[2] The building, which contains five "palatial"[2] units, is easy to spot because of its singular style and bold pink color.[3] The name is taken from the trendy Spanish lollipop called "Chupa Chups"; Schnabel used Chupi as a pet name for his second wife Olatz López Garmendia."[2] According to a description by Penelope Green in the New York Times, Palazzo Chupi is "[c]inematic and lovely inside, [and] the condo-palazzos float like Citizen Kane's Xanadu high above the remains of the West Village."[2] But Andrew Berman, executive director of the Greenwich Village Society for Historic Preservation, describes Schnabel's building as "woefully out of context and a monument to this guy's ego.""[2] The building is situated less than a block outside the New York City Landmarks Preservation Commission's Greenwich Village Historic District Extension I,[5] and sits next door to 354 West 11th Street, a well-preserved Greek Revival row house dating from c.1841-42.