A West Coast real estate developer bought the nearly quarter acre plot at the corner of E. 78th St. and First Ave. for $73.5 million late last year with plans to build a luxury condo complex but first the NYS Department of Environment Conservation said containments of groundwater and soil must be cleaned up and is now seeking public input on a proposed plan. 

by Keith J. Kelly, Westside Spirit (NY)

A San Francisco real estate developer bought the quarter acre lot at E. 78th St. and First Ave. for $73.5 million late last year with plans to erect a luxury condo apartment complex on the site that could stretch up to 35 stories high–but before any work can begin the NYS Department of Environmental Conservation (DEC) says soil and grondwater contaminants must be cleared first.

Carmel Partners has big plans for the site. According to linecity, a blog which tracks real estate filings, the company has already filed plans with the building department for a 24 story, 209-foot-tall development that will total 195,299 square feet and include 182,020 square feet of residential space and of 13,279 square feet of commercial space. “The average size of an apartment, based on gross numbers, will be a very robust 1,936 square feet,” according to linecity, which said the developer is calling for 94 units.

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For the entire article, see

https://www.westsidespirit.com/news/developer-wants-to-build-lux-condos-on-e-78th-st-but-dec-says-clean-up-brownfield-before-building-35-story-tower-YM2394890

Posted February 14, 2023