The St Regis Residence Club, New York — Two-Bedroom, Three-Bath Residence

A deeded 4/52 Club Interest, meaning 4 weeks' use in every 52, in a two-bedroom residence with three full bathrooms in The St Regis Residence Club. The residence faces Fifth Avenue. Its usable floor area is 1,263 sq ft (117 sq m), larger than the club's average two-bedroom of 1,183 sq ft, and its declared area is 1,458 sq ft (135 sq m). The building is a condominium and the interest is recorded in the owner's name, and in yours on transfer, so it can be sold on, gifted or left in an estate. The residence number is given on enquiry and the ownership documents follow before contract.

The interest carries 28 nights a year: one fixed week in early May, plus 21 floating nights made up of 15 weeknights and up to 6 weekend nights. The fixed week is reserved automatically each Use Year, and the exact week is given on enquiry. Floating nights are booked in the Priority Reservation Period each September, in up to 4 reservations of 1 to 10 nights, and from 1 November on a first come, first served basis. A Use Year runs from the first Friday in January. A two-bedroom residence may be booked as two separate stays, one per side.

Up to 2 eligible use weeks a year may be moved out of New York. They may be exchanged into the St Regis Residence Club, Aspen or The Phoenician Residences, Scottsdale, subject to availability and seasonality. They may be placed in the club's Member Rental Program, which the club runs, subject to availability, with no guarantee of a letting. Or they may be converted to Marriott Bonvoy points. The operator says both the conversion and the rental programme may change, and asks that no interest be bought in expectation of either.

The annual fee for this residence is approximately $19,000, confirmed for the specific residence before contract. It covers club staffing, daily housekeeping, the butler and concierge desks, and the upkeep of the residences and their share of the condominium. New York City assesses property tax on the condominium unit: ask for the current figure alongside the fee. On transfer, New York City Real Property Transfer Tax is 1% of the price where the price is $500,000 or less, as it is here.

A Club Interest carries the hotel's own service rather than a separate residential staff, and a member holds Marriott Bonvoy Platinum Elite status. The club fact sheet sets out what is included in the residence, and the hotel's amenity schedule covers the rest of the building. The list below is drawn from both.

699 to 703 Fifth Avenue, built between 1901 and 1904 by Trowbridge & Livingston for John Jacob Astor IV, with a 1927 extension by Sloan & Robertson. The Landmarks Preservation Commission calls it one of the most elegant Beaux-Arts buildings in New York, records it as rising 19 storeys, and designated it a New York City landmark on 1 November 1988. The club floors were converted by Starwood Vacation Ownership and opened in October 2006, with interiors by Sills Huniford. Residences have 10 foot ceilings, marble bathrooms with a bath and a separate shower, silk wall coverings, carved crown moulding and a kitchenette with a Sub-Zero refrigerator.

Fifth Avenue at 55th Street, between Rockefeller Center and Central Park, which is four blocks north. The E and M trains at Fifth Avenue and 53rd Street are under 500 feet from the door, the F at 57th Street is 0.22 miles away and the N and R at 59th Street 0.23 miles. LaGuardia is the nearest airport at about 10 miles, with John F Kennedy and Newark Liberty the other two. The hotel trades all year, but the club sets fixed weeks by season, so the week attached to an interest matters as much as the residence does.

There is no restriction on a non-resident buying real estate in New York. The interest transfers by deed and is recorded in New York City, and your US adviser will confirm the filings and tax identification numbers you need. When a foreign owner later sells, the buyer must withhold 15% of the amount realised under FIRPTA and pay it to the Internal Revenue Service, subject to the exceptions the IRS sets out, so build that step into the timetable. Take US and UK tax advice before contract. Avory does not give tax advice.

Avory deals with the owner of this residence directly and with Residence Club Member Services in Orlando, which handles the transfer. After you enquire we send the residence number, the exact fixed week, the interest details and the annual fee statement in writing before anything is signed. Request access.