Olympic Tower, A Premiere NYC Condo

Olympic Tower, A Premiere NYC Condo

 

Olympic Tower is a 51-story building in Midtown Manhattan, in New York City on Fifth Avenue, between East 51st Street and East 52nd Street.  The exact address is 641 Fifth Avenue.   It sits right next to St. Patrick’s Cathedral and was built in the tradition of a “World Class” building.   Constructed in 1975, it was built on a site that was occupied by a Best & Company Store that was built in 1947.    It contains 225 condominium apartments and more than 250,000 square feet (23,000 m2) of office space and retail space, it offers views of the cathedral’s buttresses and Fifth Avenue.   Upon construction, it became a prime real estate location for the glitterati of that time.

 

Olympic Towers NYC Condo

 

The planned use of the building was a groundbreaking concept at that time because it was the first mixed use zoned for Fifth Avenue, which had 21 floors of offices, 30 of condominiums and high-end retail on the first floor. It was constructed as a joint venture with Aristotle Onassis and his company, Victory Development, in partnership with Arlen Realty and Development.

 

It was designed by the architectural firm of Skidmore, Owings and Merrill, who also designed the Willis Tower and John Hancock Center in Chicago, as well as many other high-rise buildings in the U.S. and worldwide.

 

The completed building housed some of the most luxurious condos in the world at that time. Adnan Khashoggi had a swimming pool installed in his after the building was constructed; and other notables also lived there.  The NBA offices are located in the tower between the 14th and 20th floors and all elevators are manned by private elevator personnel who direct guests to the apartment door of the person they are visiting; since there are no apartment numbers listed for security reasons.

 

 

Current listings as of August 2012:   studios are currently asking $1,200,000; 1 beds $2,195,000- $2,300,000; 2 bedrooms from $3.7m- $4m; and 3 bedrooms $4.2- $15m

 

 

 

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Further Reading:  How to Buy an Apartment in Manhattan and Get the Best Interest Rate

The Importance of Finding the Best Representation When Buying Real Estate for Sale in Manhattan

What Home Buyers Should Consider When Deciding What Type of Manhattan Housing to Buy

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