Madison Equities has announced that 212 Fifth Avenue is 100% sold. The 24-story, 48-unit, landmark neo-Gothic early skyscraper is situated in Madison Square Park, just north of the Flatiron Building and south of the Empire State Building.
Constructed in 1912, the lavish condominiums feature gracious layouts, high ceilings and large windows that flood the residences with light, offering exceptional views of the Manhattan skyline and Madison Square Park. Designers Pembrooke & Ives and David Helpern fused pre-war design and contemporary features into the residences, including marble entry foyers, gallery hallways, grand living rooms, open kitchens with custom ash mill-work, Calacatta marble counters and top-of-the-line Gaggenau appliances.
“Discerning buyers seek out and appreciate exceptional design and execution, and the impeccable combination of classical luxury and enduring value brought us to this milestone,” said Robert Gladstone, CEO of Madison Equities. “Closing out sales at 212 Fifth Avenue marks an impressive achievement in Downtown Manhattan as the sales cycle remained strong from the project’s beginning stages, all the way to completion.”
Select residences at 212 Fifth Avenue and the penthouse showcased a once-in-a-lifetime collaboration with partners Luxury Living, Axoim Fine Arts, Design Studio 15, Gandia Blasco, IMG, Interior Styling Inc., DinaburgArts, Westwood Gallery, and the property’s creative agency, BRDAR.
“We are grateful to each member of our strategic partnerships that helped us accentuate the extraordinary architectural design and details,” said Gladstone.
“The 212 Fifth Avenue team led by Madison Equities developed a truly superior product that attracted buyers with its grand scaled rooms, gracious layouts and highest-quality finishes,” said Nikki Field of Sotheby’s International Realty, broker for the property. “The team’s vision helped reshape the market with sales that maintained value in comparison to similar properties. Because of the tenacity of every partner involved in the development and sales, owners will benefit from the strong values obtained. The final deals secure the significance of the record sales in the building, contrary to the competitive market performance.”
“The Sotheby’s International Realty sales team was instrumental in the building’s success, executing on a tactful sales and marketing strategy,” added Gladstone. “Our public relations firm Relevance International was also integral in crafting and delivering the message.”
In the past few years, the best-selling new condominium developments and conversions in the downtown marketplace were masonry buildings. Including 212 Fifth Avenue, the most notable properties were: 220 Central Park South, 520 Park Avenue, 70 Vestry Street, 160 Leroy Street, 432 Park Avenue and 443 Greenwich Street.
Building amenities include lobby with 24-hour doorman, concierge, cold storage and fitness center by The Wright Fit, with adjoining yoga studio and treatment room. A playroom and separate game room both include age-appropriate equipment and features. The residents’ lounge features adjoining dining and meeting rooms with catering kitchen, screening room and valet parking.