The Pierre Residences

Although the structure was an impressive feat, the timing was unfortunate: Amidst the Great Depression, the hotel quickly went bankrupt. Still, Casalasco’s vision for The Pierre lived on through new owners, and the building had several iterations (supper clubs, night clubs, social clubs) before being resold in 1956. The new owner, oil tycoon John Paul Getty, upheld and expanded upon Casalasco’s vision of a hotel for the elite. Three years later, Getty turned part of the hotel into co-ops, one tick on his long resume of business decisions that ultimately made him the richest man in the world. In the ’50s, The Pierre fell into vogue with Hollywood stars, à la Audrey Hepburn and Elizabeth Taylor. In the ’70s, it was fashion greats like Karl Lagerfeld, Valentino and Yves Saint Laurent. Both Cher and Barbra Streisand were regulars, too. In the ’80s, Andy Warhol and Liza Minnelli. In 1981, the hotel was designated a historic landmark. Today, its posh reputation remains in-tact, attracting the rich and glamorous as both hotel guests and residents.

Five-star service and on-site dining lend a luxurious lifestyle

As one might expect with such discerning clientele, the level of service at The Pierre is first-class, for co-op shareholders and hotel guests alike. Within the building, residents can receive treatments at the Parisian-style hair salon, order laundry or dry cleaning service, receive twice-daily housekeeping service, summon the on-call physician or schedule with the building’s babysitters. The chief concierge has served at The Pierre for over 30 years, and his team is able to help with anything from theater tickets and dinner reservations to booking private travel or appointments. Residents and guests can also book curated experiences such as mixology classes, meet-and-greets with Broadway stars or private shopping excursions.

The on-site dining options are three-fold. Perrine, a French-American bistro, serves upscale seasonal dishes from its ground-floor location, which includes outdoor sidewalk seating throughout warmer months. Originally the hotel’s gentlemen’s library, the swanky, Art Deco-style Two E bar serves small bites, caviar and signature cocktails. At night, it transforms into a cabaret and jazz bar with live music. The Rotunda offers a fine-dining experience set under a fresco-covered ceiling hand-painted by artist Edward Melcarth. The ballroom — one of four on-site event spaces — is one of the most sought-after wedding and gala venues in the city, at one point hosting ceremonies for both the Oscars and the Emmys. Residents may also enjoy tea service from the lobby each morning, as well as room service. Although there is not a separate residents’ lounge or roof deck, there is a 1,600 square foot fitness center and a conference room.

Large-scale apartments with Central Park views

While the co-ops have been renovated and customized by shareholders over the years, buyers can expect the large proportions and closed floor plans typical of prewar builds. Many have 10-foot ceilings, entry foyers and galleries, plus grand living rooms. Reflective of the building’s on-site restaurants and room service, kitchens are on the smaller side, often smaller than the primary suites’ dressing rooms; however, closets throughout the apartment tend to be oversized. Compared to the 140 hotel rooms and 49 suites within The Pierre, there are only 77 co-op residences, ranging between one and five bedrooms. One-bedrooms typically sell between $1.5 million and $3.8 million, whereas two-bedrooms generally fall between $2.2 million and $7.25 million. Prices for three-bedroom units range from $6.75 million to $11.5 million. Larger residences (which include combined units, full-floor apartments and penthouses) have sold between $19.25 and $65 million in recent years. Importantly, shareholders are required to pay in cash and must meet rigorous financial requirements, as financing is not permitted.

At the edge of the Upper East Side and Midtown East

Set on the corner of Fifth Avenue and East 61st Street, The Pierre is directly across from Central Park. The zoo, Wollman Rink and the Pond are all available within a short walk, as are the high-end shops along Fifth Avenue, including Bergdorf Goodman. Upscale eateries include Avra Madison for Greek, Il Mulino for Italian or Café Boulud by Michelin chef Daniel Boulud. Several bus routes operate outside The Pierre along Fifth Avenue, and crosstown buses to the Upper West Side are available either four blocks north or south. The N, R and W trains are also available from Grand Army Plaza, one block south. The Pierre offers valet service for those with a car, and a concierge can arrange travel to and from airports.