The Ritz-Carlton on Central Park South is one of the most exclusive buildings in New York. Most of the building is a five-diamond hotel, where standard rooms run more than $1,100 per night, but the top floors are reserved for eleven mansion-sized private residences.
Trophy residence collecting casino magnate Steve Wynn was so taken with the place that back in 2012 he dropped a cool $70 million on his 11,000-square-foot condo, which makes this newly listed 9,500-square-foot full-floor unit seem like a relative bargain at $37 million!
The current owners are the heirs of Fred Adler, who passed away in January at the age of 96 and bought the condo in 2007 for $27 million from late sports trading-card mogul Richard McWilliam. Having fought in World War II, Adler later became known in Wall Street circles as the Father of Venture Capital. He “was among the very first individuals to recognize the potential of venture capital as an effective force in the formation and turnaround of corporations. He did so with insight, intuition, a demanding mind, and charm,” according to his obituary. “His evenings often consisted of two simultaneous business dinners that he scuttled between with ease”
When Adler came home from his hectic rounds of concurrent dinners, he retreated to a sumptuous and spacious oasis of calm high above the city’s grit and chaos. Taking up the entire 23rd floor, the sprawling U-shaped apartment offers exposures to the north, south, east, and west. And with 120 linear feet of park frontage, there are stunning views over Central Park. The current layout offers five and potentially more bedrooms and seven and a half bathrooms, along with copious closet space and two slender terraces.
Staged for the selling process, the condo is divided into three zones, with living and entertaining spaces at the center, a nearly 2,500-square-foot primary suite tucked away in its own wing, and secondary bedrooms discretely nipped away behind the kitchen.
The living room measures a commodious 44 x 22 feet, with high ceilings and double doors leading onto a 70-foot-long terrace that hovers over the park. Flanking this room are a parlor or guest suite, with wet bar and bathroom, and a formal dining room. Past the dining room is a corner den with wraparound views, a separate breakfast room, and a large kitchen with a butler’s pantry. French doors in the kitchen provide direct access to a 55-foot-long terrace above the usually frenetic intersection of Central Park South and Sixth Avenue.
The multi-room master suite is a home in itself. In addition to the 20-x-21-foot bedroom, placed for maximum privacy and quiet, there’s a park-view library, a small den, two bathrooms, and more than a dozen closets plus a fitted dressing area. The southwest corner of the condo is suitable for guests or staff with four bedrooms, all of which are en-suite with multiple closets, as well as the laundry room and service elevator.
The building has an interesting history. Designed by Emery Roth, it operated as the St. Moritz Hotel from 1930 to 1999. After changing hands several times — it was owned for a few years in the late 1980s by Donald Trump — and extensive renovations, the building reopened in 2002 as the Ritz-Carlton. Today, owners of the residences, who have included Larry Ellison, apparel tycoon and film producer Sidney Kimmel, and financier Scott Bommer, can enjoy all the services of the hotel, with their own private entrance and dedicated staff. Residents also have access to the Ritz-Carlton health club, the La Prairie Spa, a club lounge, the Contour gastro lounge, as well as the hotel business center, in-room dining services, and housekeeping upon request.
Of course, all that pampering comes at a steep price. Besides the sky-high asking price and nearly $170,000 annual tax bill, there’s the $18,233 per month in common charges.