The Real Deal New York

Is the UES getting a new housing development?

December 04, 2012 11:30AM

After a single buyer purchased two townhouses on East 78th Street, then entered an agreement to purchase the adjacent townhouse at 149-151 East 78th Street, between Lexington and Third avenues, the New York Observer is speculating that a new residential development could be planned for the block.

The buyer of the three properties, including one which houses the Ackerman Institute therapy center, is Spruce 317 West 77th Street and 78 RPM Owner LLC. After the sale of the Ackerman townhouse closes, the purchaser, who did not respond to the Observer’s request for comment, will have a total of 57 feet of frontage.

The LLC spent around $29 million for all properties.

The Ackerman Institute townhouse measures 10,000 square feet, five stories and was listed in 2010 for $16.9 million. The center will reportedly need to relocate by October 2013. [NYO]Zachary Kussin