Manhattan Condos - New Developments - Conversions - Resales: September 2006

Manhattan Real Estate in history/today: 455 Central Park West

455 Central Park West "The Castle"                   455 Central Park West "The Castle"

From A Cancer Hospital Built In 1887 To Luxury Condos Today - No Corners For Germs

In Sunday’s New York Times real estate column Big Deal by Josh Barbanel there’s an item titled Five Turrets, No Dungeons about a couple that recently bought and moved into their new $6.4 million turret condo at 455 Central Park West between 105th and 106th Street. 

Jonathan Miller from Miller Samuel appraisers said the prices paid for the turret apartments were the highest prices paid for a coop or condo north of 96th Street. Of 19 condos there are 8 still available priced from $4.8 - $7.6 million. I have also heard that the Ariel the two new luxury glass towers going up on opposite sides of Broadway at 99th Street has a contract on a $7 million penthouse apartment.

Affluent buyers paying record prices are moving on up to deluxe apartments on the Upper Upper West Side. The apartment is over 5000 square feet with 3 bedrooms, 4 bathrooms, a library, dining room, and family room; eat in kitchen, two terraces and a patio with 1000 square feet of outdoor space. 

The French renaissance style chateau building has intricate wrought iron gates, arcaded loggia and imposing circular towers and slate roof. Built in 1887 for the New York Cancer Hospital, the first cancer hospital in the city. 

The building has 5 round turrets because at the time it was built corners were thought to harbor germs.  It later became a nursing home and asylum whose management was convicted of Medicaid fraud and it closed. 

The building had been dormant and decaying for more than 25 years. Local neighborhood residents call it the castle.  

In 2001 a Chicago developer Dan McLean who also built a development on Fisher Island off the Miami coast broke ground blending the landmark building with a new 26-story tower. The new building shares a lobby and courtyard with the chateau-style structure. Each turret condo has at least 1 circular room.

9/11 caused hardship and a halt to the project until Columbia University came to the rescue. The first 15 floors in the tower were bought by Columbia University. They bought 2 and 3 bedroom apartments for prominent professors and visiting dignitaries. They paid $45.38 million for 53 luxury condos an average of about $1 million per apartment. 

Columbia a large owner of Manhattan real estate on the Upper West Side, Harlem, Morningside Heights and Upper Manhattan also bid on the property but lost by $200,000 to MCL companies.

Columbia has also recently put up Luxury Residential Towers on Broadway at 103rd and 110th streets and has major expansion plans including a new campus in the Hamilton Heights section of Harlem

I attended a broker party a couple of years ago when they started selling. The remaining 44 apartments started at around $1.35 million. The building features include many amenities including valet parking, a concierge a health club and pool.  

The Real Deal recently reported that condo sales have been slow. The building is opposite Central Park, the area is called Manhattan Valley adjacent to West Harlem and a few blocks east of Morningside Heights   

Manhattan real estate in history/ today

A blog series by Mitchell Hall 

Landmark Living

Starchitect Skyline 19th - 21st homes

The Castle 455 Central Park West

The Ansonia 

The Dakota

50 West 86th                    

 
   

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©Mitchell Hall 2006-2016

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Blogging about Manhattan Real Estate since 2006

Mitchell Hall (Licensed as Mitchell J Hall)

Licensed Associate Real Estate Broker
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MHALL@Corcoran.com

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Comment balloon 4 commentsMitchell J Hall • September 17 2006 09:27AM
Manhattan Real Estate in history/today: 455 Central Park West
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455 Central Park West "The Castle" From A Cancer Hospital Built In 1887 To Luxury Condos Today - No Corners For Germs In Sunday’s New York Times real estate column Big Deal by Josh Barbanel there’s an item… more
Manhattan Real Estate in history/today: The Ansonia
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The Ansonia - Upper West Side - 2109 Broadway When The Ansonia opened in 1904 it was called: "the most technologically advanced apartment house in the world" Loaded with towers, mansard roofs, ornate… more