By Holly Dutton
An Upper West Side pre-war rental is transforming into a premier luxury co-op, with a modern twist.
The Chatsworth, a 12-story residential building at 344 West 72nd Street, near the corner of Riverside Drive, has 136 units ranging from two-to-five bedrooms.
The stately Upper West Side conversion is priming itself to be a white-glove co-op that marries classic sophistication with modern style.
HFZ Capital first purchased The Chatsworth, along with partner BSG Real Estate Ltd. at the end of 2012 for $150 million, with the intention of restoring it to its original glory, HFZ founder and chairman Ziel Feldman told the Wall Street Journal at the time.
Lipa Lieberman, David Schechtman, Peter Hauspurg and Azita Aghravi of Eastern Consolidated,
arranged the sale, which included a smaller neighboring building.
Normally known for big new development projects like 11 Beach in Tribeca and One Madison in The Flatiron District, Feldman’s purchase of the pre-war building owned by the same family for decades was surprising to some.
Built in 1904, it was inspired by the 16th century estate of the Duke of Devonshire, Chatsworth House, in North Derbyshire, England.
Distinctive in a neighborhood chock-full of pre-war buildings, The Chatsworth stands out with its Beaux-art architecture and corner spot overlooking the south tip of Riverside Park.
Designated a landmarked in 1984, the building sits just south of Riverside Park on 72nd Street.
Units feature views of the Hudson River, George Washington Bridge, and Riverside Park.
Though located in a busy area, near the West Side Highway, the building is expertly soundproofed, according to Sophia Cicilioni of Corcoran Sunshine, who is the sales director at The Chatsworth.
Talking over a meticulously designed 3D re-creation of the building in the sales center, Cicilioni outlined the building’s renovation plans and layout changes.
The first three floors have unusually large bay windows which will remain, with some modernizations added, including the soundproofing.
“We’ve created new layouts by combining smaller homes,” said Cicilioni. “It changes dramatically from floor to floor. There are a lot of different options, but only one of each.”
One layout in particular has drawn considerable interest from prospective buyers. That plan has 2,928 s/f that includes four bedrooms, a large, square living room with windows on every side, and en suite baths in all of the bedrooms as well as a powder room.
“I honestly believe that more people are staying in the city rather than running away, and are raising kids here,” said Cicilioni. “Three, sometimes four kids in the city… is what is happening. I think it’s amazing to be able to provide them the square footage they need.”
Designed by Pembrooke & Ives, the unit features also include utility rooms with full-size washers and dryers, high ceilings, oak herringbone floors, and large bay windows.
Kitchens have pale grey marble with Wolf, Miele and Gagenau appliances, as well as custom cabinetry with stainless steel hardware and accents.
The master bathrooms feature custom lacquer cabinets and Italian marble, as well as a freestanding soaking tub.
Amenities in the building include a resident lounge with a catering kitchen, activity room, bike storage and additional storage as well.
The Chatsworth actually consists of two buildings — a north and a south building — that do not connect other than through the main lobby.
The lobby is also getting a big makeover, unearthing original skylights that had been covered up and restoring them to bring more light into the area and “bring it to life.”
Prices for the units begin at $2,875,000 and go to over $10 million.
Sales began in early February and the project garnered a lot of attention from prospective buyers, especially families.
“We actually have had people waiting for us to open, and now it’s coming in and absorbing what we know, but it takes more than one visit to understand this building well because it’s unique,” said Cicilioni. “I think people are more used to line A, B, C.”
Only a handful of units have been listed so far, with the first homes expected to be completed toward the summer, with the remaining units rolled out through the rest of 2015 and very early 2016.