Workers are forming the reinforced concrete columns and floor slabs for 249 East 50th Street as construction has risen above street level in Midtown East. The 15-story, 151-foot-tall residential project is designed by Isaac Stern and is being developed by Tun Kyaw, who purchased the land for $17 million.
New photos show that work on the second story is underway.
249 East 50th street will yield a total of 49,434 square feet of residential space, which will be divided among 29 apartments with an average 1,700 square feet apiece. The first six levels of the structure will house four units per floor and the rest of the upper stories will feature full-floor units. Some residences on the higher levels will have private balconies that face west. Amenities will include bicycle and tenant storage, a laundry room in the cellar, and a recreational room on the top floor.
The nearest subways are the E and M trains at the Lexington Avenue-53rd Street station. Grand Central Terminal is an 11-minute walk away. With its relatively short height, the development is likely to top out before the end of the year, or within the first months of 2020. Surrounded mostly by low-rise structures, 249 East 50th Street should receive abundant daylight exposure. Units on the higher floors will get views of the Midtown skyline, including notable buildings like the Citigroup Center, 885 Third Avenue, aka the Lipstick Building, and the upper portion of the Chrysler Building.
A completion date for 249 East 50th Street has not been announced, though sometime by the end of 2020 seems plausible.