Impact Equities, a real estate development firm led by principal Joseph Leno, has recently entered into a contract to purchase 103 East 29th Street in NoMad, Manhattan. The purchase price is undisclosed, and the firm plans to close on the site by the end of 2024.
The property was previously owned by Auevilla Holdings and was the site of a proposed 19-story hotel designed by Arkan Zeytinoglu Architects and developed by Frank Savino. The hotel was set to replace the historic Hotel Deauville, which had occupied the 45-foot-wide plot for nearly 120 years before its demolition in 2019. Despite the Hotel Deauville’s rich history, the Landmarks Preservation Commission deemed the property unworthy of landmark status in 2017.
Rendering of potential new property at 103 East 29th Street. Credit: Delugan Meissl Associated Architects
Impact Equities has decided to abandon plans for the 19-story hotel and instead construct a residential building on the site. The new development will consist of approximately 40 units spread across 46,000 gross square feet, with 36,000 square feet of sellable space.
Several conceptual renderings for the project have been created. The one featured above, by Delugan Meissl Associated Architects, showcases one of visions for the site. However, Impact has expressed a desire to incorporate some of the “beau arts” design aspects to the new building as a nod to the Hotel Deauville that once stood on the property.
103 East 29th Street is located steps from a variety of public transit options, including subway stations servicing the R, W, and 6 trains.
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What a shame, Hotel Deauville was such a proud building. Disappointing effort of a replacement property.
Hotel Deauville was the star of this block, this new building plays a supporting role. Not terrible, but not a statement, either.
I am curious how the fenestration works out in the interior.
I sure hope they tear this town and replace it with the Deauville.