301 W 57th St

Central Park Place

Distinguished by its slender yet set-back profile and cantilevered bay windows, Central Park Place has been a fixture of the ever-evolving Columbus Circle pocket of Midtown Manhattan since 1988. It was among several highly publicized residential and commercial projects that denoted the surrounding area's shift from a late 20th-century no-go-zone into an upmarket haven. Technically located in Hell’s Kitchen, at the corner of 57th Street and 8th Avenue, this 56-story and 296-unit condominium was constructed by blue-chip New York developer William Zeckendorf Jr. and designed by equally era-defining architecture firm Davis Brody Bond. Clad in epochal materials like aluminum paneling and gray-green glass–intended to echo Central Park a few blocks north–the tower has, in some respects, withstood the test of time. In others, however, improvements are needed. Studio to four-bedroom penthouse units of varying condition benefit from large exposures and unobstructed panoramic views. “What’s interesting about the building is that it has a great gym, an indoor pool and nice fourth-floor outdoor area and, of course, unbeatable views,” says Michael Biryla, a broker with The Agency, specializing in the building. Central Park Place is half-owned and half-rented. In both cases, units tend to be reasonably priced compared to other offerings in the neighborhood, especially the newer supertalls further down Billionaires’ Row. All are outfitted in original 1988 herringbone-pattern hardwood floors and large windows, but conditions differ greatly from residence to residence. While a handful have been updated with newer kitchen appliances, cabinetry, bathroom fixtures, washer/dryers and central air by previous owners, many haven’t been revamped since the property first opened. These residences provide potential buyers with the opportunity to head up their own renovations and introduce personal touches. “The thing is that because a lot of the building was bought up by foreign investors rather than occupants when it first opened, they didn’t want to put a lot of capital into making it newer and modern over the years,” Biryla explains. “The real value about Central Park Place that you can’t renovate or change is that a lot of the unit lines, especially the Cs and Bs, directly face the park. Because of the location and proximity to Columbus Circle, those views are unobstructed and never will be.” To get those views in some of the newer Billionaires’ Row towers, potential buyers need to look past the 90th floor because of other nearby structures and can expect to pay upwards of $50 million. The sizable 2,700-square-foot 51BCD penthouse Biryla currently has listed is on the market for just under $9 million. It comes complete with three en suite bedrooms and an additional den; a large, combined kitchen and family room: a separate living room with three exposures and two private balconies. Studios have recently sold for between $650,000 and $900,000 and one-bedroom apartments currently fetch around $1.5 million. Two-bedroom apartments hover around the 2.5 million mark while a limited stock of three-bedrooms have gone for $4 million. Residents can sublet their units and rent auxiliary single-room occupancy suites for visiting guests. As would be expected with a luxury condo of this caliber but perhaps unexpected for one of this age, Central Park Place includes everything from a bike room and large storage lockers to an indoor pool and massage room. A fully equipped fitness center is joined by a sauna. Unsurprisingly, the fourth-floor sun deck also faces the park. Though many of the common spaces were last outfitted four decades ago, there’s talk, according to Biryla, of doing a total revamp. Decked out in a quintessentially late 1980s style — a palette of green marble, wainscoting, cherry wood columns and brass accents – the double-height lobby is still in decent shape. It plays host to a full-time door attendant. The building’s dated elevators have been playfully described by some as “towers of terror,” but are perfectly safe and up to code. As its name suggests, Central Park Place is situated near Central Park. It’s one of the condo’s main draws. Residents can stroll its miles of meandering pathways or intrepidly bike its especially undulating loop road. Wollman Rink is great for wintertime ice skating, while Central Park Zoo is a weekend destination open year-round. The massive green space abounds with hidden gems that residents can continue to uncover for years. The condo is also located right next to Columbus Circle which, along with major subway lines the 1, A, C and B, is served by the Deutsche Bank Center-embedded Shops at Columbus Circle mall. There are 40 premium stores and 10 exclusive restaurants, as well as a large Whole Foods Market grocery store. Top-ranking eateries pepper throughout Midtown and up Columbus Avenue in adjoining neighborhood, the Upper West Side. Lincoln Center for the Performing Arts is a world-class cultural campus incorporating the Metropolitan Opera House, The New York Philharmonic and Ballet. Traveling by car service or subway, residents can reach most parts of Manhattan within in the half-hour.