This Historic NYC Hotel Is Being Converted To Condos
In 2020, The Wales hotel at 1295 Madison Ave. at East 92nd Street in New York City faced permanent closure after nearly a hundred years of service. Overnight New York states that the hotel was a cozy place to spend the night. In the early 2000s, the hotel began taking on a very shabby look in some of its areas, but after a remodel in 2009, the place polished up rather quickly. The rooms were well maintained with a traditional style that adds to the coziness of the place. The hotel contained everything needed for a pleasant stay with the bonus of a rooftop garden, perfect for catching a view of city life.
The 2020 closure of the hotel was said to be the only 2020 New York City closure that was not due to the effects of Covid. Instead, the hotel was bought by Matthew Adell, who owns a development and management firm, and planned on turning the hotel into a set of luxury condos. According to New York Post, the project was kept secret as the price was still negotiated, but now Adell is ready to reveal the results as The Wales' newly reconstructed luxury condos hit the market (per New York Post). Here is what we know about the new condos.
The Wales condos
New York Post states that the Wales hotel, which originally consisted of 87 rooms, came down to a total of 21 condos. The location of the building naturally provides a perfect New York City location for luxury living and brings the best city views to future residents. The condos range in size, offering units with two to four rooms. The price for these condos will range between $3.85 million and $7.42 million.
Separated from the lower portions of the building, the penthouse will be the pinnacle home of the newly reconstructed Wales condo complex. The 4,179 square foot unit has an asking price of $23 million and contains five bedrooms and five bathrooms. The unit also includes a wraparound terrace and roof deck with an outdoor kitchen, wet bar, fireplace, butler's pantry, and a perfect city view. As residents begin moving in later this year, they will be living the life of luxury while enjoying the traditional design of the hundred-year-old building.