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The Plaza, 1 Central Park South, #PH2040

Listing no longer available on CityRealty as of Jul 6, 2023
It previously was on the market for a total of 122 days.
29 apartments are currently available in this building.
122 days on Market

Pricing History

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Key Details

  • Listed: Mar 6, 2023
    Last Price Change: +1.2% ($100,000) on Jul 6
    Days on Market: 122
    Building Type: Condominium
    Neighborhood: Midtown West (Manhattan)
    Doorman: FT Doorman
    Listing viewed 5,004 times
Monthly Common Charges: $29,532
Monthly Real Estate Taxes: $5,743
Total Taxes & Fees: $35,275 ($16.41/ft2)
Est. Monthly Mortgage: -
Total Est. Monthly Carrying Cost: $83,360 ($38.77/ft2)
Note: the above is based on a down payment of 20% ($1,750,000), which is the minimum amount permitted by the building.

Description

PLAZA GRAND PENTHOUSE 2022 NET RETURN 9.25%

This stunning trophy property is an incredible opportunity to own a piece of New York City History in the Iconic Plaza Hotel! This Condotel generates dramatic income monthly to the owner after all expenses. The Owner can stay anytime they want up to 120 days a year at a minimal, additional daily cost.

The Plaza Grand Penthouse Suite, is a palatial duplex which offers breathtaking views of Central Park and the New York City skyline and a large Terrace. Exquisitely furnished in classic Louis XV style, this breathtaking Penthouse suite is over 2100 sq ft (195 sq. m) with a 540 sq ft (50 sq. m) terrace off the master bedroom. The first floor features a gorgeous corner living room with stunning views of Central Park through oversized arched windows.

There is a separate dining area for 12, a second master bedroom suite, and a beautifully appointed powder room. An elegant staircase then leads you to the second master bedroom suite with an expansive and beautifully landscaped terrace, park views and a separate study area. Both bedrooms have king beds, are tremendously grand and all of the rooms offer city or direct park views with complete privacy.

There are also two large owners closets. Premium amenities include: Marble, wood-burning fireplace in the living room, Butler’s pantry and marble wet bar with microwave oven and under counter refrigerator, White glove butler service, Smart home technology controlling temperature, lighting and other services, gorgeous baths including 24-carat gold plated Sherle Wagner faucets, mosaic floors and walls with a gilded leaf motif, deep soaking tubs with separate showers & private WC, Additional full size sofa bed, and Large wood paneled luxury closets with built-in drawers & storage. Priced competitively, with an excellent annual net return (for 2017-2019), this is a once in a lifetime opportunity to own a truly unique and spectacular pied-a-terre and income producing property.

PH2040 rents for up to $28,000 per night..

The Plaza Hotel which had 804 rooms was converted into a hotel and a residential condo in 2007. The new Plaza Hotel has only 282 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.

This spectacular Penthouse netted after all hotel expenses and property taxes over $800,000 in 2022. Please call for an appointment to see it and view it in the online video.

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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

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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