The Real Deal New York

Anbau’s shoots for $143M sellout at UWS condo

The 19-unit building at 207 West 79th Street will span 60K sf

November 02, 2016 05:10PM
By Chava Gourarie

Rendering of 207 West 79th Street

Rendering of 207 West 79th Street

The New York State Attorney General’s Office approved Anbau Enterprises’ offering plan for a 13-story luxury building at 207 West 79th Street on the Upper West Side, next door to the landmarked Lucerne Hotel.

The 19-unit building has a sellout target of $142.8 million, for an average price of over $7 million per unit, documents show. The 60,051-square-foot building will replace a five-story row house formerly on the site, and include a 5,000-square-foot commercial unit on the ground floor as well as 19 storage units.

The residences will include two duplexes and three full-floor apartments, and range from two to five bedrooms starting at $3.95 million, according to Anbau. Corcoran Sunshine TRData LogoTINY is marketing the project.

Anbau, headed by Stephen Glascock, purchased the property for $39 million in 2015.  The Landmark Preservation Commission approved Glascock’s 13-story plan in 2014, after rejecting an earlier 16-story design that was taller than the Lucerne and included terraces and a penthouse unit.

Anbau was not immediately available for comment.

In July, the firm landed a $67 million construction loan from Arkansas-based Bank of the Ozarks.

Morris Adjmi was tapped to design the project, which will feature a brick, limestone and terra cotta facade. Anbau received a construction permit in September. Construction is expected to wrap up sometime in late 2017 or early 2018.

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