Park Avenue Entrances?
Started by InterestedParties
about 10 years ago
Posts: 42
Member since: May 2013
Discussion about
Is there a premium for a building on Park/Fifth that has a street entrance on the avenue rather than on a side street? Why do some of the addresses have entrances on side streets? I understand the logic of buildings that are more discreet that have Park Avenue locations and don't want Park Avenue addresses, but if you have the address, then don't you want the entrance? Thanks so much!
There are a number of buildings with entrances off 5th Ave and Park Ave. that still have addresses for those Aves. I've seen a few that are one building down from the corner and no part of the building touches those Aves. They have 5th/Park Ave. addresses.
740 Park Avenue . . . is also . . . 71 East 71st Street (side entrance)
1049 Fifth is one of those not on Fifth. They got a variance or something from the city.
There's probably no premium for having the front door on the avenue rather than the side street. For those corner buildings, the entrance is just whatever made most sense for ground-floor layout. E.g., for a narrow building on Fifth the builder would want the whole width for an apartment, rather than waste some on the front door.
Then there're all the corner buildings that use their side-street address rather than their avenue one, e.g. 2 E 67th. The intended market liked that better.
For corner buildings, where the entrance could go either on the street or on the avenue, is the only motivation for street entrances with avenue addresses related to floorplans? Is there a discount for this?
Separately, is there a premium for buildings with discreet addresses (e.g., 2 East 67th)? Or does this just come out as being self-selective in terms of the buyers?
JELJ13--I'm not talking about the new developments that purchased their avenue addresses from churches and other orgatnizations with the original avenue addresses. I'm trying to understand the entrances of pre-war buildings --sorry if I wasn't more specific.
If there's no premium for an avenue entrance, then there's no discount for a side-street entrance.
You can be sure that if, when the buildings went up, people would've paid more for an avenue entrance, that's where the builders would've put them.
My understanding is that when many of these buildings were built they had Avenue entrances. However, once they converted to coops the buildings moved entrances to the side street to accommodate larger 1 st floor apartments and then subsequently cutdown the size of the lobbies.
In the case of 740 Park Avenue/71 East 71st Street, there was a train station at 72nd Street. Not many trains stopped there, but the potential for more probably made the side entrance preferable.
Prior to (non-tenement, elevatored) apartment buildings, a desirable townhouse location was on a side street -- not right in the midst of the hustle-bustle of avenues. Some builders of apartment buildings might have continued with this sentiment/tradition.