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One Museum Mile Attracting Local and International Buyers

Multi-Housing News Online // Feb 20, 2013

New York—More than half the homes at the new Fifth Ave. residential condominium One Museum Mile have closed or are in contract. That announcement was made last week by CORE, the exclusive sales and marketing firm for the building located at 1280 Fifth Ave. in Manhattan.

“With New York City apartment inventory at historic lows, One Museum Mile is the perfect synthesis of all things quintessentially New York,” Tom Postilio, managing director of CORE, tells MHN. Those things, he says, include “a spacious new development on Fifth Ave. offering high-end amenities, sweeping Central Park vistas and an exceptional design, all at good value.”

One Museum Mile has attracted New Yorkers as well as international buyers seeking good value on the northern end of Central Park.

The new development puts residents close to the legendary park, the Guggenheim and Metropolitan Museum of Art, and right next to the Museum for African Art. According to Shaun Osher, CEO of CORE, buyers “have been drawn not only to the building’s prestigious location on Central Park, but also its superb architecture, amenities and modern interior design.”

Andre Kikoski, who also designed the award-winning restaurant The Wright at the Guggenheim, created the 113 residential interiors at One Museum Mile. Robert A.M. Stern Architects, LLP was the design architect for the building, while SLCE Architects served as architect-of-record.

The range of homes offered includes 838-square-foot studios; two-bedrooms ranging from 1,284 to 1,699 square feet; and three-bedroom floor plans up that range up to 2,118 square feet.

Combinations are also available, including a 3,619 square-foot, six-bedroom residence and an expansive 4,963-square-foot home featuring a total of eight bedrooms. Every One Museum Mile home offers an open kitchen and breakfast bar, Bosch dishwasher, Thermador stainless steel oven, cook top and refrigerator and Bosch washer and dryer.

Amenities of One Museum Mile start with a 24-hour full-service concierge, and go on to include landscaped roof terrace, rooftop pool and terrace overlooking Central Park, fitness center with terrace and residents’ lounge with fireplace.

Additional amenities include a card room and media lounge, children’s playroom, teen game room, formal conference and dining room overlooking Central Park, on-site parking, bicycle room, in- lobby cold storage and private storage.

A 421a tax abatement is in place.

Thus far, One Museum Mile has witnessed especially strong demand from families drawn to the expansive residences and combination units, not to mention the high-end amenities and proximity to Central Park, observes Douglas Barnes, managing director at Brickman, One Museum Mile’s developer.

“From a marketing standpoint, one of the larger challenges has been fighting the perception that there is no luxury new development to be had above 96th St.,” Postilio says. “We have shattered that antiquated notion!”

Original Article: Multi-Housing News Online