The units, ranging from $200,000-$1,000,000, are marketed with such amenities as concierge service, valet service, a roof-top garden, exclusive access to the mall and membership to a local, high-end health club.
Despite the conversion, the owners kept the hotel's cocktail lounge, beauty salon, coffee shop, dining room and valet service for the convenience of the cooperative residents.
The point of this procedure is to keep the lane (or lanes) of incoming traffic flowing forward so that guests are spared a long wait time for valet service.