Minrav plans boutique resi building at former Turtle Bay Music School site

Israeli firm planning 20K sf building with 15 units

New York /
Oct.October 30, 2018 05:30 PM

244 East 52nd Street and Minrav Development’s Yehuda Mor (orange) and Lior Carucci (pink) (Credit: Google Maps and Minrav Development)

Minrav Development has filed plans to build a residential property at the longtime home of the Turtle Bay Music School.

The Israel-based firm is looking to construct a seven-story building at 244 East 52nd Street, which is located between Second and Third Avenue. Plans call for a 20,000-square-foot property with 15 units. If approved as proposed, the building would be 75 feet tall and have 50 feet of frontage. Planned amenities for the property include a laundry room, a tenant storage room, an exercise room and a yoga room.

According to Minrav Managing Director Yehuda Mor, his firm not yet decided on whether the units will be rentals or condominiums. The apartments average 1,337 square feet and the top floor has been earmarked for a full-floor unit with a private terrace. He expects the project to be finished by 2020.

“New projects there are limited,” Mor said. “This is a small project so we don’t think we’ll have a problem with demand.”

Minrav acquired the property from Turtle Bay Music School for $11 million last June. The school occupied the location for 83 years. It has since moved to The Corinthian at 345 East 37th Street.

Minrav, which is headed by Mor and Lior Carucci, is currently building a 21-unit condo project at 427 East 90th Street in Yorkville, which has a $57 million projected sellout. It also acquired 368 Third Avenue last May. The company plans to build a 34-story, 103-unit residential building on the site.


Related Articles

arrow_forward_ios
WeWork CEO Sandeep Mathrani (Mathrani/Wikipemedia, Getty)
WeWork says it must correct financial statements
WeWork says it must correct financial statements
601 Madison Ave. and Ben Soleimani (Google Maps, Ben Soleimani)
Ben Soleimani leases 12,000 square feet on Madison Avenue
Ben Soleimani leases 12,000 square feet on Madison Avenue
Rolling Gardens Apartment Homes at 405 Franklin Turnpike in Mahwah NJ (Apartments.com)
Morgan Properties trades NJ multifamily portfolio for $57.5M
Morgan Properties trades NJ multifamily portfolio for $57.5M
645 Madison Avenue (Google Maps)
645 Madison ground lease trades to Titan Golden for $27M
645 Madison ground lease trades to Titan Golden for $27M
Blackstone's Stephen Schwarzman (Getty)
Blackstone buys logistics portfolio for $2.8B
Blackstone buys logistics portfolio for $2.8B
Virtual real estate speculators notch another record deal
Virtual real estate speculators notch another record deal
Virtual real estate speculators notch another record deal
 Jeff Sutton of Wharton Properties, 25 West 34th Street in NYC (Google Maps)
Jeff Sutton’s Midtown hotel project snags Sonder as first tenant
Jeff Sutton’s Midtown hotel project snags Sonder as first tenant
City law protecting commercial tenants upheld on appeal
City law protecting commercial tenants upheld on appeal
City law protecting commercial tenants upheld on appeal
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...