Construction is now complete on The Wales, a newly converted condominium property at 1295 Madison Avenue in the Carnegie Hill section of Manhattan’s Upper East Side. Led by owner-developer Adellco alongside Parisian design studio PINTO, the building features 21 homes and a modest collection of amenity spaces. The property is located at the corner of 92nd Street and Madison Avenue.
The century-old structure was once known as Hotel Wales and is revered by local preservationists for its ornate terracotta and limestone façade. The building’s location and historic prominence required the project team to seek approvals from the Landmarks Preservation Commission (LPC) before any work can break ground. These approvals were achieved in April 2020.
Beyond the residential conversion, Adellco repaired stucco elements on the ground floor, refurbished the historic façade, replaced all the building’s windows, and removed most of the fire escape ladders. The new lobby features coffered ceilings, a decorative fireplace, custom moldings, mirrored walls, and marble floors with black granite accents.
Model apartment at The Wales, 1295 Madison Avenue – Courtesy of VMI Studios
Model bedroom at The Wales, 1295 Madison Avenue – Courtesy of VMI Studios
Residences feature white oak herringbone flooring, custom kitchen cabinetry, name-brand fixtures and appliances, stone countertops, gas ranges, and in-unit washer-dryers. The building’s crown jewel is a five-bedroom penthouse that occupies more than 4,100 square feet across the top two floors. The unit features five full bathrooms, two powder rooms, and more than 3,100 square feet of private outdoor space. The outdoor space includes a wraparound terrace and an outdoor kitchen with a wet bar, a fireplace, and a butler’s pantry.
The amenity spaces include a fitness center, a pet spa and grooming station, bicycle storage, private storage, and a 24-hour doorman and concierge service.
Aerial view of the wrap around terrace and the roof deck at The Wales, 1295 Madison Avenue – Courtesy of VMI Studios
Aerial view of an outdoor terrace and the roof deck at The Wales, 1295 Madison Avenue – Courtesy of VMI Studios
Adellco purchased The Wales from DLJ Real Estate Capital Partners in 2018 for $56.3 million. Condominium closings at the property launched in March 2023 with residences priced from $3.59 million to $23 million for the penthouse. The latter has not yet been purchased.
Corcoran Sunshine Marketing Group is the exclusive sales agent for The Wales’ remaining homes.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
Removing fire escapes is a tricky business as two means of escape are required. I suppose there were internal hallway changes with access to two stairways.
A gorgeous 120yo building that got its beautiful cornice put back. So many buildings like these have been destroyed. The floor plans are pretty decent, some with separate kitchens and actual laundry rooms. You can even rent a 5 bedroom unit for just $45,000 a month.
A gorgeous 120yo building that got its beautiful cornice put back. So many buildings like these have been destroyed. The floor plans are pretty decent, some with separate kitchens and actual laundry rooms. You can even rent a 5 bedroom unit for just $45,000 a month.
This is a great project.
Murray for the restored cornice. Its actually not as large or tall as the originally but in my opinion looks better and certainly a healing for the botched cornice-free parapet look its had for decades.
That should be Hurray…
Yes, please, for me and my wife—I have coupon.