1 CENTRAL Park W #1506

Trophy Property- Excellent Returns

This stunning 943 sf one bedroom with 2 full baths has it all. It is the only 1 bedroom line in the building with a full 2nd bath (shower). The views from every room face directly over Central Park 50 feet above the trees. The master bath is quite large. There isn't an inch of wasted space in the entire suite. It has a large walk in owners closet. It was rented out 82% (301 nights) of the time last year, and netted over $70,000 for the owner after all expenses. This 5 star condominium hotel ownership offers the potential to generate income while rented to hotel guests, and not being utilized by the owner. In 2028 the entire Hotel will be going thru a stunning renovation. The bathrooms will soon be Carrara marble, and the current tubs will be walk in showers. All furniture will be replaced, and the décor will change beautifully. Also, the halls on each floor will be completely redone. This will cost the owner over the next 2 years $276,000. The current owner has agreed to pay half of the renovation assessment or $138,000 by the time of the closing or at the closing!!!

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