Exclusive new renderings of 232 East 54th Street offer a glimpse of the finished look of the forthcoming rental property in Midtown East. While the 420-foot-tall structure is already topped out, the official design by Ismael Leyva Architects had previously been kept under wraps.
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.
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.
Two turn-of-the-century apartment buildings at 230 and 232 East 54th Street may bite the dust for a 22-story residential project. New building applications were filed yesterday to erect a 237-foot-tall building at 232 East 54th Street, between Second and Third Avenues in Midtown East.