The Plaza, 1 Central Park South, #1240
Key Details
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Listed: Mar 3, 2022Days on Market: 994Building Type: CondominiumNeighborhood: Midtown West (Manhattan)Doorman: FT DoormanListing viewed 776 times
Description
There are Park views from both the living room and the King size bedroom suite, separated by sliding doors that allow for this space to convert to two bedrooms with complete privacy. The master bath, entered via double French doors, is decorated with marble mosaic tile in a leaf-like pattern inspired by Central Park. There is also a huge owners closet in the hallway.
This is a once in a lifetime opportunity to own a truly unique and spectacular pied-a-terre and income producing property (2017-2019 average annual net return was over 4%). 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. 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.
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