search

The Real Deal Logo

Trending

Rent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlordsLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aGVA sells Georgetown apartments for $25M in “forced sale” GVA sells Georgetown apartments for $25M in “forced sale” Tony Park and Elad Dror take a gamble on Koreatown office-to-resi conversionTony Park and Elad Dror take a gamble on Koreatown office-to-resi conversion
Popular
New York

50 luxury condos to top $340M UES development

The new mixed-use project will rise at 147 East 86th Street

147 East 86th Street and Lou Ceruzzi of Ceruzzi Properties
147 East 86th Street and Lou Ceruzzi of Ceruzzi Properties

Fifty new luxury condominiums are set to rise on the northeast corner of East 86th Street and Lexington Avenue as a part of 230,000-square-foot mixed-use building.

The $340 million, HOK-designed development will also have 30,000 square feet of retail space, developer Lou Ceruzzi of Ceruzzi Properties, told the Commercial Observer.

Sign Up for the undefined Newsletter

Ceruzzi Properties, Stillman Development International and Kuafu Properties co-own the site, at 147 and 151 East 86th Street.

New York Sports Clubs will occupy 24,000 square feet on the third and fourth floors. Asking prices for the residential portion will be roughly $3,000 per foot.

Demolition of the two existing buildings at the site won’t happen for another nine months — with construction to be completed in 30 months. [NYO] – Christopher Cameron

Tags
Ceruzzi PropertiesUpper East Side