The Real Deal New York

Anbau’s shoots for $143M sellout at UWS condo

The 19-unit building at 207 West 79th Street will span 60K sf
Rendering of 207 West 79th Street

Rendering of 207 West 79th Street

The New York State Attorney General’s Office approved Anbau Enterprises’ offering plan for a 13-story luxury building at 207 West 79th Street on the Upper West Side, next door to the landmarked Lucerne Hotel.

The 19-unit building has a sellout target of $142.8 million, for an average price of over $7 million per unit, documents show. The 60,051-square-foot building will replace a five-story row house formerly on the site, and include a 5,000-square-foot commercial unit on the ground floor as well as 19 storage units.

The residences will include two duplexes and three full-floor apartments, and range from two to five bedrooms starting at $3.95 million, according to Anbau. Corcoran Sunshine TRData LogoTINY is marketing the project.

Anbau, headed by Stephen Glascock, purchased the property for $39 million in 2015.  The Landmark Preservation Commission approved Glascock’s 13-story plan in 2014, after rejecting an earlier 16-story design that was taller than the Lucerne and included terraces and a penthouse unit.

Anbau was not immediately available for comment.

In July, the firm landed a $67 million construction loan from Arkansas-based Bank of the Ozarks.

Morris Adjmi was tapped to design the project, which will feature a brick, limestone and terra cotta facade. Anbau received a construction permit in September. Construction is expected to wrap up sometime in late 2017 or early 2018.