Despite their popularity in other world-class destinations, luxury shared-ownership residences are not particularly common in New York City. Eminently worth seeking out, however, is the Phillips Club, with its prime, yet relatively placid, locale on the Upper West Side, just steps from the many cultural amenities of Lincoln Center and within easy striking distance of the neighborhood’s rich assortment of fine restaurants and shopping venues.
Now in a second phase with 88 residences—the original 92 units launched in 1999 have sold and are wait-listed for resales—the Phillips Club occupies a building that was once home to the Chinese Embassy. Even the most discerning of diplomats would approve of its transformation into a sleek and modern urban outpost, with a combination of studio, one-bedroom, and two-bedroom residences that appeal to a wide range of owners yearning for quality time in the Big Apple.
"Our owners are drawn here for a variety of reasons, but for most it’s a combination of business and pleasure," says Ed Schnatterly, membership director for the Phillips Club. According to Schnatterly, another draw is the ability for owners to book stays on short notice and with greater flexibility than some shared ownership locations. "The typical owner books a stay about four weeks out, which would be unthinkable at some places."
Residences at the Phillips Club are reasonably spacious by New York standards. Studios run about 625 square feet; one-bedroom units range from 578 to 1,144 square feet; and two-bedroom residences are in the 1,135- to 1,461-square-foot range. All come with such furnishings as Herman Miller chairs, plasma televisions, and Bose entertainment systems. Concierge service is available around the clock. And owners enjoy membership privileges at the adjacent Reebok Sports Club, along with use of the club’s business facilities and library.
Pricing: One-eighth ownerships (about 45 days) start at $235,000 for one-bedroom residences up to $325,000 for two bedrooms.
Information: Call 877.644.8900 or visit www.phillipsclub.com