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NEW YORK | 145 East 60th Street | 378m | 1240ft | Pro

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#1 · (Edited by Moderator)
#116 ·
Developer Acquires Assemblage At 143 East 60th Street, Plans Residential Tower With Retail, Midtown East

http://newyorkyimby.com/2015/10/developer-acquires-assemblage-at-143-east-60th-street-plans-residential-tower-with-retail-midtown-east.html
Back in June, Kuafu Properties was in contract to purchase the assemblage spanning 143-161 East 60th Street, on the northern edge of Midtown East, and now the Chinese developer has closed on the acquisition, according to Commercial Observer. The site has a nearly 20,000 square-foot footprint, and roughly 280,000 square feet of development potential. Kuafu plans to build a luxury residential tower with a large retail base, although the existing six low-rise buildings must first be demolished.
 
#117 ·
Note: Demo will be occurring shorty on this. Another 250m+ on its way. :cheers:

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Kuafu Properties Completes Buy of $300 Midtown East Site



Kuafu Properties has closed on the purchase of 143-161 East 60th Street between Lexington and Third Avenues for $300 million from the World Wide Group, according to a Cushman & Wakefield news release.

The site contains six attached low-rise buildings that sit on nearly 20,000 square feet, and is located across from Bloomingdale’s flagship store. It contains more than 282,000 buildable square feet.

Kuafu went into contract for the site in June, according to The Real Deal, and the Chinese developer is planning to build a luxury residential tower that could rise more than 1,000 feet tall. Marketing of the property began that same month. A spokesman for Kuafu did not immediately respond for comment.

“I have rarely seen a foreign buyer move so swiftly, yet carefully, to acquire such a major site,”Cushman & Wakefield’s Robert Knakal, who represented the seller with colleague Clint Olsen, said in prepared remarks. “They were totally professional every step of the way.” The buyer didn’t not have broker in the deal.
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http://commercialobserver.com/2015/10/kuafu-properties-completes-buy-of-300-midtown-east-site/
 
#125 · (Edited)
First Look At KPF’s 151 East 60th Street, The Upper East Side’s First Possible Supertall
New York Yimby: http://newyorkyimby.com/2016/02/first-look-at-kpfs-151-east-60th-street-the-upper-east-sides-first-possible-supertall.html



While the design is certainly flashy, the plans are far from a definite go. The entry was for a competition, and while no winner has been publicly announced, even the plans that win RFP submissions typically see major revisions in the translation from renderings to reality. The site’s developer, Kuafu Properties, closed on the assemblage for $300 million back in October.
Nevertheless, the new images give an excellent idea of what’s in store for what could easily become the most prominent high-rise on the Upper East Side.




According to the article, the tower is likely to wait for the next development cycle, like other projects still in planing phase right now. Because of the current market situation, it is likely that only projects being under construction right now will going to be finished in this cycle.


EDIT: Oh, I got a bit confused. There is another thread about this project in the supertall section. I also posted this information there. I think this thread should be closed!
 
#126 ·
First Look At KPF’s 151 East 60th Street, The Upper East Side’s First Possible Supertall
New York Yimby: http://newyorkyimby.com/2016/02/first-look-at-kpfs-151-east-60th-street-the-upper-east-sides-first-possible-supertall.html



While the design is certainly flashy, the plans are far from a definite go. The entry was for a competition, and while no winner has been publicly announced, even the plans that win RFP submissions typically see major revisions in the translation from renderings to reality. The site’s developer, Kuafu Properties, closed on the assemblage for $300 million back in October.
Nevertheless, the new images give an excellent idea of what’s in store for what could easily become the most prominent high-rise on the Upper East Side.




According to the article, the tower is likely to wait for the next development cycle, like other projects still in planing phase right now. Because of the current market situation, it is likely that only projects being under construction right now will going to be finished in this cycle.
 
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