Elk Investors

232 East 54th Street Tops Out at 420 Feet in Midtown East

Construction at 232 East 54th Street has topped out. The structure stands 420 feet tall above Midtown East and is being designed by Ismael Leyva Architects. YIMBY last reported that Elk Investors was listed as the exclusive developer of the building, but ownership may have fully transferred to Mossanen Group and an LLC known as East 54th St. Properties. The tower was originally slated to only rise around 20 stories, but this scope was doubled to 40.

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232 East 54th Street Tops Out in Sutton Place, Manhattan

232 East 54th Street has topped-out, and now stands 24 stories above a 5,000 square foot plot of land in the Midtown East neighborhood of Sutton Place, between Second and Third Avenues. Ismael Leyva Architects is the designer while Elias Kalimian of Elk Investors is the developer of the project. The 237-foot tall mixed-use building covers 59,381 square feet, and will have 75 units within averaging close to 800 square feet apiece.

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139 Orchard Street

Developers Acquire Stalled 16-Story, 98-Key Hotel Project at 139 Orchard Street, Lower East Side

In 2011, D.A.B. Group defaulted on the mortgage for their 16-story, 98-key hotel project at 139 Orchard Street, located on the Lower East Side. The developer eventually lost control of the site and abandoned construction on the structure, although the building topped out before work stopped. The latest development is that Fortuna Realty Group and Elk Investors won an auction to acquire the stalled-out project for $30.75 million, The Real Deal reports. Buildings applications indicate the hotel will measure 39,064 square feet. The new owners plan to finish construction on the building as a hotel. Completion is expected sometime in 2017.



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