360 Central Park West Closings Come in Above CPW Average, See What's Left in this Remade Candela Condo

By CityRealty Staff | From Future New York Thursday, August 2, 2018

Rendering credits: Redundant Pixel | Photography Credit: Michael Weinstein

Central Park West is home to many of the city's most prestigious co-ops: The Dakota, The San Remo, and The St. Urban to name a few. Earlier this year, 360 Central Park West debuted a rare collection of freshly-remade homes on the elegant boulevard. Designed by renowned architect Rosario Candela in the Roaring 20s, the 17-floor building presents buyers with a hard-to-come-by opportunity to own a condo with Central Park views at an attainable price point. Now, as the reconceived apartments are ready for move-ins, just two units remain. A four-bedroom on the tenth floor is listed for $5.575 million and a two-bedroom on the sixth floor is priced at $2.995 million.

Closings began in late 2017 and so far this year has seen 22 closed deals in the building. Units have traded at an average price/ft² of $1,953. The figure is 4% higher than the average price/ft² of condo sales recorded on Central Park West this year. The average closed price of condos in the building is $3.3 million, which is also higher than the neighborhood average of $3.0 million. The most expensive deal so far is the $6.4 million sale of Unit 14B, a 2,324/ft² three-bedroom which closed for more than its asking price of $6.3 million.

While 360 CPW's sales are slightly above the neighborhood average, when compared to other relatively new condo-constructs to the south such as 15 Central Park West, Time Warner Center, Trump International, and 353 Central Park West; then 360 CPW presents quite a bargain.

More recently, a studio and a three-bedroom closed in the building for $761K and $5.495 million, respectively. Corcoran agents Kristina Ojdanic and Greg Kammerer represented the buyer in the deals. The sales have yet to be recorded in city records and were not tallied in the numbers above.

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The building's newest chapter as a condominium was headed by Argo Real Estate with CetraRuddy as the architects. Most of the building's original 146 rental apartments have been expanded and modernized, and according to a press release, 34 windows were added to bring more light and air inside. Living rooms have floor-to-ceiling windows and five-inch solid oak herringbone floors are fitted throughout. Kitchens have marble countertops and Miele appliances that include a separate wine refrigerator. Baths are equally luxurious, sheathed in marble with mosaic floors. Select homes feature an Agape Novecento freestanding tub.

Many apartments were combined to provide airier one- to four-bedroom layouts that accentuate views of the park and city. The team says, "The resulting structure is one that possesses the feel of Old New York, yet appeals to the 21st-century buyer." Amenities in the full-service building include a children's playroom, gym, storage lockers, bike storage and a pet spa.

In addition to 360 CPW's location across from Central Park and near the Rudin Family Playground, across 96th Street will open a venue for the Children’s Museum of Manhattan (CMOM). Earlier this year, the organization announced it will renovate the landmarked church building, formerly home to the Church of Christ, Scientist, to double the museum's exhibition space and will increase the number of visitors to the museum. There will also be a cafe, nursing room and storage. FXCollaborative have been commissioned as architects and the museum will open in 2021.