A 25-story rental building across the street from the Metropolitan Museum of Art could be redeveloped by the real estate firm helmed by former Governor Eliot Spitzer, reports Patch.
The proposed project, planned at 985 Fifth Avenue, would rise from a Upper East Side site located between East 79th and East 80th Streets. The existing 25-story structure, completed in 1969, is to be razed to clear the way for a smaller 19-story building featuring just 14 or 15 residential units - down from the 47 rentals in the completed tower.
The Real Deal reports that the new development will be condos, rather than rental apartments, and is targeting "the highest echelon of the market."
Th development site is located in the Metropolitan Museum Historic District, which will subject the project to sign offs by the Landmarks Preservation Commission. SLCE Architects is designing the roughly 210-foot tower, which would have a beige-colored exterior and setbacks on the upper floors.
Construction is not expected to begin until early 2024 at the earliest.
- Upper East Side (Urbanize NYC)