Bryant Park Place

Bryant Park Place is a truly one-of-a-kind unique residential co-op situated on West 40th street, directly in between 5th Avenue and 6th Avenue.  It is the only residential building directly facing Bryant Park, which is surrounded on three sides by office buildings and the New York Public Library to the east.  The park itself hosts many seasonal activities, such as Broadway in Bryant Park, the summer outdoor movie series, the Winter Village shops, and of course the free admissions ice-skating rink.  

Despite being in the heart of Midtown, living at Bryant Park Place is surprisingly tranquil.  Most tourist and nightlife activities occur an avenue away at Times Square, the bustling banking towers empty out after work, and all park-related activities shut down well before bedtime (even weddings at the Bryant Park Grill are required to wrap up by 10 pm).  For grocery shopping, Whole Foods is only half a block away at 41st and 6th, while those looking for ethnic variety can try Sunrise Mart at 41st and 5th.

Bryant Park Place actually consists of 4 separate buildings and 96 units, all merged into one lobby with a 24-hour doorman greeting guests at the entryway.  

32 West 40th Street is known as the "main building", sporting two elevators that reach all A thru F lines on floors 1 through PH.  

28 West 40th Street which is a brownstone (originally Dr. Wylie's mansion) includes the lines N and S. Residents on this side of the building don't have elevator access but instead have access to gorgeous wide stairs with antique carved woodwork walls and handrails. The units (except for one) are only 1, 2, or 3 flights up so it isn't a difficult climb at all and in fact saves time from having to wait for an elevator.

The K thru L lines are in the side building while the G H  & J units are in the back building fronting 39th Street., which depending on the unit are accessed either by the stairs, a separate elevator bank, or through a connection to the main building on the 4th floor.

The co-op includes secured storage facilities in the basement for a nominal extra fee per month, as well as a basement laundry room and bike storage area.  A secondary laundry area exists for residents in 28 West 40th Street, and guests who visit can hang out either in the lobby lounge sitting area, or indulge at LadyM downstairs for dessert and coffee.

As co-ops go, the building has one of the more generous sublet and residency policies.  Pied-à-terres are allowed, and given the proximity to the theater district, owners are likely to use it often!  Owners are also allowed, subject to board approval, up to 2 years of subletting their units (3 months of maintenance required as a sublet fee per year, in addition to application and moving fees).

The co-op maintenance charges are significantly lower than comparable co-ops nearby, thanks to the leadership from an experienced board of directors and commercial rental income from valuable commercial tenants including Chipotle, LadyM, and Royce Chocolates.  Each share pays $62.91 per year in maintenance, of which $30.69 is real estate tax and $1.20 is mortgage interest.  For the past several years, each share has also paid $22.07 per year in special assessments to modernize the building elevators and boiler.  Even with the assessment, accounting firm Miller & Cusenza oversees the financials for over 200 condos and co-ops in NYC, and remarks that Bryant Park Place has among the lowest common charges among similar buildings.