Walk south from 14th Street. As the grid starts to buckle and the air feels just a little bit more expensive, you’ll see it. It’s that towering Art Deco sentinel standing right at the foot of Fifth Avenue. Honestly, One Fifth Avenue isn't just a building. It is a mood. It’s a 27-story monument to New York’s transition from the Gilded Age into the Jazz Age, and it still manages to look down its nose at the glass towers of Hudson Yards.
People talk about "trophy buildings" like they’re a new invention. They aren't. One Fifth Avenue has been winning that game since 1927.
If you’ve ever stood in Washington Square Park and looked up, you’ve seen those brick setbacks. They look like they were carved out of a single block of stone. Most people assume it’s just another high-end apartment complex. They're wrong. It started as a hotel, and that DNA—that sense of transient, high-society glamour—is still baked into the lobby's floorboards.
The Art Deco Giant That Changed the Village Skyline
The architects, Harvey Wiley Corbett and his partners, weren't messing around. In the late 1920s, the "skyscraper style" was the new drug of the architectural world. One Fifth Avenue was built to be a residential hotel, which was basically a loophole. Back then, zoning laws were weirdly specific. You couldn't build a massive apartment house in this part of the Village, but a "hotel"? Sure, go for it.
The result was a brick-and-terracotta masterpiece. It has these subtle Gothic touches if you look closely enough at the top. It’s sort of intimidating but also weirdly welcoming. Most residents will tell you the best part isn't the view of the Empire State Building—though that’s incredible—it’s the way the light hits the brick at 4:00 PM.
It’s heavy. It feels permanent. In a city that tears itself down every twenty years, One Fifth Avenue feels like it’s going absolutely nowhere.
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Famous Faces and the "Power" of the Co-op Board
Living here isn't just about having the money. You need the pedigree. Or at least a very good lawyer and a clean tax return. Over the decades, the roster of residents has read like a "who’s who" of New York intellectual and creative life.
We’re talking about people like Brian De Palma, who filmed scenes for Dressed to Kill nearby and lived within these walls. Keith Richards has owned here. Tim Burton and Helena Bonham Carter famously had their own setups. This isn't the kind of building where people are looking for "amenities" like a simulated golf range or a pet spa. They’re looking for high ceilings, thick walls, and the kind of neighbors who won't ask for an autograph in the elevator.
The transition from a hotel to a co-op in the late 70s was a turning point. That’s when it became a "fortress." Co-ops in New York are notoriously picky, and One Fifth is the gold standard of pickiness. You don't just buy a unit; you interview for the privilege of paying a few million dollars for a one-bedroom with "character."
What Most People Get Wrong About the Layouts
There’s a common misconception that every apartment at One Fifth Avenue is a sprawling mansion. Actually, because it was originally a hotel, the floor plans are all over the place.
You’ve got tiny studios that feel like upscale monk cells. Then, you’ve got the massive duplexes in the tower that have 360-degree views of the Manhattan skyline. Some of the most sought-after units are the "terrace" apartments on the setback levels. Having a private terrace overlooking Washington Square Park is basically the New York version of owning a private island.
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- The Tower Units: These are the crown jewels. Most have been renovated dozens of times, stripping away the 1920s plaster for minimalist glass and steel.
- The Lower Floors: Often darker, but they have that "old world" Village vibe with original moldings and parquet floors that creak in exactly the right way.
- The Annex: Don't forget the smaller, lower section attached to the main tower. It’s a bit more intimate.
The building is a maze. Navigating the different elevator banks can be a nightmare for first-time guests. But that’s part of the charm. It’s not a cookie-cutter box. It’s a puzzle.
The Cultural Weight of the Ground Floor
If you know, you know. The ground floor has hosted legendary spaces. Most notably, the restaurant One Fifth. In the late 70s and 80s, it was the spot. It had this nautical theme—actually using salvaged decor from a 1930s ocean liner, the RMS Caronia.
It was the kind of place where you’d see SNL cast members, artists from the SoHo scene, and Wall Street guys who wanted to feel "edgy." Today, the commercial space still anchors that corner, but the ghosts of the old Village are still there if you look for them. It’s the intersection of old-money Fifth Avenue and the bohemian chaos of the Village.
Why Investors Still Eye This Address
Is it a good investment? Well, "good" is relative. One Fifth Avenue doesn't see the wild price appreciation of a new development on Billionaires' Row. It’s more like a blue-chip stock. It holds its value because they aren't making any more 1927 Art Deco skyscrapers on the park.
Real estate pros like to point out the "carrying costs" here. Because it’s a full-service building with a massive staff, the monthly maintenance fees can be eye-watering. You’re paying for the white-glove doormen, the hand-operated elevators (though most are automated now), and the sheer prestige of the zip code.
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The Reality of Living Above the Park
Living on Washington Square Park sounds like a dream until you realize the park never sleeps. The buskers, the protests, the NYU students, the jazz musicians—it’s a 24/7 soundtrack.
High-floor residents at One Fifth Avenue get the best of both worlds. They get the energy of the park without the literal noise of the drum circles. If you’re on a lower floor facing the park, you’d better love the sound of New York. Honestly, if you want quiet, you move to the Upper East Side. You move to One Fifth Avenue because you want to be in the middle of the mess, just slightly elevated above it.
How to Actually Get In (Or Just Visit)
You can't just wander into the lobby. The doormen are polite but firm. They’ve seen every tourist try to sneak a photo of the Deco interior. However, if you're serious about the building, there are a few ways to experience it:
- Check the Public Listings: Occasionally, a smaller unit in the annex or a lower floor hits the market for under $1.5 million. It’s rare, but it happens.
- The Restaurant Strategy: Keep an eye on whoever is currently occupying the ground-floor restaurant space. It’s the only way to sit inside the building’s footprint without an invite.
- The Walking Tour: Start at the arch in Washington Square Park. Walk north. Notice how the building frames the entire view. It was designed to be the "gateway" to Fifth Avenue.
Moving Forward with Your Search
If you’re researching One Fifth Avenue for a potential move or just out of historical curiosity, don't stop at the Zillow listing. The history of this building is buried in the NYC Department of Buildings archives and old New York Times real estate columns from the 1920s.
- Step 1: Look up the "Proprietary Lease" rules for the building if you're a buyer. This co-op has specific rules about "pied-à-terre" usage and subletting that can be deal-breakers.
- Step 2: Visit the area at different times of day. The vibe at 10:00 AM on a Tuesday is vastly different from 11:00 PM on a Saturday.
- Step 3: Talk to a local Greenwich Village broker who specializes in "Pre-war Co-ops." They often have "pocket listings" (apartments not yet on the public market) because residents here value privacy above all else.
One Fifth Avenue isn't just real estate; it's a piece of the city's soul. It’s proof that even in a city obsessed with the "next big thing," the old guard still knows how to command a room. Or a park.