The Real Deal New York

The Real Deal New York

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502 Park Avenue
New York, NY 10022
Website
Residential, Sales, Leasing/Rental, Condo (Building)

Located in Lenox Hill, the Trump Park Avenue at 502 Park Avenue is one of Donald Trumps most coveted properties, but it has little of his trademark grandeur. Located in the hoighty-toighty Lenox Hill neighborhood of New York City, and unfortunately built in in 1929 on the cusp of the Great Depression, the building has changed hands (and names) several times. For years it had been home to a number of hotels: first the Viceroy, then the Cromwell Arms, and finally Hotel Delmonico, where it was home to several celebrities, including Ed Sullivan, and the alleged location of where Bob Dylan introduced marijuana to the Beatles.

In 2001 Trump bought the building for $115 million and within a couple years converted it from a hotel into a 120-unit luxury residential condominium, though with the intention of keeping some hotel-esque features like maid and laundry service. The building still has touches of pre-war, including hand-laid brick, but Trump has pumped nearly $100 million into renovating it.

Today the property continues to hue to its star-hugging past. A number of high-profile renters have lived there, including the owner of the New York Giants, infamous baseball player Alex Rodriguez, and Rupert Murdoch.

-NR

  • Address 502 Park Avenue
  • neighborhood Lenox Hill
  • borough Manhattan
  • owner Trump Organization
  • developer Trump Organization
  • owner entity TRUMP PARK AVENUE LLC
  • PLANS DISCLOSED 08/19/2002
  • LIST/LAUNCH SALES 03/26/2003
  • floors 31
  • AG Initial Price $ 621,968,900
  • Year Built 1927
  • ag file plans 08/19/2002
  • AG FILE Link
  • residential units 134
  • commercial units 1
  • hotel units 0
  • total units 161
  • square feet 252,049
  • const. status CONDO COMPLETE
  • block and lot 1-01374-7502
  • BIN 1040756
Condominium Units+

12/09/18
People shopping for a home to buy are most likely to search online during a work day, according to Redfin. The Seattle-based national brokerage firm...

12/09/18
Driven by more than just listings and commissions, Realtors donate above-average amounts of time and money to charity, according to a report by the National...

12/09/18
Housing markets in coastal cities have been the hottest in recent years, but Trulia predicts that the top markets in 2019 will be inland cities...

12/09/18
In a plan approved Friday, Minneapolis reportedly became the first city to officially undertake the “most ambitious upzoning” plan in the country. Known as Minneapolis...

12/09/18
As the development of personal transportation drones advances, landing pads are emerging as the latest must-have amenity at condominiums for the wealthiest buyers. For example,...

12/09/18
A migration study by LendingTree shows that 12.1 percent of American home buyers who move to a different state choose one in the South. Most...

12/09/18
Billionaire real estate developer and film aficionado Charles Cohen has just closed a deal to purchase Landmark Theatres, a chain of art-house cinemas. Investors Mark...

12/09/18
The owners of Walt Disney’s childhood home on Chicago’s North Side celebrated the completion of a years-long restoration of the property this week — on...

12/08/18
UPDATED, Dec. 9, 12:50 p.m.: City Council’s temporary restraining order to stop four developers from starting work on a set of resi towers in Two...

12/08/18
Multifamily investors looking for places to put their cash may want to consider workforce housing. The market — which is rental communities for low- to...

12/08/18
The proliferation of multifamily housing across major U.S. cities in the last few years has been great for battling the housing crisis in many cities,...

12/08/18
Landmarking is often seen as way of honoring important buildings, and a defense against excessive development. But what if preserving a building comes at the...

12/08/18
George Clooney’s birthday golf trips ended up working out very well for real estate tycoon Mike Meldman. Clooney and his friends would often celebrate his...

12/08/18
The Department of Housing and Urban Development awarded nearly 80 groups with $23 million to investigate housing discrimination. The funds are being provided through HUD’s...

12/08/18
One Thousand Museum is months away from opening and The Real Deal got an inside look at the progress to date. Construction on the 62-story...

12/08/18
Months after broker RKF released a marketing brochure for 401 North Wabash Avenue — known to most Chicagoans as Trump Tower — that did not...

12/08/18
The Trump Group is offering a limited number of brokers’ clients the chance to peruse floor plans and pre-opening prices for The Estates at Acqualina’s...

12/07/18
Real estate tech platform Placester, which was valued at $200 million last year, has laid off more than 100 employees in a companywide restructuring that...

12/07/18
Gucci has extended its lease in Soho for at least 10 years. The company signed a short-term lease at 375 West Broadway last year, its...

12/07/18
The Real Estate Board of New York will raise dues on commercial brokers and property owners by 20 percent next year, sources told The Real...

12/07/18
The latest sponsor unit to close at 432 Park Avenue sold for $15 million. Apartment 41C at CIM Group and Macklowe Properties’ project closed this...

12/07/18
When Miami broker David Landau opened a letter at his Brickell on the River North condo late last month, it had an alarming message to...

12/07/18
The number of industrial buildings coming online nationally slowed slightly in the first nine months of 2018, after several years of strong growth. A total...

12/07/18
Normandy Real Estate Partners is moving ahead with the next phase of one of its warehouse-to-office redevelopments in Long Island City, where investors are looking...

12/07/18
The federal EB-5 visa program received another extension as part of the larger federal spending bill, this time until Dec 21. EB-5 had been set...
  • Event Retail Leasing
  • Building Name Trump Park Avenue
  • Address 502 Park Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 3,000
notes
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From left: Carrie Chiang, Dolly Lenz, Serena Boardman, Leonard Steinberg, Hervé Senequier, Brenda Powers, Elizabeth Lee Sample, Kathy Sloane Manhattan's top real estate agents are as...

Click image for larger versionIt's no secret that many top-notch New York City sales brokers took on pricey rentals last year because high-end apartments were...

Despite a slight drop in its broker ranks, Prudential Douglas Elliman reigns supreme as Manhattan's biggest residential brokerage. But the Corcoran Group, the second-biggest firm...

Olshan-072015_2
Thirty-five contracts were signed in the second week of July for Manhattan apartments priced $4 million and above. The week’s priciest listing was for a penthouse...