The 12-story, orange-brick building at 40 East 66th Street on the southeast corner at Madison Avenue is being converted to residential condominiums by Vornado 40 East 66th Street LLC, which is part of the Vornado Realty Trust of Paramus, N.J.
The 37 apartments have a total offering price to tenants of $183,682,500 and $193,350,000 to non-tenants.
The sponsor acquired the building last year from the Berwick Land Corporation.
Vornado's other residential properties include the Beacon at 151 East 58th Street.
Walter B. Melvin and SCLE are the architects for the conversion.
The building, which has a two-story limestone base, a canopied entrance, some fireplaces, some decorative balconies, protruding air-conditioners, and a fire escape on its south facade, was erected by A. Morris Levy and Edward Kaye in 1929 and was designed by Rosario Candela, one of the foremost architects of luxury apartment buildings in the city in the 1920s and 1930s.
A three-bedroom, three-and-one-half bath apartment with 2,437 square feet on the third floor was priced at $4,512,500 for the tenant and $4,750,000 for a non-tenant and a similar size apartment on the 12th floor was priced at $5,937,500 for a tenant and $6,250,000 for a non-tenant. The west penthouse with 2,551 square feet was priced at $9,500,000 for a tenant and $10,000,000 for a non-tenant, according to the offering plan on file with the New York State Attorney General's office.
At the time of the offering, the building had one rent-control tenant and 10 rent-stabilized tenants.
The building has several large decorative escutcheons on its west facade.
The 37 apartments have a total offering price to tenants of $183,682,500 and $193,350,000 to non-tenants.
The sponsor acquired the building last year from the Berwick Land Corporation.
Vornado's other residential properties include the Beacon at 151 East 58th Street.
Walter B. Melvin and SCLE are the architects for the conversion.
The building, which has a two-story limestone base, a canopied entrance, some fireplaces, some decorative balconies, protruding air-conditioners, and a fire escape on its south facade, was erected by A. Morris Levy and Edward Kaye in 1929 and was designed by Rosario Candela, one of the foremost architects of luxury apartment buildings in the city in the 1920s and 1930s.
A three-bedroom, three-and-one-half bath apartment with 2,437 square feet on the third floor was priced at $4,512,500 for the tenant and $4,750,000 for a non-tenant and a similar size apartment on the 12th floor was priced at $5,937,500 for a tenant and $6,250,000 for a non-tenant. The west penthouse with 2,551 square feet was priced at $9,500,000 for a tenant and $10,000,000 for a non-tenant, according to the offering plan on file with the New York State Attorney General's office.
At the time of the offering, the building had one rent-control tenant and 10 rent-stabilized tenants.
The building has several large decorative escutcheons on its west facade.
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
6sqft delivers the latest on real estate, architecture, and design, straight from New York City.
