Is 212 Fifth Avenue the Ultimate Manhattan Address?
That’s what developers of a new condominium at 212 Fifth Avenue are hoping. The prestige of Fifth Avenue is world-famous (it also adds a 5- to 10-percent premium to the price of an apartment), and as anyone who was around back in the days of analog phone exchanges knows, 212 is synonymous with Manhattan. Reporting on the “New York-iest address,” the Daily News mentions how even “Seinfeld”‘s Elaine steals her dead neighbor’s 212 phone number after she gets changed to a 646 area code. “The bearer of a 212 phone number looks like a longtime New Yorker. It’s the ultimate luxury accessory,” the paper says.
Madison Equities is converting the building with Joseph Sitt’s Thor Equities, the latter of whom admits the address was half of the reason he bought the building. The team is banking on the marketability of the address after purchasing it from Gary Barnett for $260 million earlier this year. The 24-story building is in the heart of trendy NoMad, and its 48 apartments are expected to list for more than $3,000 per square foot, almost triple the average Manhattan price.
[Via NYDN]
[212 Fifth Avenue on CityRealty]
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