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http://online.wsj.com/article/SB100...SJ_NY_MIDDLESecondStories#articleTabs=article


J.D. Carlisle Eyeing New Project on Madison

Peter Grant/The Wall Street Journal



J.D. Carlisle properties in Midtown South
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The real-estate company known for such projects as the 54-story Beatrice rental apartment building in Chelsea and the Morton Square condominium in the West Village is assembling a new site, this one in Midtown South.

J.D. Carlisle Development Corp. has purchased the seven-floor building at 166 Madison Ave., adding it to the property it already owns on the block, the vacant lot at 158 Madison. The company, which has roots going back more than 50 years, is planning a residential and retail development on the site.

Before J.D. Carlisle can move forward, it must first buy the three buildings in between the lot and 166 Madison Ave. According to public records, the developer is in contract to buy one of them, 160 Madison Ave.

Meantime, Edward Eden, an attorney who owns 164 Madison Ave., another building on the same row of properties, said he would prefer to "keep it private" when asked about any negotiations that might be going on. The owner of 162 Madison couldn't be reached for comment.

Evan Stein, the president of J.D. Carlisle, said the company was interested in new acquisitions in the area but declined to go into detail. John LaGratta, a director at the firm, said 166 Madison is part of an "assemblage for our development," which the company hopes to begin in early 2013. "With no height restriction, the building will have excellent views, some being of the Empire State Building," Mr. LaGratta said.

Headed by Mr. Stein and Jules Demchick, J.D. Carlisle has developed more than 15 buildings including the Beatrice, which opened in September 2010 with 301 units. The rental has a one-bedroom unit on the market for $4,500 a month; a studio for $3,795; and a two-bedroom for $8,500.

—Alessia Pirolo
 

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Discussion Starter · #2 ·
This ridiculous, Dubai-ish tower (no offense, Dubai) had been planned by the prior developer before the crash. The site has changed hands, and the new owner is attempting to assemble a much larger site. Perhaps a tower in the 250m range might rise here.



 

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Discussion Starter · #6 ·
If there's really no height limit it should just be a supertall :D
I'd guess that it will be around 225m. The area doesn't really warrant anything taller than that, since it's not a high-end location.
 

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Ah, I remember of reading this in another forum. I hope this is a good project, raising in mind that this will be close to the ESB.
 

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Discussion Starter · #10 ·
Another project is planned for directly across the street.
 

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NEW YORK | 158 Madison Ave | 200m+ | Pro

NY REAL ESTATE COMMERCIALJune 10, 2012, 10:40 p.m. ET J.D. Carlisle Eyeing New Project on Madison

Peter Grant/The Wall Street Journal

J.D. Carlisle properties in Midtown South

The real-estate company known for such projects as the 54-story Beatrice rental apartment building in Chelsea and the Morton Square condominium in the West Village is assembling a new site, this one in Midtown South.

J.D. Carlisle Development Corp. has purchased the seven-floor building at 166 Madison Ave., adding it to the property it already owns on the block, the vacant lot at 158 Madison. The company, which has roots going back more than 50 years, is planning a residential and retail development on the site.

Before J.D. Carlisle can move forward, it must first buy the three buildings in between the lot and 166 Madison Ave. According to public records, the developer is in contract to buy one of them, 160 Madison Ave.

Meantime, Edward Eden, an attorney who owns 164 Madison Ave., another building on the same row of properties, said he would prefer to "keep it private" when asked about any negotiations that might be going on. The owner of 162 Madison couldn't be reached for comment.

Evan Stein, the president of J.D. Carlisle, said the company was interested in new acquisitions in the area but declined to go into detail. John LaGratta, a director at the firm, said 166 Madison is part of an "assemblage for our development," which the company hopes to begin in early 2013. "With no height restriction, the building will have excellent views, some being of the Empire State Building," Mr. LaGratta said.

Headed by Mr. Stein and Jules Demchick, J.D. Carlisle has developed more than 15 buildings including the Beatrice, which opened in September 2010 with 301 units. The rental has a one-bedroom unit on the market for $4,500 a month; a studio for $3,795; and a two-bedroom for $8,500.

—Alessia Pirolo
 

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Discussion Starter · #12 · (Edited)
This development consists of a bunch of dilapidated structures. I am intrigued by the developer's comment in the WSJ article that the site has "no height restriction." This is an "emerging area," and therefore, I'm not expecting a 300m+ tower, but a 275m tower would be nice. The developer is the same one that's about to construct 105 W 57th.

I walked by on 1 October 2012 and noted that the bodega in the ground floor of the building on the southeast corner of Madison and E 33rd, 168 Madison, is now empty. Presumably, the developer acquired this site too.



This is what the prior developer had proposed. However, the current developer has acquired all of the lowrise buildings on Madison, which are seen in the foreground. Therefore, a larger tower will rise here. (The roughly 15 story tower on the northeast corner of Madison and 32nd will remain.)

 

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What is the deal with the vacant lot across the street from this on the north side of E 33rd Street? Is there any development proposal for that?
 

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Discussion Starter · #14 ·
What is the deal with the vacant lot across the street from this on the north side of E 33rd Street? Is there any development proposal for that?
This hotel was planned for that site before the crash. I believe that CIM, the developer of 432 Park Ave., recently acquired this site.

 

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Discussion Starter · #17 ·
Development of both sites can't be too far away then, especially with the market heating up.
Interestingly, this site is controlled by JD Carlisle, which is developing 105 W 57th St.

The site across the street is controlled by CIM, the developers of 432 Park.
 

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Discussion Starter · #18 ·
I walked by this site on 7 Nov 2012, and the final tenant, a filthy Korean deli, is now closed. These structures likely will come down in early 2013.

 

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Discussion Starter · #19 ·
There was a lot of interior demolition occurring today. They must complete interior asbestos abatement before this entire block (but for the nice building on the south corner) is razed.
 
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