High Quality Content by WIKIPEDIA articles! 1049 5th Avenue is a 23-floor luxury condominium apartment building located in the Upper East Side, New York City. Built in 1928 as the Adams Hotel, the building underwent extensive renovation in its conversion to residential condominiums during the years 1990-1993. When the apartments were first offered for sale in 1991, they were the highest-priced residential apartments ever offered for sale in New York City. Their sale prices set city records in 1993 and 1994.