The Real Deal New York

Levya-designed 23-foot-wide skyscraper hits rental market today

July 13, 2012 09:00AM

From left: Matthew Van Damm and 306 West 48th Street (building credit: Jeff Bachner for the New York Daily News)

Apartments in a revived Hell’s Kitchen tower that is among the city’s skinniest will hit the rental market today, the New York Daily News reported. Town Residential is listing the 122 units at 306 West 48th Street and prices start at $2,800 for a studio, $3,900 for a one-bedroom and $7,000 for a unit with two bedrooms.

As The Real Deal previously reported the units in the 43-story building were originally slated to be sold as condominiums when developed in 2007 by a partnership between Esplanade Capital, Time Square Construction and Navillus Contracting. But the building faced financial difficulties during the recession and legal struggles in 2010, when the attorney general launched an investigation into alleged misappropriation of deposits. At least part of the ownership has sold its stake in the building.

The Daily News noted the building’s unique features: at 23 feet wide it is skinnier than an average Manhattan townhouse, yet architect Ismael Levya built it as tall as allowable on the mid-block lot. The building twists to offer better views, more square-footage and more outdoor space. The tower design was even celebrated in Battery Park’s Skyscraper Museum.

“You have to look at what differentiates this from the competition,” said Matthew Van Damm, Town’s director of operations. “Views are unencumbered by anything around it. Two-thirds of the apartments have outdoor space. People ask about the location. We feel the midtown location in the middle of the city makes this a very international project.” [NYDN]

  • Raging Realtor

    Must feel scary when the wind blows…. TIMBERRRRRRRRRRR

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