45 Park Avenue at East 37th Street - by Costas Kondylis

[GLNY]

http://www.45parkave.com/

The 1923-vintage Sheraton Russell hotel @ 37th Street is currently being demolished. This shoddy replacement is hardly worthy of the neighborhood. Yet another missed opportunity.

[Bob]

The replacement is b-o-r-i-n-g. Looks like something built out of that 1968-69 kid's building toy, Super City.

[antinimby]

LOL. That was the intention. Probably went with the "safe" look so as to not raise the ire of the neighbors.

[londonlawyer]

Originally Posted by GLNY

http://www.45parkave.com/

The 1923-vintage Sheraton Russell hotel @ 37th Street is currently being demolished. This shoddy replacement is hardly worthy of the neighborhood. Yet another missed opportunity.

That sucks.

[krulltime]

45 Park Avenue:




Development Du Jour: 45 Park Avenue


by Matt Lobron
Tuesday, May 09, 2006

A new condo development, known as 45 Park Avenue, is being constructed at the site of the former Sheraton Russell Hotel at Park Avenue and 37th Street. The building is designed by ubiquitous architects Costas Kondylis & Partners and will contain 105 apartments over 15 floors. No word yet on what prices will be, but at least owners won't have to worry about any sudsing issues—the website makes sure to point out that each apartment will have its own full size GE washer and dryer. The building is very conveniently located right near Grand Central, and the Park Ave. address should compensate for any embarrassment you might feel when telling people that you technically live in Murray Hill.


Copyright © 2006 Curbed

[Luca]

Any pics of the building being demolished?

About the 'boring' comment...does every building have to stand out as an iconic structure? Most good to great street walls consist mostly of buildings that blend together, rather than amazing (read: trendy) one-offs.
The building above looks workmanlike and fairly 'NYC'.

[Fabrizio]

This looks very much like another building Costas Kondylis did up on East End avenue.... and that one is actually rather attractive. I´m just surprised that the hotel was torn down; it was a beautiful building.

[Luca]

Looking at the existing building (just a couple of overall photos on Emporis) I honestly don’t think there is a huge difference in outward quality. I am generally a very strong preservationist, but I don’t think that should extend to nimbyism.

[bigkdc]

Why would they put up a website with this much detail without giving any detail on the sizes of the apartments? I understand not releasing the pricing but no telling if they have 1,2,3 or 4 BRs?

[pianoman11686]

No pics, but I passed by last night and it looked like demolition was complete.

[bananaman]

The building seems to be coming along well. IMHO it has turned out to be one of the better looking Park Avenue buildings in the area. The lobby looks close to completion. The lower level units have cabinetry and light fixtures. Anyone got a closing date yet?

[daedalus]

I am considering buying a unit in this building. Estimated completion date is Dec 2007. Any opinions on whether this building is a good investment for the long term?

[bananaman]

Well I plunked my money down on one early in the year, and I haven't seen anything which has made be nervous yet. I checked out the architect, developer, etc., and they are established companies. I pass the site a couple of times a week, and progress has been visible and continuous. The site is seems well organized compared to some other midtown projects. I think the brick+limestone finish has been well designed and implemented. Some of the lobby finishes are visible, and it looks cool.

I have heard closing date estimates ranging September to December, depending on which floor (so you must be looking high?).

As to whether it is a good investment for the long term, I probably wouldn't be sitting here rummaging around forums for clues if I could always get that right! My opinion is that most likely you can't go wrong with property in this location in Manhattan in the long term (>5yrs), but it could be flattish in the short term.

I am also of the opinion that for a few years, 45 Park Avenue will command a premium over similar properties in the area, provided the quality of work is maintained.

[daedalus]

Good post, bananaman. This will be my first apartment purchase so I'm trying to make a wise decision, but as you said it's very difficult to gauge future prices. I've also visited the site many times in the past couple of months and I like the way it's looking. The exterior of the building looks very elegant and well constructed. The quality of the finishes being used is excellent as well.

I'm looking at a unit on the 9th Floor which is facing Park Ave and is on the south side of the building. I like the floorplan, but I am not sure about what kind of view (if any) or how much sunlight this unit will get. Do you have any thoughts on this?

[Derek2k3]