartment Noise:
No Noise 2 out of 2 points
Distance To Supermarket:
More than 5 Short Blocks 0 out of 2 points
Distance To Park:
Less Than 3 Short Blocks 2 out of 2 points
Distance To Water:
Less than 3 Short Blocks 2 out of 2 points
Shopping:
5 or less Short Blocks 2 out of 2 points
Schools:
No Noise 1 out of 1 points
Noise From Nightlife:
None 1 out of 1 points

Features Rating: Points Breakdown

Lobby:
Spacious 4 out of 5 points
Units Per Floor:
10-15 1 out of 5 points
Ceiling:
9-11 Feet 2 out of 4 points
Balconies:
Some 1 out of 3 points
Health Club:
Yes 1 out of 2 points
Private Gardens:
Substantial 2 out of 2 points
Storage Rooms:
Minimal 1 out of 2 points
Bay Windows:
Some 1 out of 1 points
Fireplaces:
Some 1 out of 1 points
Door Person:
Yes 1 out of 1 points
Concierge:
Yes 1 out of 1 points
Elevator Person:
None 0 out of 1 points
Recreational Roof:
None 0 out of 1 points
Driveway:
None 0 out of 1 points
Maids Room:
None 0 out of 1 points
Catering:
Some 1 out of 1 points
Garage:
None 0 out of 1 points
Mixed Use:
Yes 1 out of 1 points
Non Rectilinear Form:
Yes 1 out of 1 points
Unusual Layouts:
Some 1 out of 1 points
Prewar:
Yes 1 out of 1 points
Other Amenities:
Many 2 out of 2 points
  • Condo
  • Built in 1907
  • 181 Apartments
  • 21 Floors

Building Amenities

  • Conversion Year: 2007
  • Attended Lobby
  • Concierge
  • FT Doorman
  • High-Rise
  • Pre War
  • Resident Storage
  • Central AC
  • Full Service Garage
  • Garden
  • Health Club
  • Washer/Dryer in building
  • Elevator
  • Business Center
  • Party Room
  • Event Room
  • Fitness Center
  • Outdoor Entertainment Space
  • Courtyard
  • In-Unit Washer/Dryer
  • Fireplaces
  • Landmarked
  • Live-In Superintendent
  • Restaurant
  • Terraces / Balconies

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Pros
  • World-famous landmark
  • Great lobby
  • Great entrances
  • Sidewalk landscaping
  • Hotel services
  • Some balconies
  • Excellent public transportation
  • Catering
  • Excellent shopping
  • Concierge
  • Doorman
  • Overlooks Central Park
  • Close to Subway
  • Oak Bar
Cons
  • Many apartments
  • No roof deck
  • Considerable traffic
  • Mixed-use project also has hotel and retail
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Subways

  1. Q
  2. N
  3. R
at 5th Ave and 60th 0.06 miles
  1. F
at 6th Ave 0.17 miles
  1. M
  2. E
at 5th Ave and 53rd 0.31 miles
  1. 4
  2. 5
  3. 6
at Lexington Ave and 60th 0.37 miles
  1. B
  2. D
at Broadway and 53rd 0.40 miles
  1. 1
  2. A
  3. C
at Central Park West and 60th 0.46 miles

Aerial Imagery

 

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