Trump Park Avenue

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502 Park Avenue, New York City

Trump Park Avenue
TrumpParkAvenue-NYC-Exterior.jpg

Trump Park Avenue, formerly Hotel Delmonico
Building Information
Developer JT Magen & Company
Architect Goldner & Goldner
Number of Units 120
Number of Floors 32
Year Built 1929
Construction Method Brick
Type of Roof Tile
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502 Park Avenue, New York City
Distance to Public Transit Less than one block
Region New York City
Municipality New York City
Zoning C5 - 3
Title of Land Condominium


Contents

Background

Trump Park Avenue has had many uses over the years since being built in 1929. It originally opened as the Vicerory Hotel, changed its name to Cromwell Arms, and finally became the Hotel Delmonico. In between being a hotel, Trump Park Avenue was also a rental building, a cooperative before switching back to a hotel. The flamboyant real estate baron, Donald Trump, purchased the property from Sarah Korein for $115 million in 2002. Trump then set about to convert the grand old hotel to 120 condominium apartments bringing in the architectural services of Costas Kondylis, who has been the architect for numerous Trump projects. The renovation cost was reportedly $100 million transforming the hotel rooms in gracious and luxurious homes in keeping with Donald Trump's over-the-top style.[1]

Converted homes on the third and fourth floors are large units that occupy the space that was once the hotel's ballrooms. The ceilings boast 15 foot heights. Precision detail went into the renovation work. finishes include solid oak flooring, Italian brass fittings, and handcrafted doorknobs and moldings throughout.

Perhaps the most striking feature of Trump Park Avenue is the the tower. It contains 12 floors and offers 360 degree views of all of Manhattan. The Upper East Side on Manhattan is known for its very expensive real estate. Trump Park Avenue is currently valued at about $142 million (2012).

Location

Trump Park Avenue is centrally located in Upper East Side of Manhattan just to the south of the border to Lennox Hill. It is two blocks from Central Park and is in the heart of Park Avenue and Fifth Avenue, a retail mecca. Nearby five star hotels Four Seasons and The Plaza, share the neighborhood.

The Museum of Modern Art (MoMA), Frick Mansion, and the Whitney Museum are within walking distance. Some of New York's most prestigious schools are close to Trump Park Avenue. It easily earns a walk score of 98 out of 100 for nearby services and amenities, and a 100 out of 100 for access to transit.[2]

Construction

Built in the late 1920s, the 32 story art deco Trump Park Avenue sits atop a three story pedestal of limestone. The upper building consists of hand-laid brown brick with ivory colored terracotta trim topped with a pitched roof of red tile.

The impeccable views from Trump Park Avenue are preserved due to the purchase of the air rights of the former Pepsi-Cola and Olivetti building at 500 Park Avenue.

Conversion to condominium apartments began in 2004 overseen by JT Magen & Company, who's painstaking renovation included adding 12,000 square feet of living space and converting some terraces to glass greenhouses. Apartments were fitted with modern technology and luxurious finishes. Private elevators open to the twentieth floor where full floor apartments begin. Changes to the tower's north and west sides removed some glass cladding which did not follow the context of the original building.

Layout and Features

After the renovation and conversion, Trump Park Avenue has glass enclosed greenhouses and 120 luxury apartments. The double-height lobby with coffered ceilings and checkered marble floors is replete with wood paneled walls.

Around the clock doorman and concierge services attend the lobby. Residents enjoy many hotel like services including valet services and daily maid and laundry service. Kitchens feature white wood cabinetry with fluted glass panels. Cast iron sinks and marble counter tops with mirrored back splashes also set off the kitchens. Bathrooms are bedecked with Fior de Pesco marble and Watermark chrome nickel fixtures. Floor to ceiling windows offer great views with some of the full floor luxury homes having a 360 degree panorama.[3]

Floor Plans

About 67 floor plans within Trump Park Avenue are available. Here are a select few:

Amenities

Along with many modern technology upgrades, other luxurious touches have been added. From the fully attended lobby to the full service garage, residents also enjoy lavish surroundings, a fitness center and easy access to Madison Avenue shops.

Here are a few of the features incorporated into the renovations:

Bylaws

Trump Park Avenue Bylaws
Rentals Yes
Pets Yes
Age No



  • Rentals are permitted at Trump Park Avenue
  • Pets are allowed
  • No age restriction exists for ownership

Sustainability

Although Trump Park Avenue was constructed prior to today's understanding of sustainable design and implementation, several aspects of 'green' construction were introduced.

Most notably, the Watermark Designs plumbing and bathroom fixtures noted for their artistic craftsmanship and their environmentally safe manufacturing practices.

Their products are sustainable both through their water saving operation and commitment to energy efficiency.[4]

Trivia

  • The Viceroy Hotel, as the Trump Park Avenue was known upon opening on October 4, 1929, fell into financial difficulty almost immediately. The Stock Market Crash of 1929 would occur in only a few weeks that would signal the beginning of the Great Depression. The 525 room building had been constructed for the vast sum of $5 million, but was sold at auction 6 years later in 1936 for $1.8 million.
  • In 1975, William Zeckendorf Jr. purchased the hotel and made it into a 193 rental apartment building. It then evolved into a cooperative before returning to be a hotel again in 1990. Donald Trump purchased it in 2002 and it was brought to its present grandeur.
  • Ivanka Trump, the 30-year-old real estate mogul and daughter of Ivana and Donald Trump, lives in Trump Park Avenue. She is the head of design for the Trump Hotel Collection. When she is not busy at her day job, Ivanka moonlights as a boardroom judge on her father's TV show, The Apprentice.[5]
  • In 1964, the Beatles stayed at the hotel during one of their tours to America. It is said they were first "turned on" to marijuana at the hotel by Bob Dylan.

References

  1. Wikipedia - Trump Park Avenue
  2. Walk Score
  3. City Realty
  4. Watermark Designs Website
  5. New York Daily News - Article

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