Back in September, YIMBY reported that a new 38-story residential tower would soon rise at 118 East 59th Street, designed by Soo Chan of SCDA Architects. Now, we have the reveal for the project, courtesy of a tipster. Euro Properties is developing the site, and the bio picture of its head, Neo Que Yau, also includes a more detailed look at the project, which was hiding in plain sight.
The building will stand 470 feet tall, with floor heights averaging over 12 feet. With only 29 units sharing 70,260 square feet of space, residences will average over 2,400 square feet each. Per The Real Deal, a 4,869 square foot penthouse will soon hit the market for $30 million. YIMBY also has the first batch of interior renderings for the project, and finishes will certainly correspond to the development’s super-luxe status.
SCDA has several projects underway in New York City, although 118 East 59th Street is the tallest to date, by far. YIMBY revealed their design for 515 High Line back in July, which the Bauhause Group is developing, and that building will also be an exercise in glassy simplicity.
118 East 59th Street will be composed of stacked cubes, each angled in a different direction from its neighbors above or below. Open views are a given, and the expansive floor to ceiling glass makes sense for a location where views drive pricing. Even though it will stand 470 feet tall, 118 East 59th Street will be far shorter than nearby new developments like 432 Park Avenue and 520 Park Avenue.
The total cost of 118 East 59th Street was $49 million, and Euro Properties also paid $6 million for air rights and an easement from the neighboring 116 East 59th Street. While no completion date has been formally announced, demolition permits for the existing low-rise were filed in June.
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