Harry Macklowe’s subsequent small-scale luxurious condominium improvement is taking form on the Higher East Facet.
Macklowe Properties filed permits to redevelop the 12-story, 33-unit rental at 809 Madison Avenue right into a 14-story, 12-unit apartment constructing, Crain’s reported. The undertaking is estimated to price $12 million, although that appears more likely to rise.
The property, alternatively addressed at 30 East 68th Road, will embrace retail house on the bottom flooring. Moreover, one of many condos on the higher flooring could have a non-public terrace.
Robert A.M. Stern and SLCE Architects are listed because the architects for the redevelopment. Macklowe didn’t reply to the publication’s request for remark.
Somewhat greater than a 12 months in the past, Macklowe purchased the limestone and brick constructing on the Higher East Facet’s “Gold Coast” from Churchill Actual Property Holdings for $49 million. Churchill purchased the constructing for $55 million in 2019 and bought off the retail apartment for $9 million in 2024.
The property sits throughout the Higher East Facet historic district and any adjustments to it require approval from the Landmarks Preservation Fee. Macklowe was capable of get the LPC on board together with his plans, sources advised The Actual Deal on the time.
Macklowe is partnering with Abe and Scott Shnay’s SK Growth on the conversion and residences had been anticipated to promote for greater than $20 million, as of final 12 months.
Macklowe hasn’t launched a Manhattan improvement undertaking in a decade, when he purchased One Wall Road for $585 million. Final 12 months, the octogenarian bought a Midtown workplace constructing that had been a part of his Tower Fifth improvement web site, relinquishing his long-held plan to develop a supertall workplace tower on the positioning.
In June, a New York appellate courtroom ruled against Macklowe in a authorized battle over alleged building defects at 432 Park Avenue, rejecting his bid to power the constructing’s apartment board to cowl his authorized prices or any judgments towards him.
The apartment board sued Macklowe and different builders in 2021, alleging the constructing is “riddled” with defects, together with noise points, flooding, and wall cracks, and claiming Macklowe hid deficiencies whereas serving on the board.
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Macklowe’s former condo project gets new sales team, more price cuts
New York judges deal setback for Harry Macklowe in 432 Park legal battle
