Third Palm Capital

YIMBY Checks in on Manuel Glas’ Mixed-Use Tower at 1059 Third Avenue on the Upper East Side

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.

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1059 Third Avenue, rendering by Real Estate Inverlad

1059 Third Avenue Over Halfway to Pinnacle on Manhattan’s Upper East Side

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.

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249 East 62nd Street, image by Rafael Vinoly Architects

Viñoly’s Jetsons-Esque Skyscraper at 249 East 62nd Street Revealed, Upper East Side

Rafael Viñoly has become one of the more prominent designers of Manhattan’s residential real estate in recent years, and today, YIMBY has the first rendering for the architect’s latest skyscraper, at 249 East 62nd Street on the Upper East Side. While the tower will technically comprise only 32 floors, it will stand 510 feet to its rooftop, taking advantage of a Jetsons-esque podium to boost its upper levels high into the neighborhood skyline.

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1179 Second Avenue

32-Story, 83-Unit Mixed-Use Tower Filed at 249 East 62nd Street, Upper East Side

Florida-based Real Estate Inverlad Development and South Carolina-based Third Palm Capital have filed applications for a 32-story, 83-unit mixed-use tower at 249 East 62nd Street, located in the Lenox Hill section of the Upper East Side. The new building would encompass 145,130 square feet and stand 510 feet in height. Retail space will measure 2,561 square feet across the ground and cellar levels, followed by 83 residential units across the ground through 29th floors. The apartments should average 1,188 square feet apiece. Rafael Viñoly’s Hudson Square-based architecture firm is the architect of record, the Real Deal reported. The 8,765-square-foot site is presently vacant.


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