NEW YORK | 255 East 77th Street | 535 FT | 36 FLOORS

[NYguy]

https://patch.com/new-york/upper-eas...ner-plans-show

500-Foot Tower Coming To Upper East Side Corner, Plans Show
It would appear to be Manhattan's tallest building north of 72nd Street — but contain fewer apartments than the block used to have.


By Nick Garber
Sep 13, 2022

A developer plans to build a 535-foot-tall apartment tower on an Upper East Side corner, in what would appear to be the tallest building ever constructed north of 72nd Street, according to newly filed plans.

The Naftali Group filed plans with the city on Thursday for the new tower at 255 East 77th St., on the corner of Second Avenue. Naftali had paid $72.6 million last year to acquire the five low-rise buildings on the block's south corner, and began demolishing them earlier this year.

Replacing them will be a 36-story tower containing just 55 apartments, according to plans filed with the Department of Buildings. That suggests a continuation of a recent neighborhood trend, in which dense, low-rise apartment buildings are torn down and replaced with sparsely-populated luxury towers.

Indeed, in this case, the two buildings at 1481-1489 Second Ave. that formerly occupied the site contained a combined 63 apartments, amounting to a net loss of housing, according to city records.

Standing 535 feet tall, the new building would surpass the recently-built luxury condominium tower at 180 East 88th St., which, at 524 feet, has been described as Manhattan's tallest building north of 72nd Street.

Designed by Hill West Architects — the same firm behind a 270-foot tower planned for another Second Avenue corner — the tower will also include nearly 4,000 square feet of retail space and 33 indoor parking spaces.

Naftali did not immediately respond to questions about when construction would begin or how long it would last.

The company's other projects include The Benson, a 21-story tower on Madison Avenue; another 39-story tower at 200 East 83rd St.; and a planned 18-story building on the Upper West Side being stymied by a holdout tenant.

[JMKeynes]

With Naftali in charge, this should be amazing.

[jackster99]

^Yah and based on the height of 535 feet, but only containing 55 residences, this will definitely be ultra-luxury.

However the height and location tells me this will face severe community backlash. Does anyone know if he can build this as of right or does it need to face an approvals process?

[NYguy]

Originally Posted by jackster99

^Yah and based on the height of 535 feet, but only containing 55 residences, this will definitely be ultra-luxury.

However the height and location tells me this will face severe community backlash. Does anyone know if he can build this as of right or does it need to face an approvals process?

The new building permit has been filed. Any approvals would have to be granted before it got to that point.

However, the DOB is not without its own approval process, that also takes months from the time a permit is filed until it is granted. It’s the DOB that enforces zoning, and they check every single detail. Literally.

[NYguy]

Overview…

[chris08876]

Solid replacement. A nice design will go well for that corner.

With 55 units, will probably be a very luxurious design and amenities.

[JMKeynes]

The insatiable demand for high-end offices, condos, and hotels in NY is a testament to its status as a world capital.

[chris08876]

Demolition Progresses At 255 East 77th Street On Manhattan’s Upper East Side

Kicking off our annual end-of-year countdown of the 31 tallest projects underway in New York is 255 East 77th Street, a forthcoming 36-story residential tower on Manhattan’s Upper East Side. Designed by Hill West Architects and developed by Naftali Group, the 475-foot-tall structure will yield 170,481 square feet with 55 units, as well as 3,861 square feet of retail space, two cellar levels, and 33 enclosed parking spaces. Alba Services is the general contractor for the property, which is alternately addressed as 1481 Second Avenue and located at the corner of Second Avenue and East 77th Street.

Recent photos show the demolition progress on the three current occupants of the plot. The structures are fully covered in scaffolding and black netting, all windows have been removed, and the upper floors of the northernmost building have already been dismantled. Green plywood boards completely obscure the ground floor of each building.

No renderings have been released for 255 East 77th Street, though based on its height and its relatively low-rise surroundings, it should provide residents on the upper floors with panoramic views of the Midtown skyline. The nearest subway from the property is the Q train at the 72nd Street station along Second Avenue. Also nearby to the west is the 6 train at 77th Street and Lexington Avenue.

Demolition began this summer and the three buildings are planned to be fully razed by the summer of 2023, as noted on site. A completion date for 255 East 77th Street has yet to be announced. However, YIMBY predicts this to occur around the end of 2024 or early 2025 at the very latest.

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NYY

[Drcastro]

So, apparently it shrank to 475’?

[Zapatan]

475' is still good for the UES

[chris08876]

Credit: Michael Young via NYY

[chris08876]

JPMorgan, Starwood Lend $236M on Upper East Side Condo Project

Naftali Group has nabbed $236 million of construction financing for its planned condominium development project on Manhattan’s Upper East Side, the developer announced Wednesday.

JPMorgan and Starwood (STWD) Property Trust provided the loan for the 62-unit condo building at 255 East 77th Street, while Newmark‘s Dustin Stolly, Jordan Roeschlaub , Nick Scribani and Daniel Fromm negotiated the debt.

The 255 East 77th project will add to Naftali’s Manhattan condo property portfolio. It has executed three sold-out condo developments since 2020 including The Benson at 1045 Madison Avenue, 200 East 83rd Street and The Bellemont at 1165 Madison Avenue.

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https://commercialobserver.com/2023/...condo-project/

[chris08876]

Excavation Underway For 36-Story Skyscraper At 255 East 77th Street On Manhattan’s Upper East Side

The 18th-tallest building on our year-end construction countdown is 255 East 77th Street, a 500-foot-tall residential skyscraper in the Yorkville section of Manhattan’s Upper East Side. Developed by Naftali Group with Hill West Architects as the architect of record, the 36-story structure will span 170,481 square feet and yield 62 condominium units, as well as 3,861 square feet of retail space, two cellar levels, and 33 enclosed parking spaces. 255 East 77th St Owner LP is listed as the owner and New Line Structures & Development is the general contractor for the project, which is alternately addressed as 1481 Second Avenue and located at the corner of Second Avenue and East 77th Street.

Excavation and pilings have recently begun on the site, which was still littered with rubble following the completion of demolition at the time of our last update in April. Crews should continue to descend below street level throughout the winter, with the new superstructure potentially beginning its ascent sometime in the first half of next year.

The diagram in the main photo was recently posted to the construction board showing a design that is almost certainly the work of Robert A. M. Stern Architects, bearing an uncanny resemblance to the slightly shorter 200 East 83rd Street a few blocks to the north. The tower features a tall podium with a motor courtyard along East 77th Street, then rises uniformly to the two-thirds mark before a series of gradual setbacks topped with terraces culminate in a tall bulkhead crown with gentle sloping curves. Like its predecessor on East 83rd Street, the tower’s fenestration is interrupted below the midpoint by a set of tall arched windows and cutout terraces, one of the signature touches of RAMSA’s modern take on prewar design.

Naftali Group purchased the property for $73 million in 2021 and recently received $236 million in construction financing from J.P. Morgan and Starwood Capital.

The closest subway from the site is the 6 train at the 77th Street station two avenues to the west.

255 East 77th Street’s anticipated completion date is slated for fall 2026, as noted on site.

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NYY

[chris08876]

Credit: abot