Adellco permitted to convert former Carnegie Hill hotel to 21-unit condo

Adellco, on December 2, was given a permit for a $7.9 million project to convert the 60,540-square-foot, 90-unit Hotel Wales at 1295 Madison Avenue in Carnegie Hill to a 21-unit condominium.

The plans, pre-filed on December 20, 2019, also call for an increase in the size of the building from a 100-foot tall, 10-story building to a 115-foot tall, 11-story building. The hotel closed earlier this year, City Realty reported.

The project already received approval from the city’s Landmarks Preservation Commission in April. Matthew Adell submitted plans for a 21-unit condo with the New York State Attorney General in August without a sellout price. The file number is CD200207.

The project is described in the DOB filings as: filing to renovate existing building to reduce number of dwelling units, convert existing hotel rooms to residential use at second floor and penthouse. Enlarge former penthouse into 10th floor and create 11th floor. Horizontal and vertical enlargement and construction of new infrastructure stairs throughout. The initial cost as reported in the DOB filing for the work described in this permit application is $7,868,195.

According to the plans, hotel space on the ground and second floor will be converted into a residential lobby and three dwelling units. The project will leave floors three through five with three units per floor, and floors six through nine with two units per floor. The four hotel units and two apartment units on the 10th floor will be converted to the lower half of a penthouse duplex, the upper half of while will occupy the newly constructed 11th floor.

FORM 4 Design Studio will be the architect.

The property was acquired for $56.3 million on November 20, 2018.

This week the developer closed a $5.55 million sale at their seven-unit project with an $88.5 million sellout at 27 East 79th Street on the Upper East Side.

Direct link to Acris document.LINK

Direct link to DOB document.LINK