The Sherry-Netherland

An illustrious history with some tragedy

The Sherry Netherlands was built on a grand scale by Gilded Age restauranteur and confectioner Louis Sherry. Whether a relatively compact studio, a part of a sprawling penthouse or the building’s palatial ballroom-cum-residents lounge, every room was proportioned with oversized dimensions. The strategically positioned site was previously occupied by the William Waldorf Astor-backed Hotel New Netherland, completed in 1890. During its 1926 demolition and the subsequent construction of the new building, the project sustained a massive fire — visible as far as Long Island, certain reports claimed. It was an event that incited debate and much needed improvements when it came to fire safety. Owing to the scrappiness of its developers — and perhaps also the lack of regulation — the new 560-foot-tall structure was completed a year later. Carved limestone panels created by renowned Austrian American sculptor Karl Bitter were salvaged from the porte-cochere of the Vanderbilt mansion across the street, which was also undergoing demolition and making way for a new midrise. These large decorative elements were installed in The Sherry Netherland’s groin-vaulted lobby, alongside marble-veneered pilasters and gilded Italian Renaissance capitals, both articulated in a Jacobean style. Its Art Deco-style, Raphaelite-inspired ceiling frescos were meticulously restored in 2014. After passing through different hands over the course of the early 20th-century, the building was converted into an apartment hotel in 1954, combining co-op residences and a handful of units reserved for short-term leasing with an exclusive collection of 50 hotel guestrooms. The Sherry Netherlands gained landmark status in 1981 when the Upper East Side Historic District was founded.

Converted studios to massive full floor penthouses

Relatively compact 350 to 800 square-foot studios and one bedrooms, what were previously standard guestrooms, are competitively priced for the area; fetching $350,000 to $750,000. A significant amount of the building’s co-op stock is two to three bedrooms, many of which are combined units. These fetch between $1.5 Million and $8 Million. Pricing depends heavily on size, condition, and position within the building. Units that look out onto the park and 5th Avenue garner a premium compared to those that face the interior of the block. In the tower portion, above the 24th floor, each unit covers the entire level and features deep setback-anchored terraces. These grand homes — incorporating multiple en suite bedrooms, dressing rooms, secluded dens and multiple living rooms — range in price from $12 Million to $35 Million.

Though owners are allowed to do renovations, they need to follow the co-op’s not particularly stringent alteration policy. That said, much of the original crown molding, parquet flooring and ornamental ceilings have been preserved across the offering. “I would venture to say that if someone is buying into The Sherry, they wouldn’t want to turn their place into a contemporary loft,” says Chandler. “There’s plenty of that in other New York City buildings.” It’s the same for many of the well maintained and periodically restored common spaces, where perhaps only practical elements like the carpeting have been updated. “There are small touches like the hand-painted door numbers that really make the difference.”

Five-star hotel services offered across the board and a legendary great room haunt to boot

Regardless of whether someone is staying in one of the hotel rooms or residing in a co-op unit, they benefit from the establishment’s full suite of services. This includes a twice daily maid service with laundry and dry cleaning provided upon request. Larger residences can contain in unit washer/dryers. The in-hotel Cipriani’s restaurant offers up a discounted room service menu. The previously mentioned basement lounge and ballroom, named Doubles, is another key amenity. “It plays host to a fabulous private dinner club that residents can join as well as lavish Gilded Age-inspired parties, especially on Halloween and Christmas,” Chandler notes. “There’s also a country club style gym. It’s no Equinox but it does contain state of the art equipment and Peloton bikes.” Most residents and guests utilize the Icon Parking garage across 59th Street, which offers favorable daily and monthly rates. There’s also valet service provided from The Sherry Netherland’s lobby, also helmed by white-gloved porters, 24/7 door attendants and concierges. Getting out of town is easy with the Ed Koch Queensboro Bridge perched at the end of this thoroughfare.

Prime centrality in Manhattan and reliable connections to other parts of town

“One of The Sherry’s main draws is its location at the corner of 5th Avenue and Central Park South,” Chandler says. “It’s really the crossroads of the world when it comes to commerce, the arts, fashion, you name it.” The building is at the very top of what is colloquially dubbed the Magic Mile, not to be confused with the Museum Mile further north. This segment of 5th Avenue is home to the long-established luxury department store Bergdorf Goodman and legendary jeweler Tiffany & Co. Even more premium boutiques line nearby Madison Avenue. Top ranked restaurants abound in the adjacent Upper East Side and Midtown Manhattan neighborhoods, where major cultural institutions like Carnegie Hall and The Museum of Modern Art are also found. Commuters looking to get downtown can take the N, R and W subways from the 5th Avenue, 59th Street station right outside the building’s entrance. The Sherry Netherland directly faces Central Park’s 843 acres of activity-rich green space.