Landmark Property Being Restored and Modernized
NEW YORK -- (BUSINESS WIRE) --
Residences in the magnificent architectural masterpiece of 'New York's Golden Age' - The Apthorp - are now being offered at substantially reduced pricing, starting at $1,535,000. The first 32 condominium homes are being marketed by Prudential Douglas Elliman. Closings are expected to begin in fall 2009.
"This is a once-in-a-lifetime opportunity to own a part of New York's history at below market prices that will never be seen again - once we reach our conversion goal in September, prices will most certainly go up," says Chairman of Prudential Douglas Elliman, Howard Lorber.
The Apthorp, at 390 West End Avenue, takes up a full city block in the heart of the Upper West Side. It was the world's largest residential building at its creation by William Waldorf Astor in 1908 and is famously noted for its interior courtyard tucked away behind two majestic, vaulted entrances. The spectacular homes, ranging from 1,100 to 6,000 square feet, each have a unique layout and décor. Most homes feature a grand entry foyer with signature stone mosaic tile floors, ceiling medallions, intricate moldings and up to three fireplaces, the majority with hand-carved mantels.
A $30 million capital improvement program is currently in progress that will not only restore the property to its turn-of-the-century splendor but also modernize it to 21st Century standards. New residences will be equipped with sophisticated heating and cooling infrastructure, seamlessly integrated into the fully restored interior décor of the homes. They will also be outfitted with their own Miele washer and dryer.
Buyers may choose among different high-end kitchen and bathroom finishes. For a limited time there is also the option to purchase a home 'as is' or partly renovated. Building amenities will comprise a fully renovated garage with valet service, storage space, a children's play room, a central laundry room, gym, sauna and massage rooms, and a conference meeting room. Staff will include the valet, a gatekeeper, and 24-hour doorman.
The property is newly managed by Broadwall Management of Apthorp LLC, an affiliate of The Feil Organization. For more information, please call the sales office at (212) 799-2211 and visit www.TheApthorp.com.
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CONTACT:
Rubenstein Associates, Inc.
Public Relations
Robin Dolch, 212-843-8282
RDolch@Rubenstein.com