The Real Deal New York

Euro Group’s Midtown development to hold 29 residential units

Developer purchased property from the Rudd family last year for nearly $50M

September 25, 2014 03:10PM

Euro Group's Neo Que Yao and 118 and 116 East 59th Street pre-demolition

Euro Group’s Neo Que Yau and 118 and 116 East 59th Street pre-demolition

New details on the planned 38-story building coming to 118 East 59th Street, between Park and Lexington avenues, are now available.

Developed by Neo Que Yao of the Euro Properties, the U.S. arm of the Hong Kong-based Euro Group, the 470-foot building is slated to have a total of 70,260 square feet of residential space, divvied up into 29 units, and 6,326 square feet of commercial space, according to new filings spotted by New York YIMBY. By that breakdown, the size of the apartments will average about 2,000 square feet, though the arrangement will result in residences that span entire or multiple floors. SLCE is the architect of record.

A completion date for the project has not yet been announced.

The property changed hands last year when the Rudd family sold the site to Euro Properties for $49 million, as The Real Deal reported at the time. The developer also picked up an adjacent lot for $6.1 million at 116 East 59th Street. [NY YIMBY]Julie Strickland

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