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The Plaza, Hotel Residences
768 Fifth Ave, 1623
Midtown West, Manhattan | West 58th Street & West 59th Street
4.5 Rooms2 Beds2 Baths1,487 Square FeetCondo
$4,995,000
$4,995,000
Updated 3 years ago
Off Market

The Plaza, Hotel Residences

768 Fifth Ave, 1623

Midtown West, Manhattan | West 58th Street & West 59th Street

4.5 Rooms2 Beds2 Baths1,487 Square FeetCondo

$4,995,000
Common Charges$24,475
RE Taxes$3,526
Price Per SF
$3,359

Listing Features

  • Abundant Closets
  • Corner Apartment
  • Entry Foyer
  • Moldings
  • Separate Dining Area
  • Split Bedrooms
  • Walk-in Closet
  • Wet Bar
  • New Windows
  • Adjoining Pantry
  • Dishwasher
  • Double Vanity
  • En Suite Bathroom
  • Soaking Tub
  • Stall Shower

Outdoor space and views

  • City Views
  • Skyline Views
  • East Exposure

Building Amenities

  • Full Service
  • Elevator
  • Housekeeping
  • WiFi

Policies

  • No Pets
  • Pieds A Terre Ok

Property Description for 768 Fifth Ave, 1623

2 BR Condotel 2022 net return 5.8%

Incredible opportunity to own a piece of New York City History in the Iconic Plaza Hotel! Known as The Vanderbilt Suite, this stunning two bedroom condo hotel suite is over 1487 sq ft (138.14 sq m). This sprawling two bedroom corner unit offers beautiful views on to Fifth Avenue and an over-sized living room with an elegant separate dining area nestled into a beautiful rounded corner window. A fully outfitted butlers pantry and wet bar make this unit perfect for entertaining and the layout makes it feel like a real home. There is a perfectly placed second bathroom in the hallway which doubles as a powder room for guests and is located just across the second bedroom. The gorgeous master bedroom suite also has an over-sized spa-like bathroom featuring a custom claw foot bathtub, separate spa shower and a private WC. Exquisitely decorated in perfect Louis XV style and complete with two private owners closet. Priced competitively, this is a once in a lifetime opportunity to own a truly unique and spectacular pied-a-terre and income producing property. 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. With an excellent annual net return of more than 3% on average for (2017-2019 figures), this is an amazing investment opportunity and ideal pied-a-terre!

Please call or email for further financial information. 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.

Video Walkthrough


Listing History for 768 Fifth Ave, 1623

Now
08/29/2023
Expired by Douglas S. Russell
Brown Harris Stevens
03/06/2023
Back on the Market by Douglas S. Russell
Brown Harris Stevens
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Building Details for 768 Fifth Ave

OwnershipCondo
Building TypeHotel
Service LevelFull Service
AgePre-War
AccessElevator
Year Built1907
Floors/Apts20/282
Learn More About the Building

Transit and Citi Bike

Subway

5 Av/59 St
0.06 miles
57 St
0.21 miles
5 Av/53 St
0.27 miles
59 St
0.3 miles
Lexington Av/59 St
0.34 miles

Citi Bike

Central Park S & Grand Army Plaza
0.05 miles
E 58 St & Madison Ave
0.09 miles

Contact Agent

Contact Agent

Douglas Russell
Brown Harris Stevens

Midtown West | Manhattan

Quick Profile

People, yellow cabs, bright lights, big crowds, 24-hour eateries and just about every type of store imaginable. it’s a frenetic buzz that only a few places on the globe can offer. And that’s just one part of it. Midtown West is the birthplace of hustle and bustle and it’s bordered by 42nd to the south, 59th Street to the north, 8th Avenue to the west, and 5th Avenue to the east. 

Midtown West is not as residential as other neighborhoods in Manhattan. The bustling part of Midtown West is 42nd Street between Times Square and 8th Avenues where the retail and office space, theatres, and attractions are. No matter what time of day it is, you'll always find activity there. 

Residential buildings lay near the western end of Midtown West beginning around 8th Avenue. 

Location, location, location. Of all the neighborhoods and enclaves of Manhattan, Midtown West is perhaps the most commutable place to live, visit, or work. It contains one of the highest concentrations of subway lines in the Big Apple. A, C, E, N, Q, R, 1, 2, 3, and the 7 train. The transit system feeds the streets with commuters from everywhere. The Port Authority Bus Terminal and nearby Penn Station adds to the number of people that flood Midtown on any given day. 

It’s one of the easiest places in all of Manhattan to navigate because it’s a true grid. Uptown, street numbers go up. Downtown, street numbers go down. It’s the same concept from east to west. You really can’t get lost in Midtown West.

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Featured on the Linecity Blog

The MEDIAN

Manhattan | August 2023

According to New York City records, the median price for an apartment in Manhattan for the month of August 2023 was $1,150,000.  The price represents a minimal decrease of .02% from the median price of $1,175,000 recorded in August 2022.  The number of apartment sales, however, fell from 1,546 to 1,204 reflecting a year-over-year decreas...

posted on December 8, 2023
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 316919
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