Carter's Review

In 2015, Ziel Feldman of HFZ Capital announced that he was combining the two rental apartment buildings at 88 and 90 Lexington Avenue into one condominium development.

Erected in 1927, the handsome, 17-story building at 88 Lexington Avenue was designed by Necarsulmer & Lehlbach. 

Because it is across the street from an armory, it has very impressive views to the south as it is close to Madison Square Park, which has several important skyscrapers.

The building is also close to many Indian restaurants and there is good public transportation in the area, which in this millennium has witnessed a significant amount of new construction that has spurred the opening of many restaurants.

The 13-story building at 90 Lexington Avenue on the southwest corner at 27^th Street was erected in 1959 as an office building and was designed by Carson & Lundin and subsequently converted to rental apartments and became known as Lex Lofts.

In 2013, it was acquired from Westwood Partners by Ziel Feldman of HFZ Capital for $55 million for conversion to 73 condominium apartments.  Westwood had acquired the building, a former Blue Cross/Blue Shield facility, in 2007 for about $30 million. In 1976, Henry Mandel acquired the limestone-clad building and converted it to 177 rental apartments.

Bottom Line

Located close to many Indian restaurants, this NoMad condo apartment building has some spacious small units with high ceilings and some inset balconies and is also near Shake Shack and Eataly, Madison Square Park, and good transportation.

Description

This building, which also has the address of 128-132 East 27th Street, has a slightly recessed, two-story beige-brick base with raised planters and polished black granite piers.  Its top floors are setback and it has numerous inset balconies.

HFZ's website notes that Workplace/APD, which did interiors for the Printing House conversion project in the West Village, is doing work on this project and his website also indicated that it was also work on the slightly taller, pre-war building at 88 Lexington Avenue that he had also acquired. 

A rendering at Architizer.com show the roof of 90 Lexington Avenue with a large water element and video projections on an adjacent, taller structure, presumably 88 Lexington Avenue, but the perspective was very confusing as it showed the Empire State Building even through 88 Lexington Avenue is to the south of 90 Lexington Avenue.  The caption for the rooftop image maintained that “dramatic references to an adjacent park transform an unremarkable office building to a cutting-edge residence.” 

Amenities

The building has a concierge, a live-in superintendent and a fitness center and there are laundry facilities on every floor.  A rendering at Architizer.com indicated it will have a roof deck with a water element and video projections on an adjacent building.

Apartments

Apartment 12D is a duplex one-bedroom unit with an entry foyer that leads past a small enclosed kitchen and a 9-foot-wide dining area to a double-height, 16-foot-long living room with a large terrace and a spiral staircase to a large home office on the top level. 

Apartment 11G is a one-bedroom unit with an entry foyer across from an enclosed kitchen and it leads to a 24-foot-long living room.  It also has a 14-foot-wide home office/den.

Apartment 8F is a two-bedroom unit with an entry foyer that leads to a 24-foot-long living room with an open kitchen and a terrace.

Apartment 8J is a one-bedroom unit with a 12-foot-wide home office, and a 24-foot-long living room with a terrace and an enclosed kitchen.

A studio unit has a 24-foot-long living room with an open, pass-through kitchen and a small terrace, a 15-foot-wide home office and a 22-foot-long den all clustered about a bathroom.