Anbau buys UWS development site for $39M

Developer plans to build 13-story Morris Adjmi-designed condominium at 209 West 79th St.

TRD New York /
Apr.April 24, 2015 12:30 PM

Anbau Enterprises closed on 207 West 79th Street — a site next to the landmarked Lucerne Hotel on the Upper West Side, where the developer plans to build a 13-story condominium — for $39 million, according to property records filed with the city today.

Carlton Management and AMJ Equities are the sellers of the 10,437-square-foot site, which holds more than 104,000 buildable square feet.

In October, Anbau received approval from the Landmarks Preservation Commission to build its new structure at the location. Earlier, the LPC rejected the developer’s plan to build a 16-story building, saying it included unnecessary balconies and was too tall.

Earlier this month, Anbau filed an application to demolish the existing, five-story apartment building that occupies the site.

Morris Adjmi is designing the new building. After knocking off 30 feet from the original design, the condominium will stand 18 feet shorter than the Lucerne, Curbed reported.

The new building will block the Lucerne’s west-facing windows. In the blocks surrounding the new development, at least three other buildings are being replaced with new luxury developments.

Even though the new building was approved unanimously by the LPC, local politicians have opposed the plan.

Anbau is also developing a residential project at 1711 First Avenue, which is slated for completion in 2016.

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