New York City
36 CENTRAL PARK SOUTH – HELMSLEY PARK LANE HOTEL
In a proposed collaboration with BVLGARI® Hotels and Residences, Atelier represented the potential purchaser with this unique development opportunity to convert this forty-seven story, located in the historic and highly desirable Plaza District, into 77 ultra-luxury BVLGARI® Residences for sale and BVLGARI® 72-key luxury hotel (5-star) featuring a health spa, swimming pool, roof deck, restaurant, lounge and indoor parking. The existing building is 47 stories and is projected to rise 51 stories with the addition of 4 additional penthouse floors featuring terraces at the setbacks facing Central Park. There is no height restriction on the building, allowing the development to construct unusually high ceilings.
Both the Hotel and Residences were to be designed and constructed with green, sustainable materials and environmentally responsible construction means and methods pursuant to the Sponsor's commitment to USGBC LEED Gold Certification level. Antonio Citterio or a "star designer" of his caliber will craft the interiors which will incorporate BVLGARI® luxury with environmentally responsible quality, attention to hospitality, unsurpassed experience, contemporary design and international style featuring a futuristic feel, sleek hard surfaces and natural materials. The completed development totals 490,287 square feet, divided between the Condominium's 340,954 square feet and 149,333 for the Hotel.
Our repositioning strategy would have effectively transform the Park Lane Hotel into one of the most prestigious and spectacular BVLGARI® luxury hotel and residences in the world, featuring exclusive and rare homes with spacious duplexed layouts, living rooms with 17 foot ceilings and floor to ceiling windows. Atelier created the project underwriting, financial model, development plan and made the introduction to BVLGARI. Project Total: $885m