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Eidolon

Jan 9, 2013 10:47 AM

NEW YORK | 953-961 First Ave | 370 FT | 34 FLOORS

Toll Brothers Pays $64M for Residential Development Site
By Al Barbarino

Quote:

It looks like luxury home builder Toll Brothers may have yet another New York City residential development project on the drawing board after scooping up a financially troubled and stalled development site – once dubbed the Oliver – from Alexico Group for $64 million, The Commercial Observer has learned.

The plans for the new acquisition could not immediately be confirmed, as Toll Brothers did not return calls seeking comment, though the company builds luxury homes and condo developments throughout the United States, in addition to New York City and places further upstate.

The site fell within the grasp of the then embattled developer Harry Macklowe in 2011, who along with Douglas Elliman Chairman Howard Lorber planned to build a residential tower on the site, according to an article that appeared in Crain’s in March 2011.

Toll Brothers Picks Up Midtown East Residential Site for $64M
Tuesday, January 8, 2013,
by Jessica Dailey
http://ny.curbed.com/uploads/953-961-first-ave.jpg

Quote:

We have been watching the 150,000-square-foot site at 953-961 First Avenue for several years, patiently waiting for the hole in the ground to actually become something. Alexico Group tried to build a 161 luxury rental building there, but the developer defaulted on loans and the site went into foreclosure. Now the site is once again on the path toward residential development, but from a different developer. The Commercial Observer reports that Toll Brothers bought the stalled site for $64 million.

New York keeps on booming!

scalziand

Jan 9, 2013 10:22 PM

Is that 150,000 square feet the site foot print or the buildable air rights? It looks like it's a 10,000 square foot site with 15 FAR, for 150,000 square feet.

Crawford

Jan 10, 2013 1:38 AM

Quote:

Originally Posted by scalziand (Post 5966563)

Is that 150,000 square feet the site foot print or the buildable air rights? It looks like it's a 10,000 square foot site with 15 FAR, for 150,000 square feet.

Yes, but Toll Brothers also reported they're buying air rights from adjacent buildings, so we don't really know the building size.

I hope we get something relatively tall and skinny, to move the skyline northwards up the avenue. Hopefully at least 500-600 ft.

yankeesfan1000

Jan 10, 2013 1:48 AM

Nice to hear about the potential for more air rights. This area's getting some decent activity with Two Sutton and 10 UN, now if we could only get the Con Ed/Solow sight going...

NYguy

Jan 23, 2013 10:20 PM

http://www.rew-online.com/2013/01/23...-developments/

Toll Brothers psyched about new Manhattan developments

By REW Staff
January 23, 2013

Quote:

Toll Brothers said this week the company is “very excited” about plans for its two newest Manhattan buildings.

The company purchased two new development sites in Manhattan. The first is located at 953-961
First Avenue, between 52nd and 53rd Streets, in the Midtown East area, and the second is located at 82 King Street, between Hudson and Varick Streets, in SoHo.

Toll Brothers plans to building luxury condominium residences and retail space at both sites.

Douglas C. Yearley, Jr., chief executive officer, said: “We are very excited to have purchased such prominent sites. This will mark our 7th and 8th Manhattan buildings and our 22nd and 23rd in the metro New York City urban area.

There are three new Toll Brothers City Living projects slated to open for sale in Manhattan this year and one new project in Brooklyn, including a 21-story, 81-unit LEED certified building in Gramercy on the corner of 3rd Avenue and 22nd Street called 160 East 22nd; a 40-story, 99-unit glass tower, designed by Pritzker Prize-winning architect Christian de Portzamparc, on the corner of Park Avenue South and 28th Street called 400 Park Avenue South; an 11-unit boutique building, with family-sized floorplans ranging from 2,200 to 7,000 s/f, in Carnegie Hill; and an eco-friendly hotel and condominium community being developed in partnership with Starwood Capital Group, called Pierhouse, adjacent to Pier 1 in Brooklyn Bridge Park.

The new First Avenue site, which already has a poured foundation, is 175,000 s/f and comes with approved plans for a residential tower.

Further downtown, on the west side, the King Street site lends itself to “an exciting lifestyle, offering easy access to the world-renowned boutiques, cafes, and restaurantsˮ that surround it.

yankeesfan1000

Jan 23, 2013 10:52 PM

New building on King St too. Should be interesting to see what they come up with design wise at both sites.

Hypothalamus

Nov 23, 2013 9:21 PM

New details for Toll Brothers’ 961 First Avenue
By: Joyce Chen November 22, 2013

http://news.buzzbuzzhome.com/wp-cont...1st-avenue.jpg
Photo: Massey Knakal

Quote:

Permits have rolled in for Toll Brothers’ latest development at 953-961 First Avenue in Midtown East.

Located between 52nd and 53rd streets, the mixed-use project will have 34 stories and 136 units. The architect of record is Goldstein, Hill & West Architects, according to the plan exam application filed November 21st. The condo tower will include 11,714 square feet of retail space on the ground floor, bike storage, a children’s playroom, a lounge and a courtyard. A triplex will be on the 31st to 33rd floors.
.....

DoB File: PLAN EXAM - IN PROCESS 11/22/2013 (H)
Building Height (ft.): 370
Building Stories: 34
Dwelling Units: 136

:cheers:

Hypothalamus

Apr 13, 2014 4:37 PM

Rendering up on site:

Photo Credit: EastMillinocket @ WNY

http://s17.postimg.org/psl17wagf/IMG_00000097.jpg
©EastMillinocket

mistermetAJ

Apr 14, 2014 3:37 AM

I like it. It has a McGraw-Hill Building vibe to it. Hopefully the brick work is decent.

Quote:

Originally Posted by tubeworm (Post 6537605)

Rendering up on site:

Photo Credit: EastMillinocket @ WNY

http://s17.postimg.org/psl17wagf/IMG_00000097.jpg
©EastMillinocket

Hypothalamus

Apr 14, 2014 3:27 PM

NEW YORK | 953-961 First Ave | 333 FT | 30 FLOORS

More from New York YIMBY:

Revealed: 959 First Avenue
BY: NIKOLAI FEDAK ON APRIL 14TH 2014 AT 6:30 AM

http://www.yimbynews.com/wp-content/...rst-Avenue.jpg

Quote:

The first renderings for 959 First Avenue have been posted on-site, giving a detailed look at Toll Brothers City Living’s latest project to begin construction in Manhattan; Goldstein Hill & West is the architectural firm of record, per filings with the Department of Buildings.

Permits indicate the mixed-use structure will have 197,127 square feet in total, and 9,569 square feet will be dedicated to ground floor retail. The remainder of the project will be divided between 114 residences, and the 30-story building’s pinnacle will stand 333 feet above the street.

[...]

Per on-site signage, completion of 959 First Avenue is expected in the fall of 2016.

http://www.yimbynews.com/wp-content/...t-avenue-2.jpg

http://www.yimbynews.com/wp-content/...foundation.jpg
Foundation work

http://www.yimbynews.com/wp-content/...venue-site.jpg
959 First Avenue, site overview

Title update:
NEW YORK | 953-961 First Ave | 333 FT | 30 FLOORS

chris08876

Apr 14, 2014 3:29 PM

^^^^

Delete. I think I posted this info the same minute you did haha.

sparkling

Jan 12, 2015 10:31 PM

http://d3exkutavo4sli.cloudfront.net...-brothers1.jpg

Joyce Chen
JANUARY 12, 2015

Quote:

Midtown East’s The Sutton by Toll Brothers City Living has pushed out a new teaser site. http://www.thesuttonnyc.com/?cmpid=SGo65

Located at 959 First Avenue off East 53rd Street, the building will offer studio to four-bedroom condominiums. Sales are scheduled to start in early 2015. The 113 “modern vintage” residences will be priced from approximately $850,000 to more than $6 million, according to the official site.

The condo offering plan was accepted in December 2014, with a current total price of $271.6 million.

Curbed gives a little history on the site: Back in 2010, the Alexico Group proposed a 161-unit luxury rental project, with plans for the first rooftop movie screening facility in the city. The developer ran into money troubles, the parcel went into foreclosure and Toll Brothers picked up the land for $64 million in 2013.

Permits were filed November 2013 for a new 30-story building with 187,558 square feet of residential space and 9,569 square feet of retail. The architect of record is Goldstein, Hill & West. Amenities will include a courtyard, lounge, bike storage and children’s playroom, according to the Schedule A filing.

The building was about halfway to its final 333-foot height in late October, according to NY YIMBY.

The development is scheduled for completion in 2016.

http://news.buzzbuzzhome.com/2015/01...ue-sutton.html

sbarn

Jan 13, 2015 1:07 AM

This is nearly topped out.

http://s15.postimg.org/5hts0bud7/IMG_00000403.jpg
From WNY

summersm343

Jan 14, 2015 1:35 AM

Moved. Guess we missed this one. Almost topped out! Whoops!

Design-mind

Jan 14, 2015 2:16 AM

I hope the windows turn out as good as the Abington House on the Highline.

pico44

Jan 15, 2015 12:11 AM

Respects the streetwall. No vast concrete exposures. Cool gridded windows. Am I dreaming or did an architect actually refrain from taking a giant steaming dump on the far east fifties.

Antares41

Jan 15, 2015 7:57 PM

Agreed, nicely integrated into the surrounding environment. Makes a statement while being respectful of the neighborhood; hopefully other will follow this excellent design.:tup:

sparkling

Feb 2, 2015 6:45 PM

First Look At Toll Brothers' Soon-to-Launch East Side Tower

Monday, February 2, 2015
Jessica Dailey

Quote:

The Midtown East condo tower at 959 First Avenue near East 53rd Street has flown under the radar since developer Toll Brothers picked up the formerly stalled site in January 2013, but it's now on the verge of launching sales.

The design team from Incorporated Architecture & Design shared dozens of new renderings of the 30-story tower, showing the condo interiors and amenity spaces, all of which look incredibly typical for a new condo development. The Sutton, as the tower is now known, will hold 114 units, ranging from one- to four-bedrooms, with prices ranging from $850,000 to more than $6 million.

Permits filed with the Department of Buildings indicate that the top three levels will hold a triplex and duplex penthouse.

chris08876

Mar 8, 2015 9:45 PM

https://farm9.staticflickr.com/8585/...f55741db_b.jpg
Credit: https://www.flickr.com/photos/27672048@N00/16747288561/

PeterQM

Apr 16, 2015 5:59 PM

The Sutton, Toll Brothers’ ‘Modern Vintage’ Condo, Tops Out and Gets Motley Skin

http://www.6sqft.com/wp-content/uplo...n-Condo-18.jpg

Quote:

Toll Brothers’ latest condo development The Sutton has reached its 30-story apex and is currently applying a variety of skins to its frame that its designers hope will capture a “modern vintage” aesthetic.

To read more

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