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Dream Penthouse In Historic NYC Building

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Looking for a place to build a palatial penthouse? There may not be a better spot for your pad than 15 Park Row.

The totally raw 10,000-square-foot space could actually become a palace, too, with two ornate turrets shooting three stories into the air over City Hall.

The 391-foot Park Row Building hasn’t been the biggest in town for 106 years, since the Woolworth Building opened across the street in 1909. But with its location just off the grid overlooking City Hall Park, this loft-in-the-making has some of the best views in town. The World Trade Center, the Municipal Building and the Brooklyn Bridge are all right out the window. Just up Broadway is a clear view of the Empire State Building and the rest of midtown.

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 If $19.9 million seems like a lot for the two-story space, which needs a top-to-bottom makeover, it’s actually a steal compared with comps downtown. Smaller penthouses at the Ritz Carlton Battery Park City and Tribeca condo tower 56 Leonard are on the market for $56.5 million and $47 million

Broker Adam Modlin of the Modlin Group estimates it would take another $5 million to $10 million to to turn the 26th and 27th floors into the ultimate downtown home. But for the sheer square footage, and the history, the price is unbeatable.

The building was constructed in 1889 by a syndicate of investors and later bought by August Belmont Jr., the builder of the Long Island racetrack and parts of the IRT subway. The line had its headquarters here, as did The Associated Press, the short street having long been home to Newspaper Row.

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The building was designed by R.H. Robertson, a leading architect of his day with dozens of commissions in the city — including a house for J.P. Morgan Jr., numerous churches and the American Tract Society Building down the block at 150 Nassau St.

Robertson was famous for his decorative buildings, and 15 Park Row is no exception.

The exterior is festooned with rich architectural details including gargoyles, peacocks and preening women, all carved in limestone or cast in copper. From two terraces off the apartment, visitors can almost smooch the gargoyles.

Inside, the space is largely raw, but two intricately detailed wrought-iron staircases spiral up the cupolas.

The building was designated a landmark in 1999, so the city would have to approve any renovations.

But with one of the most picturesque canvases in the city, it seems well worth the time and expense.

Source – Daily News –  CLICK HERE FOR MORE PICTURES

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