The existing apartment building is being converted into 52 luxury rentals

A 113-year-old building on the Upper West Side, that was once home to The Willard Hotel, is currently being transformed into luxury rentals with prices ranging from $3,896 for a one-bedroom apartment to $14,163 for a four-bedroom unit, based on currently available listings.

The 11-story structure at 252 West 76th Street has functioned as an apartment building for a while now, but is now getting the luxury rental treatment. That’s being undertaken by Stellar Management and Argent Ventures, who are working to restore many of the Beaux Arts architecture qualities of the original building.

Once the renovation is complete, the building will have 52 residences, and they will be fitted with bay windows, white oak hardwood floors, a washer-dryer in-unit, crown moldings, and coffered ceilings. The building itself will get a fitness center, a children’s playroom, and a storage facility.

Currently eight apartments are listed on StreetEasy, and more will become available as the renovation work continues.The existing tenants will be given the option of signing a lease for these luxury rentals or else Stellar will honor their existing leases, and begin the renovation of that particular unit afterwards. The chief at Stellar Management, Laurence Gluck, purchased a 50 percent stake in the corporation that owns this building and another one on the Upper West Side back in 2014, according to The Real Deal. At the time it was speculated that the building may go condo, but Stellar has decided to take the luxury rental route.

From http://ny.curbed.com/2016/8/19/12556894/upper-west-side-conversion-luxury-rental

Advertisements