Mandarin Oriental Residences (Douglas Elliman)
685 Fifth Avenue has long been known as the Gucci Building for its former retail and office tenant, but its residential incarnation has attracted similarly famous names: Michael Shvo as the developer, Daniel Boulud as the director of the exclusive restaurant, and Mandarin Oriental as manager of its first standalone residences in the Americas. Marketing of the Mandarin Oriental Residences quietly began in early 2022, and the first public availabilities have come on the market.
Occupancy is estimated for the second quarter of 2023, and current availabilities include a studio for $2,475,000, a one-bedroom for $4,280,000, and a two-bedroom for $5,950,000. CityRealty listings show that these prices are well above the median for similarly sized condos in the area, and a closer look at the listings shows unusually high common charges.
Occupancy is estimated for the second quarter of 2023, and current availabilities include a studio for $2,475,000, a one-bedroom for $4,280,000, and a two-bedroom for $5,950,000. CityRealty listings show that these prices are well above the median for similarly sized condos in the area, and a closer look at the listings shows unusually high common charges.
However, this may not be a true comparison. If any of these other homes come fully furnished, it is likely not to the extent of the apartments at Mandarin Oriental Residences. In addition to furniture and art, all 69 units come with:
- Cove ceilings with integrated lighting
- Walls covered in lush silk weave
- European 5” white oak chevron flooring
- French doors leading to Juliet balconies
- Custom closets by Molteni
- Crestron home automation systems
- Molteni-designed kitchens with Dornbacht fixtures, polished Graffiti marble countertops, bronze mirror backsplash
- Spa-like baths with French vanilla marble countertops and heated floors, MOMA Design undermounted sinks, custom vanity and cabinetry, limestone steam showers, and oversized MOMA Design soaking tubs
- In-unit Miele washer/dryers
- Blackout drapes
- Georg Jensen silver and Miele appliances in the kitchens
- Frette linens and Mandarin Oriental mattresses in the bedrooms
- Acqua di Parma bath products, Dyson hair dryers, and Mandarin Oriental-branded toothbrushes in the baths
Moreover, if one has ever wondered how much they’d pay to not have to clean one’s apartment, go grocery shopping, or do laundry anymore, these common charges could serve as a benchmark — housekeeping, fridge stocking, and laundry and dry cleaning are some of the services offered by Mandarin Oriental. Additional services include:
- Turn-down service
- Hand-delivered mail and packages
- Courier service
- Private butler service
- In-residence dining from Boulud Priv
- Personal chef, sommelier, and bartender service
- Child and pet care
- Personal training
- In-residence spa treatments
In addition to the restaurant, super-luxe amenities include a rooftop pool, a fitness center, a sauna and steam room, and a spa with treatment rooms and salon. In June 2022, SHVO announced a personal shopping partnership with the nearby Saks Fifth Avenue that includes event access, after-hours shopping, at-home styling appointments, and same-day delivery; additional retail highlights include Bergdorf Goodman and luxury designers’ New York flagships. The building is down the street from Central Park and close to cultural offerings like MoMA, the Theater District, Radio City Music Hall, Carnegie Hall, and the Paris Theatre.
It is also located in a newly robust residential area. There was a time when Trump Tower was the only game in town; however, after years of the building serving as the unofficial site of protests of the former president’s least popular policies, the building has seen a significant drop in popularity and recent sales coming in far below ask.
Additionally, the area has seen a burst of new development in architecturally appealing buildings with well-thought interiors and modern amenities. While there is still no word on the $180 million penthouse at Aman New York Residences, other units regularly rank among top sales, and the recently converted building was among the best-selling of the third quarter of 2022. A short distance away, 7W57 is a boutique building with full-floor units and one current availability for $12.5 million. Nearby buildings also include the Jean Nouvel-designed 53 West 53rd and the Foster + Partners-designed Selene.
Additionally, the area has seen a burst of new development in architecturally appealing buildings with well-thought interiors and modern amenities. While there is still no word on the $180 million penthouse at Aman New York Residences, other units regularly rank among top sales, and the recently converted building was among the best-selling of the third quarter of 2022. A short distance away, 7W57 is a boutique building with full-floor units and one current availability for $12.5 million. Nearby buildings also include the Jean Nouvel-designed 53 West 53rd and the Foster + Partners-designed Selene.
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