“Luxury” and “affordable” are not two words that go together often, especially in Manhattan real estate, but that is exactly what is being offered at 254 Park Avenue South. The recently renovated full-service building, which received a full facelift last year, is currently offering generously proportioned one-bedroom homes for $995,000, with some studios available for $570,000.

Located on the northwest corner of Park Avenue and 20th Street in the heart of Gramercy, 254 Park Avenue South is one of the only buildings where potential buyers can purchase a Park Avenue address for under one million dollars. The beautifully appointed Beaux Arts building offers a prestige address in an attractive neighborhood. “To find a true one bedroom apartment home in a pre-war building on Park Avenue for under one million dollars is extremely rare,” noted Daniel Rosen, of 254 Park Avenue South.  “This building offers buyers an amazing opportunity; one that certainly will not be around for long.”

The 13-story pre-war building has retained its 20th century charm while adding modern conveniences – like Bosch appliances in the kitchens and Kohler fixtures in the bathrooms – to the space.  The French limestone building, which was constructed in 1913, is a stand-out structure in the neighborhood, offering soaring 14-foot ceilings and large picture windows.

Some of the one bedroom apartments include a home office, loft space, perfect for additional storage, two bathrooms, including a master bath with soaking tub and stand-alone shower, and two walk in closets.  The studios are equally as impressive with ebony-stained wood floors providing a modern, upscale touch. The building’s marriage of the contemporary and classic gives the space a unique feel that sets it apart from its neighbors.

254 PAS’s common areas are likewise as inviting. The renovated lobby, with 24-hour concierge, uses a palette of warm neutrals, similar to those found in the individual units, in an effort to present a feeling of classic elegance. The building includes a private gym, easily accessible by all residents, and the Park Lounge, a 1,400 square-foot social space that includes a bar, billiards table and poker room, a first for a New York City condominium.

The building’s neighborhood is perhaps its greatest amenity. Located just steps from Madison Square Park, Gramercy Park, Union Square and Greenwich Village, residents can easily take advantage of the nearly 200 restaurants within a 5-block radius. The area also offers prime shopping at major retailers and small boutiques, and is in an ideal location for people commuting to New York University, School of Visual Arts or The New School, all of which are within walking distance. “The location alone makes this building a top destination for discerning buyers,” said Karen Mansour, Director of Sales and Marketing at Prudential Douglas Elliman Developments, the exclusive sales agent for 254 Park Avenue South. “After they see the space it becomes even more obvious that they’re getting one of the best deals in the city.”

Prices for homes at 254 PAS range from $570,000 to $3,200,000 and are now available for immediate occupancy. For more information, please contact the onsite sales center by calling 212-254-2552 or visiting www.254PAS.com.

Overview

After completing an extensive series of renovations, 254 Park Avenue South hopes to entice new residents looking for a pad in the Flatiron District.  Standing 287 feet high and comprised of 211 units, the design of the high-rise building places a huge emphasis on its great location with its extravagant style and luxury.  Rosen Partners, LLC is heading up the conversion which originally was an office tower, followed by rental building, and finally now a luxury condo. The team acquired the building in 2006 and began the all too familiar process of ripping out kitchens and baths and dropping in stainless steel and fresh hardwood flooring. The building has a plain grey façade intertwined with numerous large windows. The ground floor of the building is commercial space.  One thing is for sure, 254 PAS is certain to invoke interest in many professional buyers looking for a comfortable luxury residence that is close to the office.

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