Directly across the street from Bloomingdale’s, 143-155 East 60th Street, or 151 East 60th Street, was supposed to give rise to a residential supertall on the southern edge of the Upper East Side. The assemblage has seen impressive design proposals released by both Archillier Architecture and Kohn Pedersen Fox. Demolition of six low-rise buildings began in the summer of 2017, after permits were filed. However, since then, activity has come to a grinding halt, and it appears that the site is the latest casualty of New York City’s Chinese-led development bust.
143 East 60th Street
Back in June, Kuafu Properties was in contract to purchase the assemblage spanning 143-161 East 60th Street, on the northern edge of Midtown East, and now the Chinese developer has closed on the acquisition, according to Commercial Observer. The site has a nearly 20,000 square-foot footprint, and roughly 280,000 square feet of development potential. Kuafu plans to build a luxury residential tower with a large retail base, although the existing six low-rise buildings must first be demolished.
Only placed on the market earlier this month, Kuafu Properties is in contract to acquire the development assemblage spanning 143-161 East 60th Street, on the northern edge of Midtown East, for more than $300 million. A 280,000 square-foot residential building with a retail portion could be accommodated at the site, and rumor has it that condominiums are likely planned. Six low-rise buildings — the largest being 11 stories — currently occupy the site.
World Wide Group has placed an assemblage of buildings, spanning 143-161 East 60th Street, in Midtown East, on the market as a development site for what is being valued north of $300 million, according to Crain’s Business. Six buildings are included in the assemblage, most being townhouses in the four- and five-story range, but an 11-story building exists at No. 155. A 280,000 square-foot residential and retail building could be built, but the tower could be even larger if a developer chooses to satisfy the inclusionary housing bonus.
115 Delancey Street [Bowery Boogie]: Demolition of the existing low-rise warehouse structure located at 115 Delancey Street is imminent, as part of the larger Essex Crossing development in the Lower East Side. Permits were recently filed…