Bussiness
Vintage Appeal: Why A-Listers Love New York’s Vintage Residential Buildings
Vintage residential buildings are often the digs of choice for Manhattan’s cultural class. Timeless charm and classic architectural style are a given. Decades of history and sometimes screen credits are attached to these prestige addresses. Even the names are cinematic: The Dakota, the Ansonia, the Belnord, the Apthorp and the Arconia — the last one maybe the fictional star of “Only Murders in the Building” but its charms illustrate the style’s appeal. What they have in common are grand pre-war edifices that can’t be replicated today due to their superior construction materials, priceless interior finishes, large floor plans and ornate stone facades.
Nora Ephron famously detailed her attachment to the Apthorp in “The New Yorker.” She described the 1908-built, block-sized building on the Upper West Side as an urban miracle; its peaceful central courtyard a sheltered park “where the city falls away.” (The building is a major backdrop in the Meryl Streep and Jack Nicholson starrer “Heartburn,” which is based on Ephron’s autobiographical book). Recently an 8,557-square-foot, nine-bedroom, 10-bath completely renovated condominium (a combination of three apartments) listed for $26 million in the landmark building, which has been home to numerous entertainment pros from Ephron and her sister screenwriter and novelist Delia Ephron to Rosie O’Donnell and both Al Pacino and Robert De Niro.
The Belnord also has a storied legacy. Its sheltered, 22,000-square-foot central courtyard is now iconic. Throughout Hulu’s “Only Murders in the Building,” the limestone exterior and courtyard are oft-featured locations; interiors are shot elsewhere. Maya Kadouri, director of sales at the Belnord, part of Douglas Elliman New Development Marketing, confirms its appeal to residents: “The building offers beauty, architecture, inspiration in itself and it also offers, quiet and serenity to connect with creative thoughts and pursuits once you’re in the interior.”
Buyers appreciate the romantic Renaissance revival architecture that can’t be duplicated; Westbrook Partners redeveloped the historic building into two-to-six-bedroom condominiums. Robert A. M. Stern architects re-envisioned the spaces. “The pre-war building allows for a perfect balance of old world charm and sophistication without sacrificing modern luxuries, interiors and amenities, which a lot of buyers in that segment are looking for,” adds Kadouri. Those amenities include “white glove” service, 24-hour lobby attendance, additional staff and the rare perk of a drive-in, drive-out courtyard through gilded gates.
Kadouri says the renovated residences are nearing a sellout; currenting two five-bedroom apartments are listed at more than $10 million. (Per Crain’s New York Business, Martha Stewart recently bought in, purchasing a duplex priced at $13.2 million).
“There’s something about these older pre-war buildings that feels like a real home,” explains Eddie Tawil, a licensed associate real estate broker with Corcoran Group’s Chelsea office. “And they really hold their value,” he adds.
Delineated rooms and larger closets are hallmarks of the layouts. Tawil recently had a studio apartment in a classic, full-service West Village Bing & Bing-designed building at 2 Horatio Street go under contract for $850,000. The 500-square-foot, upper-floor studio featured high ceilings, a redone kitchen and fireplace. Bravo’s Andy Cohen recently listed his 3,500-square-foot residence in the same building for $14 million. The duplex is a combination of four apartments and has 25 windows along with four-and-a-half bedrooms and custom finishes throughout. (Serhant holds the listing).
Manhattan’s developers recognize the opportunity in the finite supply of these coveted pre-war builds. Remakes are a now a market staple. The Waldorf Astoria Residences New York will soon add 375 upscale condominiums to Midtown Park Avenue within the Art Deco landmark. (Douglas Elliman Development Marketing is representing; listings start at $1.875 million for a studio unit).
At the intersection of Broadway and Wall Street in lower Manhattan’s Financial District, the amenity-rich One Wall Street has 566 completely new residences (with 192 floor plans) within the fabled, 1931-built Ralph Walker-designed edifice, now expanded and re-purposed for residential and retail use. The building’s materials alone are irreplaceable. Anna Zarro, president of sales, notes, “It would be physically and logistically impossible to mobilize and execute a building of this magnitude, of even just the initial landmarked tower portion of One Wall Street, if somebody wanted to today.”
Manhattan residential real estate buyers are fortunate to have so many choices when it comes to being sold a piece of history. “There’s no cookie-cutter, glass-box kind of approach,” notes Zarro of One Wall Street. “I think that’s why people like these buildings. They don’t want something generic. They don’t want something that everybody else has.”