East 59th Street New York City
As one of Euro Properties first foray into USA, Euro Properties took advantage of great market timing and acquired the development site in 2014 for 55 million dollars in one of the worlds most desirable market in the world, Manhattan, New York.
Located at the start of the Billionaire Row between Park Avenue and Lexington Avenue with views towards Central Park on upper floors, the property is ideally situated on 59th Street across from Bloomingdale department store and a stone throw away from the 59th Street Lexington Avenue Metro Station and the Bloomberg Building. It is also in close proximity to some of the best amenities the city has to offer, including Central Park, MOMA, Fifth Avenue, Central Park Zoo and the Plaza.
Euro Properties and its team of experts commissioned internationally renowned architect Soo K. Chan of SCDA Architects to design the 40-story tower at 118 East 59th Street, and to craft 29 bespoke residences. The building includes a mix of one to four-bedroom condominiums, including a number of duplexes and a triplex penthouse with park views, private amenities and a three floor fully independent flagship retail unit, with residences offered starting from $3.5 million with pre-sales and sales center preparation fully completed. The company sold its position in the investment in December 2018.
Property type: Ultra High-end Highrise Residential Development
Address: 118 East 59th Street Project
Site acquired: Late 2013
Site status: Sold in 2018 to Private Investor
Building GFA (Approved): 92,886sq.ft.
Achievement: Sold with full AG approval and development plan in place
Location: Manhattan, New York