Old Stanhope Hotel almost sold out

After a slow start, all but five of the 26 units are in contract at Gary Barnett’s hotel-turned-co-op at 995 Fifth Avenue. From November 2005 to April 2007, most of the new apartments at the old Stanhope Hotel weren’t spoken for. “We had the connotation of the former Stanhope,” Barnett said. “There were small rooms and low ceilings because they dropped them for air-conditioning and stuff.” The new five-bedroom penthouse remains up for grabs for $47.5 million.