The Real Deal New York

Sutton Place residents feel tricked over new skyscraper’s height

Bauhouse is planning a 900-foot-tall tower near the swanky complex
July 07, 2015 09:00AM

Sutton Place residents say they are feeling tricked.

A planned condo tower that is set to rise next to the posh Sutton Place could end up being much taller than initially proposed and they feel that they sold a developer air rights under false pretenses.

While residents of the swanky complex thought that the new, Bauhouse Group-developed building would be anywhere between 13 and 30 stories, the New York Daily News reported, the new plans show a 90-story, 900-foot-tall skyscraper.

Joseph Beninati’s Bauhouse bought air rights from 434 East 58th Street for $11 million late last year, after telling locals during a meeting in December that the tower would probably be around 13 stories, the newspaper reported. In April, the developer reportedly changed his tune and distributed flyers with the new size of the building.

“It appears the developer got the residents to sell the air rights by misleading them into believing the building would be no more than 30 stories,” Arthur Schwartz, a spokesman for some of the building’s residents told the Daily News. “Before the ink was even dry, the developer turned around and announced plans for a $1 billion, 90-story mega-tower, one of the largest condos in the country.”

Bauhouse responded that the plans changed over time, as the developer amassed air rights for the project.

“As the complex assemblage continued into 2015,” a Bauhouse representative told the Daily News, “the size of the building increased.” [NYDN] — Claire Moses