Ritz-Carlton New York Condo House Gets $37 Million Award – DIRT
The Ritz-Carlton on Central Park South is one of New York’s most exclusive buildings. Most of the building is a five-diamond hotel, where standard rooms cost upwards of $1,100 a night, but the top floors are reserved for eleven private mansion-sized residences.
Trophy-collecting casino mogul Steve Wynn was so impressed with the place that in 2012 he lost $70 million on his 11,000-square-foot condo, making this 9,500-foot unit newly listed squares a bargain parent at $37 million!
The current owners are the heirs of Fred Adler, who died in January at age 96 and bought the condo in 2007 for $27 million from late trading card mogul Richard McWilliam. After fighting in World War II, Adler later became known in Wall Street circles as the father of venture capital. He “was among the very first people to recognize the potential of venture capital as an effective force in the formation and recovery of companies. He did it with insight, intuition, demanding spirit and charm,” according to his obituary. “His evenings often consisted of two simultaneous business dinners between which he slipped with ease”
When Adler returned home from his hectic rounds of simultaneous dinners, he retreated to a lavish, spacious oasis of calm above the sands and chaos of the city. Occupying the entire 23rd floor, the expansive U-shaped apartment offers north, south, east and west exposures. And with 120 linear feet of park frontage, there’s an unobstructed view of Central Park. The current layout offers five bedrooms and potentially more and seven and a half bathrooms, as well as plenty of closet space and two soaring terraces.
Staged for the sale process, the condo is divided into three areas, with living and entertainment areas in the center, a nearly 2,500 square foot master suite tucked away in its own wing, and secondary bedrooms tucked discreetly behind. the kitchen.
The living room measures 44 x 22 feet, with high ceilings and double doors opening onto a 70 foot long terrace which overlooks the park. Flanking this room is a living room or guest suite, with wet bar and bathroom, and a formal dining room. Beyond the dining room is a corner living room with panoramic views, a separate breakfast room and a large kitchen with a butler’s pantry. French doors in the kitchen provide direct access to a 55-foot-long deck above the usually frenetic intersection of Central Park South and Sixth Avenue.
The multi-room master suite is a home unto itself. In addition to the 20 x 21 foot bedroom, positioned for maximum privacy and quiet, there is a library with park views, a small den, two bathrooms and over a dozen closets more an equipped dressing room. The southwest corner of the condo is suitable for guests or staff with four bedrooms, all of which are en-suite with several closets, as well as the laundry room and service elevator.
The building has an interesting history. Designed by Emery Roth, it operated as the St. Moritz Hotel from 1930 to 1999. After changing hands several times – it was owned for a few years in the late 1980s by Donald Trump – and extensive renovations , the building reopened in 2002 as the Ritz Carlton Hotel. Today, owners of the residences, including Larry Ellison, late clothing magnate and film producer Sidney Kimmel, and financier Scott Bommer, can enjoy all of the hotel’s services, with their own private entrance and dedicated staff. Residents also have access to the Ritz-Carlton Health Club, La Prairie Spa, a Club Lounge, the Contour Dining Lounge, as well as the hotel’s business center, in-room dining services, and complimentary breakfast. housekeeping on request.
Of course, all of this care comes at a high price. Besides the exorbitant asking price and annual tax bill of almost $170,000, there are $18,233 per month in common charges.
The condo is listed with Erin Boisson Aries, Dustin Crouse and Nic Bottero, all at Douglas Elliman.