The Inside Scoop on 1 Fifth Ave. in Greenwich Village

If you know Greenwich Village, you know there are few addresses quite like 1 Fifth Avenue.

This 27-story Art Deco landmark was built in 1927 as a residence hotel, which helps explain some of what makes the apartments—and the building itself—so distinctive today. Designed by architect Harvey Wiley Corbett, it has a spectacular two-story lobby and the kind of pre-war character that is increasingly difficult to find in Manhattan.

The views are a big part of the story

Because 1 Fifth Avenue rises well above the surrounding Village, higher-floor apartments can have remarkable views in several directions. My favorite? South over Washington Square Park and beyond. Depending on the apartment, you can also get views toward the Empire State Building, Midtown, New Jersey and the Village.

And some apartments have something even better: outdoor space. Terraces and combinations are among the building's most interesting—and coveted—opportunities.

There's a little history in the layouts

Here's one of the things I find fascinating about 1 Fifth Avenue: it was originally designed as a hotel, with smaller units that were later converted into apartments. As a result, some of the original apartments can feel a little quirky by today's standards, particularly when it comes to closet space and kitchens.

That's not necessarily a drawback. For the right buyer, it can mean an opportunity to rework the space and create a much more contemporary home while preserving the character of the building.

And then there's Washington Mews

One of my favorite insider details is that 1 Fifth Avenue sits directly next to Washington Mews, the historic cobblestone lane that runs through the heart of the Village. Some apartments actually overlook the Mews, while the co-op has access to a limited number of parking spaces there that are highly sought-after.

It's one of those details you wouldn't necessarily know unless you've spent some time getting to know the building.

Why buyers love 1 Fifth Avenue

What makes 1 Fifth Avenue special isn't just the architecture or the views. It's the combination of old New York character, full-service living and an exceptional Village location. The building has full-time doormen and staff, a live-in superintendent, laundry, storage and a recently renovated residents' social room.

For a buyer, the key is understanding that not every apartment here is the same. Floor, line, exposure, views, outdoor space, original layout and renovation potential can make a significant difference.

That's the real scoop on 1 Fifth Avenue: a building with history and personality, where knowing which apartment to buy can be just as important as deciding to buy in the building itself.