The curtain wall is steadily rising at 1059 Third Avenue, a topped-out 481-foot-tall mixed-use tower on the Upper East Side. Designed by Manuel Glas Architects and developed by Real Estate Inverland and Third Palm Capital, the reinforced concrete structure rises 30 stories and will yield 127,000 square feet. There will be a total of 38 condominiums spread over 103,900 square feet of residential space, averaging around 2,740 square feet apiece. Our last update was about a year ago and YIMBY recently stopped by to see what has happened since.
1059 Third Avenue
1059 Third Avenue is climbing steadily toward its 481-foot and 30-story pinnacle on the Upper East Side, a milestone that is more than likely to be reached before the end of this year. The 127,000 square foot building is designed by Manuel Glas Architects and developed by Real Estate Inverland and Third Palm Capital. Since YIMBY’s last update back in July, the building had crossed the halfway mark, and now has about five floors left before construction workers reach the top.
It has been less than four years since permits were filed for 1059 Third Avenue, but thanks to Tectonic we can see the tower has now risen 21 floors above the Upper East Side, on the way to its 30-story pinnacle. The project is one of several new high-rises coming to the neighborhood. Real Estate Inverland and Third Palm Capital are responsible for the development. The site was purchased for $40 million in 2012, costing just over $330 per buildable square foot.
Development in the eastern half of the Upper East Side is on a tear, with towers planned for First, Second and Third Avenues. And now comes another on Third Avenue, at East 63rd Street. There, at…