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Old January 8th, 2014, 04:58 PM   #1
RobertWalpole
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NEW YORK | 151 E 86th St | 21 fl | Pro

http://therealdeal.com/blog/2014/01/...n-thorny-deal/
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Old January 9th, 2014, 03:36 AM   #2
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A New Upper East Side 'Skyscraper' Will Rise In Four Years



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The same developer behind super-luxe Noho condo conversion the Schumacher has just snatched up a prime corner lot at the insanely busy intersection of 86th Street and Lexington Avenue. The Real Deal reports that Stillman Development plans to scrap what's currently two non-exciting, low-rise commercial buildings and build "a 210,000-square-foot mixed-use tower with retail on the first four floors of the building and high-end residential units up top."
According to The Real Deal, these existing businesses won't be demolished until their leases expire in two years so this one will be on the back burner for a while...
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Old January 9th, 2014, 04:28 AM   #3
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A New Upper East Side 'Skyscraper' Will Rise In Four Years According to The Real Deal, these existing businesses won't be demolished until their leases expire in two years so this one will be on the back burner for a while...
Two Years??? Dang, I was hoping for ASAP! I'm very happy with this news.

I know in the article they are quoted saying "skyscraper" but.. honestly there is now way this thing is going to be of "skyscraper " height. This should be in the highrise category. It's the freaking Upper East Side.

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Old January 9th, 2014, 05:26 AM   #4
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Two Years??? Dang, I was hoping for ASAP! I'm very happy with this news.

I know in the article they are quoted saying "skyscraper" but.. honestly there is now way this thing is going to be of "skyscraper " height. This should be in the highrise category. It's the freaking Upper East Side.
I agree. The site is roomy enough for more than a sliver which at 200,000 sq. ft. should get this mutha past 500 feet but probably not as high as 650. Will wait for rebuttal.
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Old January 9th, 2014, 06:27 AM   #5
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You won't get a rebuttal here. I know this neighborhood all too well. Besides, the developer should know better what his limits are, pissing off Nymbys is one thing, piss off wealthy UES Nymbys and you might never work in the city again.
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Old January 9th, 2014, 12:42 PM   #6
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Such a tall tower so much north of midtown. Amazing. NYC keep it rolling. <3
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Old January 9th, 2014, 01:54 PM   #7
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Quote:
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I agree. The site is roomy enough for more than a sliver which at 200,000 sq. ft. should get this mutha past 500 feet but probably not as high as 650. Will wait for rebuttal.
I agree. So both Verizon and NYSC will be razed for this project?
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Old January 9th, 2014, 02:02 PM   #8
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Nice, I encourage modern towers on the upper East Side. This area can use some glass, I also like the glass building next to this site.
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Old January 10th, 2014, 06:10 PM   #9
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I agree. So both Verizon and NYSC will be razed for this project?
Yes sir & glad
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Old January 10th, 2014, 06:20 PM   #10
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Nice, I encourage modern towers on the upper East Side. This area can use some glass, I also like the glass building next to this site.
The one across the street? Yea I like it. That's the Lucida Condo courtesy of Extell and Cook & Fox.

Glass would be ok at 151E86 too and would have nothing against it but my preference would be brick like Robert AM Stern and Extell's Brompton Condo just around the corner.

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Old January 10th, 2014, 06:31 PM   #11
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I agree.
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Old January 12th, 2014, 01:27 AM   #12
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This should be in the high rise column. I live right near this area. No way will the neighborhood allow something over 40-50 stories
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Old January 12th, 2014, 02:59 AM   #13
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Agreed on both counts. There will be height limits, and it should be a classic brick building with a limestone base, like the best buildings in the area, e.g. the new condo conversion on 88th.

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Old January 15th, 2014, 12:51 AM   #14
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OK, I'll shift this one to Highrises. If we learn different, it can easily go wherever appropriate.
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Old January 15th, 2014, 05:36 PM   #15
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Vertical_Gotham- love that building
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Old January 22nd, 2014, 07:53 AM   #16
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Deal Struck for Upper East Side Condo Development
http://blogs.wsj.com/metropolis/2014...o-development/
ByKeiko Morris

Developers have finalized a complicated part of a deal that will allow them to build a 21-story luxury condominium tower on the Upper East Side.

Stillman Development International LLC and its partner, Ceruzzi Properties LLC–which is based in Fairfield, Conn.–signed an agreement with Sol Goldman Investments to lease the lower two floors of 147 E. 86th St. and purchase the air rights, an official said. The joint venture is also in contract to purchase the adjacent 151 E. 86th St.

The deal allows the joint venture to complete the footprint for a 210,000 square-foot residential building at the corner of 86th Street and Lexington Avenue with retail on the first four floors, said Matt Crosby, director of Eastern Consolidated, which represented both the buyers and sellers.

Mr. Crosby declined to disclose the terms of the lease and air rights deal.

The development site is situated on a prominent corner of Manhattan real estate, said Roy Stillman, president of Stillman Development, which is based in New York City. “It has visibility,” he said. “It has critical mass, and it has the opportunity for an interesting artistic impression on the fašade.”

The developers are hoping to take advantage of Manhattan’s luxury condominium market, where sale prices set a record last year. The planned development will have about 60 apartments, which will be larger family-sized units, Mr. Stillman said. The building will have an articulated glass fašade, creating movement through the use of different architectural techniques, Mr. Stillman said.

Representatives for the Sol Goldman estate, which is based in New York City, didn’t immediately return calls for comment.

By March, the joint venture is expected to close on an agreement to buy the five-story building at 151 86th St. for $82 million from New York-based Town Sports International Holdings, Inc., owner of fitness facilities including New York Sports Club, Mr. Crosby said. Demolition of the building, which now houses a New York Sports Club, will not take place for at least another two years, he said. Once the tower is built, the fitness club will enter into a 25-year lease for two floors in the building, Mr. Crosby said.

In recent years, apartments in other new luxury condominium developments in the area have sold well, Mr. Crosby said, pointing to The Lucida, an Extell Development Co. project on 86th Street and Lexington Ave.

“That corridor has really come into its own,” Mr. Crosby said.
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Old January 24th, 2014, 07:09 AM   #17
desertpunk
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In all likelihood this tower will be less than 100 meters high but we'll see what kind of design they come up with...
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Old January 24th, 2014, 11:52 AM   #18
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With 21 floors it could be 75-85m with todays floor to ceiling heights.
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Old January 24th, 2014, 09:10 PM   #19
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"Articulated glass?" I anticipate the typical faddish, asymmetric facade with windows at different angles, or at differing widths and intervals, a la Rafael Moneo (see 25 Bond, 101 Warren).

If that's the case, what a missed opportunity.
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Old February 8th, 2014, 07:12 PM   #20
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No glass please. There's enough of it going up in the area. Brick/limestone old school is the way to go.
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