The Real Deal New York

Details revealed for 1059 Third Ave. condo project

Manuel Glas-designed property to hold 67 residential units, along with office and retail space

October 01, 2014 01:35PM

1059 Third Avenue

1059 Third Avenue

Chance Gordy’s Real Estate Inverlad Development, in partnership with Steve Mills’ Third Palm Capital, have filed permits for a planned residential tower at 1059 Third Avenue.

The Manuel Glas Architects-designed 30-story, 481-foot-tall building is to hold 105,000 square feet of residential space divided among 67 apartments, according to Department of Buildings filings cited by New York YIMBY. Each unit will total 1,500 square feet on average, with 16-foot floor-to-floor heights. The residences will be condominiums, according to previous reports.

The Corcoran Group’s Tamir Shemesh was hired to market the units.

The second through fourth floors of the property are to contain office and retail space, while mechanical space is to be located on the fifth floor and the sixth through 11th floors will hold two apartments each and half of a duplex. Floor-through apartments will begin on the 13th floor.

The Schedule A filing does not add up to the planned total of 67 units, as YIMBY noted, leaving questions about whether the total unit count or square footage breakdown are off. The property is to measure 127,000 square feet in total, according to the DOB filing.

The tower will replace two of Third Avenue’s last remaining stretches of tenement buildings. The developers paid an entity associated with the Battaglia family $31.5 million for the property in 2012, as The Real Deal reported at the time. [NY YIMBY] Julie Strickland

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