1 Central Park W #316, New York City, NY 10023

Description

OVER $200,000 PRICE REDUCTION - PURCHASE PRICE REDUCED TO REFLECT THE FULL ESTIMATED RENOVATION ASSESSMENT. FIRM PRICE.

Now offered at $499,000, reduced from the original asking price of $715,000. The seller has discounted the purchase price to reflect the full estimated cost of the upcoming renovation assessment. The assessment remains payable by the buyer. The asking price is firm.

Welcome to Residence 314, a fully furnished, oversized hotel condominium within a five-star hotel on prestigious Central Park West. With Central Park and Columbus Circle just outside your door, this turnkey residence combines personal enjoyment with hotel-managed rental income potential in one of Manhattan's most sought-after locations.

The residence is designated for transient hotel occupancy, with stays limited to a maximum of 30 consecutive days per person, including the owner. When not occupied by the owner or the owner's designated individuals, and not already reserved, the residence must be made available to the public for rental.

Residence 314 is scheduled to undergo a comprehensive three-month renovation from January 3 through March 31, 2028, as part of the hotel's property-wide renovation program. The project will include building improvements, repairs, and the replacement of furniture, fixtures, carpeting, and other finishes.

The estimated renovation assessment for Residence 314 is approximately $200,000. The reduced purchase price reflects this anticipated expense, offering an opportunity to purchase ahead of the planned improvements.

The apartment features expansive floor-to-ceiling windows showcasing dynamic views of Broadway and the surrounding Manhattan skyline. The open living and dining area is thoughtfully designed for both relaxation and entertaining while overlooking the energy of Columbus Circle.

A fully equipped kitchen with high-end stainless-steel appliances adds functionality and convenience. The spa-like marble bathroom features a sleek glass-enclosed shower and refined vanity, creating a clean, modern aesthetic.

Ownership provides access to exceptional five-star hotel services and amenities, including daily housekeeping and optional laundry valet. Enjoy a state-of-the-art fitness center, a 55-foot lap pool, sauna, steam room, business center, conference rooms with a library, bike storage, and a 24-hour attended garage with valet parking.

For dining, the renowned Jean-Georges restaurant is located within the building, with the additional convenience of in-room dining service.

Whether you are seeking a Manhattan retreat for short stays or a professionally managed hotel condominium with rental income potential, Residence 314 offers an exceptional location and access to the five-star hotel experience.