The Plaza (1 Central Park South / 768 Fifth Avenue)
1 Central Park South / 768 Fifth Avenue, New York, NY 10019
- Year built
- 1907
- Type
- Mixed-use — condominium residences combined with the historic Plaza Hotel
- Units
- 181
- Floors
- 21
- Landmark
- Designated
- Pets
- Permitted under condominium rules
- Subletting
- Permitted under the condominium declaration
- Pied-à-terre
- Allowed
Every recorded sale at this building, 2007–2026
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $2,421
- Listing discount
- 8.8%
- Recorded sales
- 570
- On record
- 2007–2026
The Plaza at 1 Central Park South / 768 Fifth Avenue is one of the most architecturally and culturally consequential addresses in New York City — a 1907 Henry Janeway Hardenbergh French Renaissance château that has anchored the southeast corner of Central Park for nearly 120 years and that, since the 2008 partial conversion under El Ad Properties, has accommodated 181 condominium residences alongside the continuing Plaza Hotel program. The combination is unusual at this scale: most Manhattan trophy condominiums occupy purpose-built modern towers; The Plaza occupies a Gilded Age landmark that pre-dates the Manhattan apartment-building tradition itself.
Hardenbergh's design — marble base, white brick upper stories, mansard roof — was commissioned at a moment when the corner of Fifth and 59th was being deliberately developed as the city's most theatrical hotel address. The result was the most architecturally ambitious hotel ever built in New York at the time of completion and has remained, by most accountings, the most globally recognizable. The cultural register the building carries is something no purely-residential building in Manhattan can match: the Palm Court, the Oak Bar, the Grand Ballroom, the Plaza facade as it appears in Eloise, Home Alone 2, The Great Gatsby, North by Northwest, and a long catalog of additional cultural references. Owning a residence at The Plaza is owning a unit in an actively-functioning American cultural monument.
The 2008 condominium conversion is the building's defining modern feature. El Ad Properties acquired the hotel in 2004 and invested approximately $450 million in restoration and conversion. The plan preserved the landmarked exterior and the major public interiors (Palm Court, Oak Bar / Oak Room, Grand Ballroom, Edwardian Room — all individually designated interior landmarks) while creating 181 condominium residences in the building's north and east wings. The condominium residences have their own entrance on Central Park South — distinct from the hotel's Fifth Avenue lobby — and operate as a typical luxury Manhattan condominium with full-time doorman, concierge, and the unusual feature of integrated access to the Plaza Hotel's full service infrastructure.
For buyers, The Plaza represents a position in the Manhattan trophy market that has no direct comparable. The closest peers structurally are the other mixed-use trophy hotel-residences (The Pierre at 795 Fifth, The Sherry-Netherland at 781 Fifth, The Carlyle at 35 East 76th), but The Plaza's scale, cultural register, and Central Park South positioning differentiate it from all of them. The buyer profile is global; the price points span a wide range (from studio configurations to multi-floor penthouses); the residency posture varies from full-time New Yorkers to globally mobile buyers who maintain The Plaza as one of several primary residences.
Architecture and unit composition
The 181 condominium residences span configurations from approximately 600 sf studios to multi-floor penthouses exceeding 7,000 sf. The distribution skews toward smaller configurations (the building's north and east wings produced compact apartment plates given the constraints of working within a 1907 hotel envelope); the largest configurations are concentrated in the upper-floor penthouses and combinations.
Hardenbergh's 1907 architectural detail has been preserved throughout the residential portion to the extent feasible within the conversion: parquet floors, original molding profiles where retained, stone counters in renovated kitchens and bathrooms, high ceilings characteristic of pre-war hotel construction. The 2008 conversion added modern building systems (HVAC, plumbing, electrical) while preserving the architectural surfaces and detail.
Central Park views are available from the building's north flank apartments — direct sight lines across Central Park's southern boundary to the Park itself, Wollman Rink in the foreground, and the Manhattan skyline beyond on the far side. East-facing apartments look across Fifth Avenue and Grand Army Plaza to the Plaza fountain and the buildings of upper Fifth. View permanence is essentially absolute — the Grand Army Plaza ensemble has been stable for over a century and is protected by multiple landmark designations.
Building operations
The Plaza residences operate as a luxury condominium with full-time doorman (Central Park South residential entrance), 24-hour concierge, valet service, and integrated access to the Plaza Hotel's broader service infrastructure on an a la carte basis. Residents can order room service from the hotel kitchen, book Plaza Hotel events spaces, dine at the Palm Court / Oak Room / Rose Club, and use hotel fitness and spa facilities.
The mixed-use program produces both advantages and complexities. Advantages: hospitality-grade service infrastructure, dining and entertainment within the building, the cultural cachet of the Plaza brand. Complexities: hotel guest activity in shared circulation, the visibility that comes with the building's profile, ongoing renegotiation of the boundary between residential and hotel use as the building has evolved post-2008.
Specific condominium policies (financing posture beyond standard condo flexibility, common charges and property tax tiers, any building-specific assessments) should be confirmed directly with property management during due diligence. Condominium structures generally permit financing freely and accommodate foreign buyers, pied-à-terre use, and subletting under the declaration — The Plaza's specifics should be confirmed at the apartment level.
Local Law 97
- 2024–2029 annual penalty
- $560,096/yr
- 2030–2034 annual penalty
- $1,214,677/yr
- Per unit / month range
- $286 – $621
Recent sales
The Plaza's recorded turnover is structurally thin: the 2007–2008 condo conversion created 152 residential condos within the historic 1907 hotel, and a meaningful share of subsequent transactions have closed off-market. The defining recent transaction is Unit 1109 at $65.835M (October 2023, off-market) — a ~12,000-sqft top-floor combination at roughly $5,500/sf, the building's all-time recorded high and proof that full-floor Plaza assemblages still clear in the high-$60M range through discreet channels. On the marketed side, the 1007/1009 corner combination closed May 2025 at $21M — a notable benchmark, though it traded at approximately 45% below its 2017 peak ask of $50M, illustrating the Plaza's "trophy-but-illiquid" corner-unit profile. The April 2023 closing of 907 at $10.75M — a small nominal loss versus the seller's 2007 conversion-era basis — captures the broader pattern: the Plaza's original-buyer cohort has rarely realized per-foot growth since the conversion, with off-market combinations and corner-tier inventory carrying the building's recorded pricing.
Recent closings at this building, curated by The Roebling Team research desk. Apartment-level facts are independently verified before publishing; sale prices reflect the recorded transfer amount at the NYC Department of Finance.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Apr 7, 2026 | 1513 | 2 BR · 2.5 BA · 2,285 sf Closed April 7, 2026 at $5.5M. Two-bedroom mid-floor; public listing data-confirmed contract price. | $5,500,000 | $2,407/sf | off-mkt |
| Mar 30, 2026 | 1527 | 1 BR · 1 BA · 698 sf Closed March 30, 2026 at $1.495M. House one-bedroom; public listing data-confirmed. | $1,495,000 | $2,142/sf | off-mkt |
| Apr 7, 2026 | 1013 | 2 BR · 2.5 BA · 2,418 sf Closed March 27, 2026 at $6.9M — 18.82% under the $8.5M asking price. Among the largest 2026-era discounts on a Plaza mid-floor two-bedroom. | $6,900,000 | $2,854/sf | -18.8% |
| Mar 26, 2026 | 1527 | 1 BR · 1 BA · 698 sf | $1,540,223 | $2,207/sf | +6.2% |
| Feb 2, 2026 | 1807 | 1 BR · 1.5 BA · 1,390 sf Closed February 2, 2026 at $3.365M — 15.77% under the $3.995M asking price. Mid-floor House configuration. | $3,365,000 | $2,421/sf | -15.8% |
| Feb 4, 2026 | 1513 | 2 BR · 2.5 BA · 2,285 sf | $5,250,000 | $2,298/sf | -4.5% |
| Jan 30, 2026 | 1621 | 1 BR · 1.5 BA · 902 sf Closed January 23, 2026 at $2.9M — full asking price. Tight ask-to-close on a House one-bedroom. | $2,900,000 | $3,215/sf | +0.0% |
| Feb 6, 2026 | 1907 | 2 BR · 2 BA · 1,378 sf Closed January 21, 2026 (public listing data date Feb 7) at $4.999M — 15.27% under the $5.9M asking price. The deep modern discount-to-ask range remains the Plaza pattern. | $4,999,000 | $3,628/sf | -15.3% |
Market read. Most recent trades (2026) cleared a median $2,421/sf across 8 sales. Median listing discount 8.8% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.
Other recent transfers
| Date | Unit | Price |
|---|---|---|
| Dec 30, 2025 | 3H | $565,000 |
| Dec 3, 2025 | 28 | $28,380,000 |
| Nov 25, 2025 | 6G | $900,000 |
| Oct 20, 2025 | 10E | $708,000 |
| Jun 30, 2025 | 8E | $900,000 |
| May 5, 2025 | 5AA | $995,000 |
Full closing history with price-per-square-foot over time, the complete retrade record, and every line that has traded.
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-01274-1339) and verified listing data. Apartment-level facts (line, condition, asking-price context) curated and cross-verified by The Roebling Team research desk. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price; square footage from recorded condo declarations and offering plans.
What to know if you’re buying
Understand the mixed-use program. Buyers acquire a condominium residence in an actively-functioning luxury hotel. Hotel guest activity in shared spaces is part of the daily-life signature. Buyers who want strict residential privacy may prefer purpose-built modern condominiums (220 CPS, 432 Park, Central Park Tower); buyers who value hotel service integration and the cultural register find The Plaza uniquely positioned.
The 181 residences are not interchangeable. Configurations vary substantially — north-facing Park-view apartments differ from east-facing Grand Army Plaza views, which differ from interior-facing apartments. View, exposure, floor altitude, and renovation history all drive pricing differentiation. View apartments in person.
The hotel services are a la carte. Residents can use Plaza Hotel services but pay separately. Model anticipated service use into the carrying budget alongside standard common charges and property taxes.
Condo flexibility is real. 30–45 day closings; foreign buyers welcome; pied-à-terre and investment use permitted under the declaration; subletting allowed. Confirm any specific restrictions during the contract review process.
Cultural visibility is a feature and a complication. The Plaza is a global tourist destination. Buyers who want anonymity should look elsewhere; buyers who value being part of an active cultural monument will respond.
Mansion tax cliff effects apply at higher price points. Run pricing through the Mansion Tax Calculator.
What to know if you’re selling
Marketing requires global reach. The buyer pool is international. The Plaza's brand recognition produces inbound interest from global wealth centers; access to international broker networks complements public listing channels.
Pricing requires apartment-level context. The building's heterogeneity is substantial; comparable analysis should account for view, exposure, floor altitude, configuration, and the specific apartment's renovation history.
The cultural register is a marketing asset. Listing copy should reference the Hardenbergh architecture, the 2008 El Ad restoration, and the Plaza's cultural significance — these are differentiators that drive both interest and pricing.
Closing timelines are condo-fast. 30–45 days from contract signing to closing.
Comparable buildings
If you're considering The Plaza, also evaluate:
- The Pierre (795 Fifth Avenue) — comparable Fifth Avenue trophy hotel-residence
- The Sherry-Netherland (781 Fifth Avenue) — comparable mixed-use trophy
- The Carlyle (35 East 76th) — Upper East Side trophy hotel-cooperative
- 220 Central Park South — purpose-built modern supertall, pure residential
- One57 — Billionaires' Row supertall with Park Hyatt hotel base
- 740 Park Avenue — pure-residential Gold Coast tier-one (for buyers comparing The Plaza's program against pure-residential alternatives)
The Roebling Team at The Plaza
The Roebling Team at Compass specializes in Central Park West, the Upper East Side, and the broader Park-facing Manhattan trophy market. We publish this building profile because mixed-use trophy buyers and sellers deserve building-specific intelligence — architecture, board culture, transactional mechanics, the realities of the mixed-use program, and pricing at the apartment level — not generic market commentary.
If you're considering a purchase or sale at The Plaza, a 30-minute consultation is the right starting point. We'll bring the full context this page provides plus the transactional specifics your situation requires — financial structuring, comparable analysis at the apartment level, and the pacing strategy that fits your timeline.