Manhattan, NY 10019,768 5TH Avenue #1623
Manhattan, NY 10019,768 5TH Avenue #1623
Manhattan, NY 10019,768 5TH Avenue #1623
Manhattan, NY 10019,768 5TH Avenue #1623
Manhattan, NY 10019,768 5TH Avenue #1623
Manhattan, NY 10019,768 5TH Avenue #1623
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Listing Courtesy of Brown Harris Stevens Residential Sales LLC

$4,900,000

$4,995,000

1.9%
Est.Price: ?

For more information regarding the value of a property, please contact us for a free consultation.

Est. payment /mo

2 Beds

2 Baths

1,487 SqFt


SOLD DATE : 08/28/2024

Key Details

Sold Price $4,900,000

Property Type Condo

Sub Type Condo

Listing Status Sold

Purchase Type For Sale

Square Footage 1,487 sqft

Price per Sqft $3,295

Subdivision Central Park South

MLS Listing ID RPLU-21921187994

Sold Date 08/28/24

Bedrooms 2

Full Baths 2

HOA Fees $29,100/mo

HOA Y/N Yes

Annual Tax Amount $46,512

Property Description

2 BR Condotel 2022 net return 5.8%

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 hotel suite is over 1487 sq ft (138.14 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 of more than 3% on average for (2017-2019 figures), this is an amazing investment opportunity and ideal pied-a-terre!

Please call or email 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.

Location

State NY

County Newyork

Building/Complex Name The Plaza Hotel

Building Detail https://www.elegran.com/nyc/buildings/plaza-the-hotel-residences&sold-listing=true

Rooms

Basement Other

Interior

Fireplace No

Appliance Washer Dryer Allowed

Laundry Building Other

Exterior

Exterior Feature Building Courtyard, Building Roof Deck, None

View Y/N Yes

View City

Porch None

Private Pool No

Building

New Construction No

Others

Ownership Condominium

Monthly Total Fees $32, 976

Special Listing Condition Standard

Pets Allowed Building No, No

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