Eichner nears $100M deal to buy Flatiron condo development

Developer Ian Bruce Eichner plans to spend $100 million for a site near the Flatiron Building as well as the air rights of several nearby buildings so he can put up a nearly 800-foot glass condominium tower, the Wall Street Journal reported.

Eichner, of Continuum Company, is within weeks of buying the parcel, at East 22nd Street between Broadway and Park Avenue South, from One Hand Realty LLC.

If the deal closes, the next step would be for the developer to secure construction financing.

The skyscraper, designed by the architecture firm Kohn Pedersen Fox Associates, would make be the tallest structure between the Empire State Building and Downtown. Right now, plans call for the condo to have 90 units.

Fifty feet wide at its base, the tower would “expand like a slender champagne flute” toward the top, the Journal wrote.

Eichner is trained as a lawyer and served as assistant district attorney in Brooklyn and worked in the Rockefeller administration. He developed CitySpire in the early 1990s and not long ago lost out on buying One Madison Park condo tower. [WSJ] – Mark Maurer