These units come with a bargain basement price tag for the gaudy area they’re in.
There are 99 relatively budget-friendly condos on the market among some of the most expensive real estate in the world.
Sales of newly renovated homes inside Midtown’s former Le Parker Meridian Hotel (now known as Thompson Central Park) began Thursday. It is known to trade at a reasonable price, Purchase of approximately $238 million 220 Central Park South is still the most expensive home for sale in the US in 2019. New ONE11 homes carved out of Thompson start at a relatively low $1.3 million for one-bedroom units. Two sets of four-bedroom penthouses on the 42nd floor are asking for $14 million each. reported by Bloomberg.
119 W. 56th St. Apartment owners in hotels are generally not allowed to live there for more than six months a year, so they can be rented out as short-term accommodation, but the ONE11 address is traditionally will be sold as a condominium. , is permitted for full-time residency and sublease, pending board approval. Owners are also granted access to hotel amenities such as the lobby and restaurants.
The hotel building was completed in 1981, but thanks to a major overhaul of the space by developer GFI Development, the units are “essentially new buildings,” said Stan Spiegelman, the company’s managing director. told Bloomberg. Indeed, not only have the previously small windows been replaced with floor-to-ceiling windows, but the apartment now enjoys central air and modern mechanical systems.
GFI hopes that buyers will be drawn not only to the region’s extreme discount prices, but also to the relatively non-stuffy atmosphere, at least by local standards.
Despite being located “in the middle of the city,” Spiegelman said, “it has a downtown feel similar to Beekmann.”
Meanwhile, the Central Park Tower penthouse, a block down West 57th Street, is set to hit the market on Monday and set a new record. A very high price tag of $250 million.