Inverlad Development

March 5, 2016

East 61st Street Condo Finally Reveals Itself, $82.5M Sellout Projected

At the northeast corner of East 61st Street and Second Avenue, a long shrouded condominium project is finally showing us some skin. The 19-story building addressed at 301 East 61st Street exhibits a creamy stone exterior, with inset balconies and vertical fins projecting from a floor-to-ceiling glass curtain wall. The building is being developed by Orlando-based Inverlad Development who purchased the 3,800-square-foot lot for $15.4 million in 2012.
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December 11, 2015

Demolition Begins on 500-Foot UES Condo Replacing the Art & Design Building

Demolition has begun at the Lenox Hill site of a forthcoming 30-story condominium being developed by Orlando-based Inverlad Development and Steve Mills’ Third Palm Capital. The future 45-unit, 481-foot tower will replace the five-story Art & Design Building at 1059 Third Avenue and utilizes development rights from an adjacent apartment building at 1065 Third Avenue, which will also host an entryway for the Lexington/63rd Street station of the Second Avenue Subway. The developers paid an entity associated with the Battaglia family $31.5 million for the property in 2012. Building permits were approved in late October, granting the team the go-ahead to build a narrow, slab-shaped tower designed by Manuel Glas. According to DOB filings, the first three floors will contain office space and a healthcare facility, and above are 32 residential units. The amenity floor on level 12 will feature a fitness center, spa, swimming pool, tenants' lounge, and an outdoor terrace. Above level 13, seventeen full-floor residences will possess commanding views of the burgeoning Billionaires' Row skyline, East River and Central Park.
More details ahead