Harry Macklowe’s subsequent small-scale luxurious condominium growth is taking form on the Higher East Aspect.
Macklowe Properties filed permits to redevelop the 12-story, 33-unit rental at 809 Madison Avenue right into a 14-story, 12-unit apartment constructing, Crain’s reported. The undertaking is estimated to value $12 million, although that appears prone to rise.
The property, alternatively addressed at 30 East 68th Road, will embrace retail house on the bottom flooring. Moreover, one of many condos on the higher flooring may have a non-public terrace.
Robert A.M. Stern and SLCE Architects are listed because the architects for the redevelopment. Macklowe didn’t reply to the publication’s request for remark.
A bit of greater than a yr in the past, Macklowe purchased the limestone and brick constructing on the Higher East Aspect’s “Gold Coast” from Churchill Actual Property Holdings for $49 million. Churchill purchased the constructing for $55 million in 2019 and bought off the retail apartment for $9 million in 2024.
The property sits inside the Higher East Aspect historic district and any adjustments to it require approval from the Landmarks Preservation Fee. Macklowe was capable of get the LPC on board together with his plans, sources advised The Actual Deal on the time.
Macklowe is partnering with Abe and Scott Shnay’s SK Improvement on the conversion and flats have been anticipated to promote for greater than $20 million, as of final yr.
Macklowe hasn’t launched a Manhattan growth undertaking in a decade, when he purchased One Wall Road for $585 million. Final yr, the octogenarian bought a Midtown workplace constructing that had been a part of his Tower Fifth growth website, relinquishing his long-held plan to develop a supertall workplace tower on the location.
In June, a New York appellate courtroom ruled against Macklowe in a authorized battle over alleged development defects at 432 Park Avenue, rejecting his bid to power the constructing’s apartment board to cowl his authorized prices or any judgments in opposition to him.
The apartment board sued Macklowe and different builders in 2021, alleging the constructing is “riddled” with defects, together with noise points, flooding, and wall cracks, and claiming Macklowe hid deficiencies whereas serving on the board.
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Macklowe’s former condo project gets new sales team, more price cuts
New York judges deal setback for Harry Macklowe in 432 Park legal battle
