UPDATED, 4:57 p.m., Mar. 18: The former Toy Building, at 10 Madison Square West in the Flatiron District, has unveiled a teaser website and building signage in anticipation of an official sales launch in late spring, according to a spokesperson for the project.
10 Madison Square West
The building will have 125 units made up of one- to five-bedroom condominiums.
Steve Witkoff’s the Witkoff Group is behind the conversion, while Alan Wanzenberg is the designer. Douglas Elliman Development Marketing is handling sales.
As The Real Deal previously reported, the Witkoff Group purchased the 16-story office building, which was a part of the full Toy Center complex, for $191 million in 2011.
10 Madison Square West
Ten Madison Square West is perhaps better known as 1107 Broadway, a property that comes with some history. Tessler Developments bought the property in 2007 for $235 million with plans for a luxe condo development. However, in 2010, Lehman Brothers Holdings sued Tessler to foreclose on a nearly $137 million loan. Yitzhak Tessler told The Real Deal at the time of Witkoff’s purchase that he had settled with Lehman.
The other Toy Center building is located at 200 Fifth Avenue. —Zachary Kussin