High-end apartment buildings offer office condos to their residents

For half a million, you can skip the subway

Sep.September 01, 2014 07:00 AM
The office condos at 50 West range from 280 to 831 square feet.

The office condos at 50 West range from 280 to 831 square feet.

The convenience of commuting from your luxury high-rise apartment to the office without ever leaving the building used to be one only the Stephen Rosses of the world enjoyed. But soon, you won’t have to be the developer of the Time Warner Center to have that short, sweet commute.

At least two luxury apartment towers under construction — Time Equities’ 50 West Street in Battery Park City and Macklowe Properties’ 432 Park Avenue — are offering office condominiums for sale to those who purchase apartments in the building.

“It basically takes you two minutes to go from your apartment to the third floor,” said Javier Lattanzio, the in-house sales director for 50 West. Time Equities, which has done a number of commercial-to-residential conversions, thought the office condos would be an attractive amenity for residents, he explained.

“A lot of residents say, ‘I want to put my home office in my apartment,’ but they don’t want the inconvenience. This way, they can enjoy their peace and quiet with an additional office in the same building,” he said.

The 15 offices for sale range from 280 to 831 square feet and start with price tags around $540,000, going up to $1.6 million.

Macklowe’s 432 Park also offers a number of condos on the 28th and 29th floors that can be used either as offices or staff quarters.

In July, Ross told The Real Deal that on some foul-weather days, he never leaves the Time Warner Center, where he lives and works.

“When the weather’s bad, I’ve gone for two or three days without going outside,” he said. “I eat at the restaurants and go to Dizzy’s [the nightclub at Jazz at Lincoln Center].”


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