Locals push for Sutton Place rezoning ahead of auction for site of planned 950-foot tower

Posted On Mon, November 28, 2016 By

Posted On Mon, November 28, 2016 By In condos, New Developments, Policy, Sutton Place 

Despite the fact that the site is headed to the auction block next month, local residents and elected officials are rallying to prevent the possible construction of a 950-foot condo tower on East 58th Street in tony Sutton Place. Curbed reports that the group, which includes Councilmen Ben Kallos and Dan Garodnick and Manhattan Borough President Gale Brewer, have submitted a plan to the City Planning Commission that proposes a height cap of 260 feet for the area bounded by East 52nd and East 59th streets east of First Avenue where there is currently no limit on how tall apartment towers can be.

The actual tower was designed by British starchitect Norman Foster for developer Joseph Beninati of Bauhouse Group. Last spring, Beninati was unable to refinance $130 million in loans, and so this past September, a bankruptcy court ordered the sale of the site to pay back the creditors and partners. Just a week ago, sources said the auction was scheduled for December 13 with bids due by December 8.

But this isn’t stopping opponents, who feel the allowable height is completely out of scale with the low-rise, residential neighborhood (at 950 feet, the tower would be the second-tallest residential building on the east side, behind only the 1,358-foot 432 Park Avenue). They’re hoping the rezoning can be approved before any development work begins. Further delaying the project is the fact that on Wednesday, the Department of Buildings denied a permit application to stabilize a building next door in order to proceed with demolition at the site. Both of these factors may deter bidders, as well as have an impact on the sales price. 6sqft previously reported that the site could fetch “as much as $210 million if it sells for $800 per square foot, which would set a land sale record.”

The Wall Street Journal does note, however, that the group of opponents known as the East River 50s Alliance is made up of “affluent residents of a high-rise co-op across the street from the site, whose views may be blocked by the proposed tower.”

 

[Via Curbed and WSJ]

RELATED:

Tags : , , ,

Neighborhoods : Sutton Place

MOST RECENT ARTICLES

  • Distinctive 1969 modern Westchester County home designed by Frank Lloyd Wright acolyte asks $1.1M

    Distinctive 1969 modern Westchester County home designed by Frank Lloyd Wright acolyte asks $1.1M

    Nestled in a wooded enclave in the tranquil town of Briarcliff Manor in Westchester County, NY, this striking midcentury modern house was built ...
  • Park Slope co-op with custom bookshelves reaching 18 feet asks $1.65M

    Park Slope co-op with custom bookshelves reaching 18 feet asks $1.65M

    A renovation for this Park Slope co-op left it in lovely condition. The lofty floorplan–which boasts 18-foot ceilings–was taken full ...
  • Weekly highlights: Top picks from the 6sqft staff

    Weekly highlights: Top picks from the 6sqft staff

    Swale floating park returns this spring with a new look Kushner Cos. vision for 666 Fifth Avenue has Zaha Hadid ...
  • Stackable furniture line from Debra Folz Design makes storage stylish

    Stackable furniture line from Debra Folz Design makes storage stylish

    There are all types of stackable furniture out there, and while many of them function perfectly well, they’re not always ...
  • This $4M Riverdale mansion, known as the Esmeralda, was built in 1899 and still impresses today

    This $4M Riverdale mansion, known as the Esmeralda, was built in 1899 and still impresses today

    The historic mansions of Riverdale never fail to impress, and this gem is no exception. Built in 1899 and known ...
  • Renzo Piano’s 565 Broome Street on the rise; the world of Hamilton at Green-Wood Cemetery

    Renzo Piano’s 565 Broome Street on the rise; the world of Hamilton at Green-Wood Cemetery

    After launching sales in September, Renzo Piano’s two-towered 565 Broome Street is finally on the rise. [CityRealty] The quest to ...
  • FREE RENT: This week’s roundup of NYC’s rental concessions

    FREE RENT: This week’s roundup of NYC’s rental concessions

    Upper West Side Beaux Arts Beauty ‘The Willard’ Offering Two Months Free, 1-Bedrooms From $2,996/Month [link] Live at LIC’s Hayden: ...
  • 432 Park would have generated $30M for affordable housing with de Blasio’s mansion tax

    432 Park would have generated $30M for affordable housing with de Blasio’s mansion tax

    Outside of 432 Park Avenue, Mayor de Blasio held a press conference on Thursday to discuss his mansion tax. The ...
  • City reveals garment district rezoning plans, citing incentives to move makers to Sunset Park

    City reveals garment district rezoning plans, citing incentives to move makers to Sunset Park

    At a Manhattan community board meeting Wednesday evening, city officials told garment industry representatives of plans to remove Midtown‘s manufacturing ...
  • The Urban Lens: Behind the counter and into the caves at Murray’s Cheese

    The Urban Lens: Behind the counter and into the caves at Murray’s Cheese

    6sqft’s ongoing series The Urban Lens invites photographers to share work exploring a theme or a place within New York City. ...
  • New renderings revealed for NYCHA’s raised earth Red Hook Houses by KPF

    New renderings revealed for NYCHA’s raised earth Red Hook Houses by KPF

    When Superstorm Sandy hit the community of Red Hook, thousands of residents were left without power and basic necessities for ...
  • Judge once again stops work at Pier 55 over environmental concerns

    Judge once again stops work at Pier 55 over environmental concerns

    If you thought the roller coaster that is Pier 55 was over since construction began in November, you may not want ...

SIGN UP FOR OUR NEWSLETTERS

Thank you, your sign-up request was successful!
This email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.