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768 5th Ave PH2040, New York, NY 10019

Active Listing
Listing Details:
$8,650,000 Price
Condo Property Type
Central Park South Neighborhood
2 Beds
2.5 Baths
2,150 Approx. Sq. Ft.
$29,532 Maint/CC
$5,743 RET
Key Features:
Allows Pets
Unit Terrace

This is a stunning trophy property and an incredible opportunity to own a piece of New York City History in the Iconic Plaza Hotel! Formerly The Hardenbergh Suite, and now renamed The Grand Penthouse Suite, this palatial duplex offers breathtaking views of Central Park and the New York City skyline. Exquisitely furnished in classic Louis XV style, the breathtaking Grand Penthouse suite is over 2100 sq ft (195 sq. m) with a 540 sq ft (50 sq. m) terrace off the master bedroom. The first floor features a gorgeous corner living room with stunning views of Central Park through oversized arched windows. There is a separate dining area for 12, a second master bedroom suite, and a beautifully appointed powder room. An elegant staircase then leads you to the second master bedroom suite with an expansive and beautifully landscaped terrace, park views and a separate study area. Both bedrooms have king beds, are tremendously grand and all of the rooms offer city or direct park views with complete privacy. There are also two owners closets. Premium amenities include: Marble, wood-burning fireplace in the living room, Butler's pantry and marble wet bar with microwave oven and under counter refrigerator, White glove butler service, Smart home technology controlling temperature, lighting and other services, gorgeous baths including 24-carat gold plated Sherle Wagner faucets, mosaic floors and walls with a gilded leaf motif, deep soaking tubs with separate showers & private WC, Additional full size sofa bed, and Large wood paneled luxury closets with built-in drawers & storage. Priced competitively, with an excellent annual net return (for 2017-2019), this is a once in a lifetime opportunity to own a truly unique and spectacular pied-a-terre and income producing property. PH2040 rents for up to $25,000 per night. Please call or email for further financial information. 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.

This spectacular Penthouse grossed $729,919 in 2021 starting with its first rental of the year (after the hotel reopened) on May 22nd. The net profit starting with May expenses forward was $347,997. Please call for an appointment to see it!

Listing courtesy of Brown Harris Stevens

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