londonlawyer, knowing how you hate when they raze nice old buildings. I've got some bad news. Felt angry myself when I read this and checked out the pics of the two buildings that were razed.
It just goes to show that even downzoning or in this case, low FAR's on the side streets doesn't discourage development at all. This site only has a FAR of four and they still razed them.
Betcha the replacement will be a plain modern brick box with balconies.
The two properties that were razed were also the two best looking one there.Greystone Buys Two U.E.S. Lots
178-180 E. 93rd St.
By Natalie Dolce
Last updated: November 12, 2007 08:50am
NEW YORK CITY-Julio Bogoricin has sold two contiguous 16-foot-wide lots at 178-180 E. 93rd St. on Manhattan’s Upper East Side in a transaction valued at $8.7 million GlobeSt.com has learned. The identical-sized lots are located on the south side of East 93rd Street between Third and Lexington avenues.
The buyer, New York City-based Greystone Development Group, has the intention of building condos, according to a source close to the deal. The source tells GlobeSt.com that building condos is unconventional in the area--since the area mostly has row houses--and they will be restricted by zoning restrictions since it is a residential zone.
Julio Bogoricin purchased the property last year for $5.6 million, the source explains. He then leveled the buildings and has now resold the land, which contain approximately 1,648 sf for $8.7 million. Combined, they contain approximately 15,240 buildable sf. In spite of the fact that they are located mid-block, not on an avenue, the properties sold for $640 per buildable sf, the source notes.
“Though vacant lots are a rare and desirable commodity in the Upper East Side due to many landmark and zoning restrictions, the final price per buildable sf is an indication of the overall health of the market in this neighborhood,” according to Massey Knakal broker Cory Rosenthal, who exclusively represented the seller with Broker Guthrie Garvin. Massey Knakal Realty Services and Richard Steinberg of Warburg Realty were the brokers in this transaction.
Copyright © 2007 ALM Properties, Inc.
Anti or someone help me out with this basic question. Acording to the article, the ratio of buildable square feet to lot size is 9.2. Yet you say the FAR is 4. What is the difference between the two?
There really isn't a difference. It's just that the writer of the article was mistaken when she said the land was only 1648. Either she was unknowingly mistaken or just not being clear enough.
Each lot is 1678 sf for a combined plot size of 3356. From that you should get a ratio closer to the four that I had mentioned.
Does anybody have info about the development on 610 West 110th? Seems like a condo conversion.
Drove by it the other day. But no info on the website. Google search came up with little. ty
No info but looks very nice though.
Corcoran released 5 apts. today in 610 w. 110, ranging from a $900K one bedroom to a $1.5M 2 bedroom. Average price per sf is a little over $1000. Nice location.
Right across from the Farley PO, this one could be interesting and something to keep an eye on.
The lot is 8600 sf so I'd say it could be anywhere between 15-25 stories, depending on how they go with the massing/setbacks/base/tower.
Let's hope it will be nice as that will become a prominent corner. Please no O'Hara or Kaufman, please.
Parking Lot Across From Penn Station to Go Residential
by Eliot Brown
Published: November 21, 2007
The New York-based Savanna Real Estate Fund is planning a 100,000 square foot mixed-use building across the street from the Farley Post Office and Pennsylvania Station, a corner site home to a parking lot.
The site, 415 Eighth Avenue, is on the southwest corner of Eighth Avenue and 31st Street, a location certain to benefit from the gargantuan amount of development – about $14 billion – envisioned for the immediate area by the state, Vornado Realty Trust, and Related Companies.
Savanna purchased the site for $27,850,000 in early September, according to property records, after the site appeared to have been privately owned since at least the 1980s.
The development plans for the site were announced by Bensen & Associates’ Adelaide Polsinelli, who brokered the sale.
Other representation in the deal came from the Laurie Grasso of Herrick Feinstein for the buyers and Seligson, Rothman & Rothman’s Aaron Seligson for the sellers.
Copyright ©, The New York Observer, L.P.
Ran across this recently-added project on the DeArch, LLC website.
All it says is "Manhattan Tower" with no indication of where the location is or if it's even in Manhattan or just named Manhattan but in another city.
Any guesses? Looks to be 70+ stories.
uh oh -- more of those ^ "only on a computer rendering" rounded windows
That image shows, for a NYC building, LOTS of plaza at street-level plaza space. If it's for real it must be a Hudson Yards area idea.
But methinks it's just a random drawing and nothing more.
Looks like one of those opaque glass buildings that have been thrown up all over the former Soviet Union and show up in special advertising sections in magazines to prove that Whateverstan is modern and can it please get some investment to build more of these now?
The whole facade is one piece of glass.