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Thread: 60 East 86th Street

  1. #1

    Default 60 East 86th Street

    New York Times

    September 20, 2013

    And Now, Trying Their Hand at Condos


    The next generation of a prominent New York real estate family business, Glenwood Management, has taken up the mantle at the company and begun its first condominium project.
    Glenwood is one of the city’s largest private landlords and has a long history of building and managing rental apartments, but Howard and Steven Swarzman, the grandsons of Leonard Litwin, the founder of Glenwood, made the decision to take on the condo project at 60 East 86th Street.
    “This came about because my brother, Steven, and I wanted to try this model as opposed to what we’ve developed in the past,” said Howard Swarzman, acknowledging that his grandfather has a “philosophy” of building high-quality rental housing. “But what we’re most concerned with is building the same quality housing we’ve always done,” he said, “whether it be for sale or rental.”
    Along with the Swarzmans, Mr. Litwin is a sponsor of the project, as are several Glenwood executives. While other Manhattan property developers have been flocking to the ultra-high-end condo market where apartments have recently gone into contract for as much as $90 million apiece, Mr. Swarzman said that wasn’t a motivating factor for the Glenwood team.
    The project, called Sixty East Eighty Sixth, a 19-story building that will be built just east of Madison Avenue with 15 full-floor three- or four-bedroom units, will be priced at about $7 million to $20 million an apartment, according to Beth Fisher, a senior managing director of the Corcoran Sunshine Marketing Group, which will be marketing the units.
    The Glenwood team, Mr. Swarzman said, has begun demolition of two existing buildings on East 86th: a 30-foot-wide town house and an adjacent walk-up building, both bought in March for a total of roughly $31 million. The condo tower should be completed by the spring of 2015, he added.
    A small building site and Manhattan’s exorbitant land prices made it impossible to do the sort of rental building with dozens of units that Glenwood typically constructs, even with rents at record levels, Mr. Swarzman said. Sixty East Eighty Sixth will only be about 60,000 square feet, he said; rental buildings are typically around 300,000 square feet.
    Clad in fluted limestone with casement windows and Juliet balconies, Sixty East Eighty Sixth is being designed by a collaboration of the Steven B. Jacobs Group, a previous Glenwood partner, and the Danish architect Thomas Juul-Hansen, a Richard Meier protégée who designed the interiors for pricey Manhattan projects like the Perry Street Residence and One57, a tower under construction on West 57th Street.
    Besides the 12 single-floor units, the project will have three marquee residences: a duplex penthouse with a rooftop and side terrace; a 10th-floor duplex with two terraces; and a ground-floor triplex with a 36-foot-by-30-foot rear garden. Prices will range from $12 million to $20 million.
    The building’s amenities will be on the basement level, including a fitness room, individual storage rooms, a bicycle storage room, a children’s playroom and a wine cellar. The lobby will have a sitting area, a small library and a 24-hour doorman.
    Mr. Juul-Hansen, who tends to favor classic materials, clean lines and minimal furnishings, said his goal at 60 East 86th Street was bridging the contemporary with the traditional.
    “Obviously, this is not downtown, and it’s not the High Line or any other neighborhood that’s sort of up and coming,” he said. “There’s a history here, so what we’ve tried to do is create a building that, on the one hand, is very modern, clean and simple, but on the other hand, is very respectful of the neighborhood and environment.”
    Elevators will open into the full-floor units, arriving at a foyer that separates a private wing with bedrooms and bathrooms from the public rooms. The living rooms and dining areas will be open and spacious with ceiling heights of about 10 feet, or nearly 20 feet in the duplexes and the triplex.
    Floors will be wide-plank oak, except in the kitchens, where they will be Vals quartzite. Mr. Juul-Hansen said that while the building will have large windows, the structure will be a far cry from a contemporary glass tower. “We have beautiful windows, but they’re not just flat pieces of glass,” he said. “They have true divided panes that will add texture to the facade.”
    Only steps away from Central Park, the large residences are designed to have broad appeal, Ms. Fisher said, but may attract families in particular, perhaps those already living on the Upper East Side but looking for newer construction. Ms. Fisher said she could not yet reveal exact pricing for the apartments, but added, “I think the market throughout the city has come to accept that $3,000 per square foot is a baseline number for a luxury condominium on the market. Certainly on the Upper East Side right near Central Park.”

  2. #2

    Default 9 Nov 2013

  3. #3

    Default 22 Feb 2014

    all gone

  4. #4


    new render looks much like the old one

  5. #5
    Crabby airline hostess - stache's Avatar
    Join Date
    Jun 2004
    Nairobi Hilton


    It's funny how we've gone full circle with casement windows.

  6. #6


    Carter Horsley's Preliminary Review of 60 East 86th:

    "The distinctive, 19-story, mid-block, apartment building at 60 East 86th Street between Madison and Park Avenues on the Upper East Side is the first condominium project of Glenwood Management, which has been one of the city’s most successful developers in the post-war period of luxury rental apartment buildings.It is scheduled for completion in 2015 and has 25 units including 12 full-floor apartments, a duplex penthouse, a 10thfloor duplex and a ground-floor triplex.
    It has been designed by Thomas Juul-Hansen and the Stephen B. Jacobs Group."
    Read the rest here:


    "The penthouse has a 35-foot-long living room with a nearly 20-foot-high ceiling"
    That just seems like a waste of volume... Though the bathrooms sounds elegant with the R
    osewood cabinetry, slabs of driftwood marble on the walls and floor.
    Though it all sounds nice, I've never been a huge fan of new buildings that seem to try too hard to achieve an older look.

  7. #7
    Crabby airline hostess - stache's Avatar
    Join Date
    Jun 2004
    Nairobi Hilton


    A room like that would be fantastic for entertaining.

  8. #8

    Default 28 March 2015


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