Charles Blaichman snags Fishman’s Kips Bay site for $69M

Permits in place for 29-story residential building

New York /
Sep.September 10, 2013 04:30 PM

Updated: 2:33 p.m., Sept. 11: Charles Blaichman’s CB Developers has paid Fishman Holdings nearly $69 million for a Midtown East development site where permits are in place for a 29-story residential building, according to public records filed with the city today.

The deal for the site — which takes up the entire northeast corner of 50th Street and Second Avenue – closed on Aug. 2 And Includes 301 East 50th Street and 305 East 50th Street, property records show.

The Department of Buildings in April approved plans for a 29-story, 122,359-square-foot tower with 57 residential units and 6,200 square feet of commercial space, records show. The architect of record is COOKFOX Architects.

A representative of Fishman in New York City confirmed the sale but deferred for further comment to senior executives at the firm’s Israeli headquarters, who could not immediately be reached. Blaichman could not be reached for comment by press time.

The lots are one block south of the site of the March 2008 crane collapse at 303 East 51st Street, which killed seven people and damaged nearby buildings. That site is now home to HFZ Capital Group’s Halcyon NY 32-story condominium development, where the 123 units are priced between $1.3 million and just over $10 million.

In May, Blaichman sold a Tribeca development site at 87 Chambers Street for $23 million, having purchased it just a few months earlier from Fishman for $22 million, as The Real Deal reported.

The developer – in partnership with Ironstate Development and SK Development — is also behind the Jefferson condominiums in the East Village, where prices range between $850,000 and $2.5 million.

In July of last year, Fishman sold a long-stalled development site at 5 Franklin Place in Tribeca to Elad Properties, as The Real Deal reported. The project, now being marketed as Franklin Place, launched sales in May with prices between $950,000 and $7.5 million.


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