One of Park Avenue’s first high-rise residential buildings that helped define a new kind of luxury
Long before the skyscrapers took over the isle of Manhattan, many folks in the early-20th century lived in low-rise buildings and single-family brownstones. The idea of "living in the sky" was still a new concept, especially on Park Avenue, which was once dominated by train tracks that shuttled residents from upstate and beyond to Grand Central Station. According to David Salvatore, founder of Red Jacket Residential, 470 Park Avenue was not only one of the first high-rise residential buildings to go up along the avenue, it also helped create a new standard for apartment living — or at least, it was a stepping stone towards it. “It was kind of an experiment of sorts in apartment living,” Salvatore says. “At the time, they were really trying to get people to relinquish that ‘Gilded Age’ mentally of having a massive home all to themselves.” When the building was completed in 1916, the designers and architects, Schwartz & Gross, were “trying to replicate what was going on in a single-family home,” says Salvatore, alluding to the tower’s spacious interiors and white-glove services.
As it turned out, apartment living in Manhattan indeed became the norm, and looking along Park Avenue today, one will notice the influence of Schwartz & Gross’s 12-story model at 470 Park. “There are very few exceptions — obviously modern buildings have crept in — but for 100 years, all the buildings were 12 stories high. It’s a line straight up into the 90s,” Salvatore adds. “In a way, [470 Park Avenue] really set the standard for what was to come.” While much has changed along the avenue over the years — the train tracks have long been covered up and what remains is a stately thoroughfare with a wide, grassy median — one of Park Avenue’s first examples of luxury apartment living still attracts contemporary buyers.
Early-20th century Manhattan apartments turned co-ops
Part of the pull of prewar design is typically the spacious interiors, solid construction, cove ceilings and original moldings — and 470 Park Avenue fits the bill. “With apartments that were built even 10 years later, the rooms had already become much smaller,” Salvatore adds. “Schwartz & Gross, while not being a household name, designed many of the buildings where people say ‘Oh that’s a Park Avenue building.’” By the mid-1950s, the red, brick-clad building was converted to a co-op, and while it originally included much larger-than-average units, many have since been divided up. Still, buyers will find that square footage typically veers on the bigger side, with some one-bedrooms reaching around 1,200 square feet. “A good portion of [the residences] are still full-floor apartments,” Salvatore says.
Classic, prewar design with large-scale, closed-plan layouts
Prospective shareholders may find original herringbone wood floors, formal foyers, semi-private elevators and the ultra-rare — for Manhattan, that is — wood-burning fireplaces, which have been grandfathered in. “[The design] actually relates to today really well, because it has what people want,” Salvatore says. “One of the things my clients talk about are the tall ceilings. And being over 100 years old, the rooms are quite large because, as you can imagine, people back then had large furniture — it’s nothing like today with Scandinavian [minimalistic] design.” Some units may need gut renovations, however many updated units include chef’s kitchens with high-end appliances from Miele and Bosch, as well as bathrooms outfitted with marble and radiant heated floors. Most residences have an in-unit washer/dryer, however there’s also a common laundry room available.
According to Salvatore, the large windows are another perk of living there. “You don’t really notice it when you’re walking down the street, but when you’re physically standing in front of them, you’re like ‘wow.’ It has a very opulent feel. It’s definitely in a luxurious class,” he adds. “It’s actually lovely how they’re blending modern sensibilities with hanging on to the architectural history of the building.”
One- to four-bedrooms available starting around one million
In recent years, one-bedrooms typically sell for around $1.2 million. Two-bedrooms generally run between $1.39 million and $3.29 million, while three-bedrooms, although rare to market, can go for anywhere between $1.7 million and $4.9 million. Four-bedrooms, also rare to market, command high price tags starting at $8.2 million and up for over 4,800 square feet.
A white-glove, pet-friendly building with service-oriented amenities
Unlike today’s ultra-luxe high-rises with a slew of amenities, 470 Park Avenue has only the essentials, including a live-in residential manager, door attendants and a live-in super. “It’s an old-style building where service goes before everything else. It doesn’t have a gym or pool, but it does have this incredible staff that is more than someone who just opens the door,’” Salvatore says. Upon entering the building, residents are greeted by two door attendants, one of whom can help with deliveries and packages, while the other opens the actual door. “You know how in the movies the doorman comes out to the car to greet you? Well, you can’t really do that anymore because the doorman can’t leave the door — but since there’s two of them, they can,” Salvatores remarks. Residents can access ample storage downstairs, which Salvatores says former residents used to store their steamer trunks when it was built. Pied-a-terres and foreign purchases are allowed, and the board allows 50 percent financing.
Located on the cusp of the Upper East Side in Midtown East
Situated on one of Manhattan’s most iconic avenues and nestled in between 58th and 57th Streets, residents are in proximity to all the attractions of Midtown, as well as the beauty of Central Park. The latter, the city’s most expansive greenspace, is just a seven-minute walk away. For visiting guests, the Four Seasons Hotel is across the street and casual dining can be found nearby at Piccola Cucina Uptown, which serves Italian fare, or BONSAII Tapas & Wine Bar for cocktails and small bites. Residents can access the 4, 5 and 6 trains at the 59th Street station or the N, R and W trains at the Lexington Ave/59 Street station, both of which are less than a five-minute walk away from the building.
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Quantarium
Current List Price
Sold Price
Area Factors
Moderate Crime
Crime Score®
5/ 10
Very Bikeable
Bike Score®
78/ 100
Walker's Paradise
Walk Score®
98/ 100
Rider's Paradise
Transit Score®
100/ 100
Sources: WhatIsMyCrimeRisk.com, Walk Score
Sources: WhatIsMyCrimeRisk.com, Walk Score
WhatIsMyCrimeRisk.com, Powered by CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks. Walk Score® measures the walkability of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
Sound Score® measures the noise level of any address. Environmental risk data is provided by First Street Foundation® and is designed to approximate risk and not intended to include all possible scenarios.
Parks in this Area
Grand Army Plaza
4 min walk
Tramway Plaza
8 min walk
Picnic Area
50th Street Commons
8 min walk
Picnic Area
Honey Locust Park
9 min walk
Picnic Area
Trails
Channel Gardens
11 min walk
Picnic Area
Nature Center
Greenacre Park
12 min walk
Picnic Area
Nature Center
745 Plaza
2 min drive
Picnic Area
Andrew Haswell Green Park
3 min drive
Bike Trails
Dog Park
Picnic Area
Peter Detmold Park Dog Run
3 min drive
Schools
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