Luxury Residence Fund, Equity Estates, has acquired a new Midtown Manhattan penthouse in the award-winning Dillon Building at 425 West 53rd Street. This residence offers three floors of thoughtfully designed living space and features two interior floors, three bedrooms and three baths.

The Dillon is located in the heart of The West Side Arts District (Clinton) and within walking distance of Midtown's business center, Central Park and Hudson River Park as well as Times Square, Lincoln Center, Time Warner Center, MoMA and a myriad of other cultural and dining venues. Equity Estates members can enjoy the neighborhood's eclectic mix of vintage and contemporary as only New York City can offer.

The home has floor to ceiling windows that showcase both northern and southern exposures and a private roof top deck (pictured below). Finishes include wood-plank hardwood flooring throughout and open kitchen with custom millwork and honed white quartz countertops. The building includes a roof top garden plaza for outdoor entertaining, a 24-hour attended lobby and a fitness center.

The Dillon, designed by Smith-Miller + Hawkinson Architects LLP, received the prestigious 2012 Society of American Registered Architects (SARA) New York Council Design Award. The building was also selected to the 2012 Elle Décor Modern Life Concept House.

The purchase was made on behalf of Equity Estates Fund I with reciprocal use offered to the owner members of its newly created second fund, the EE Lone Star Fund. Fund I closed to new investors earlier this year and charter memberships for the Lone Star Fund are also sold out.

New York is a popular location for all the destination clubs and like Equity Estates, many of the clubs have multiple homes in the city.