The Real Deal New York

CBSK Ironstate gets go-ahead for $143M Murray Hill condo

AG approved plan for 74-unit building at 591 Third
By E.B. Solomont | January 03, 2017 04:43PM

From left: Renderings of 591 Third Avenue, Scott Shnay and David Barry

CBSK Ironstate is kicking off 2017 with the green light to launch sales at the Lindley, its 74-unit condominium project in Murray Hill.

The project, at 591 Third Avenue, was approved last month by the New York state Attorney General’s office. CBSK — a partnership between Charles Blaichman’s CB Developers TRData LogoTINY, David Barry’s Ironstate Development and Scott and Abe Shnay’s SK Development Group — is aiming for a projected sellout of $142.9 million.

Prices will reportedly start at $900,000. The building was designed by Rawlings Architects and the Marketing Directors is handling sales, according to a teaser website launched late last month.

CB Developers picked up the site for the Lindley in 2014, paying $25 million for three adjacent five-story rental buildings, which the developers are replacing with a 20-story, 72,000-square-foot condo.

The Lindley is next to another one of CBSK’s projects: the Frontier, an 18-story, 91-unit rental building. Located at 200 East 39th Street, the Frontier currently has a one-bedroom available that’s asking $3,510 a month and a two-bedroom asking $5,400 a month.

Previously, CBSK developed 301 East 50th Street, a 29-story, 57-unit condo building in Midtown East.  Last year, CBSK sold the building’s 8,200-square-foot retail condo for $25.5 million to the Klein Group, a New Jersey-based landlord.