search

The Real Deal Logo

Trending

H-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomMacerich faces “imminent” default on $300M Santa Monica Place loanMacerich faces “imminent” default on $300M Santa Monica Place loanLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraud
New York

Is the UES getting a new housing development?

149 East 78th Street
149 East 78th Street

After a single buyer purchased two townhouses on East 78th Street, then entered an agreement to purchase the adjacent townhouse at 149-151 East 78th Street, between Lexington and Third avenues, the New York Observer is speculating that a new residential development could be planned for the block.

The buyer of the three properties, including one which houses the Ackerman Institute therapy center, is Spruce 317 West 77th Street and 78 RPM Owner LLC. After the sale of the Ackerman townhouse closes, the purchaser, who did not respond to the Observer’s request for comment, will have a total of 57 feet of frontage.

Sign Up for the undefined Newsletter

The LLC spent around $29 million for all properties.

The Ackerman Institute townhouse measures 10,000 square feet, five stories and was listed in 2010 for $16.9 million. The center will reportedly need to relocate by October 2013. [NYO] — Zachary Kussin