Patience is a virtue when building in the Big Apple. Plans for a new residential tower at 75 First Avenue in the East Village were conceived in 2004 but were subsequently downsized thanks to neighborhood activists calling for a height limit in the area. Nevertheless, construction started in 2016. Sales began a year later, but a series of legal setbacks, not to mention coronavirus, has stalled delivery until at least 2021.
Three years ago, when the city's economic outlook was much rosier, 50% of the building's condo units fell into contract two months after the sales launch. However, a fallout with the original construction manager, Pizzarotti, and a change in architects has taken its toll. A recent site visit shows the project is well behind its summer 2018 completion and currently stands as a concrete shell awaiting its enclosure and interior fit-outs.
Three years ago, when the city's economic outlook was much rosier, 50% of the building's condo units fell into contract two months after the sales launch. However, a fallout with the original construction manager, Pizzarotti, and a change in architects has taken its toll. A recent site visit shows the project is well behind its summer 2018 completion and currently stands as a concrete shell awaiting its enclosure and interior fit-outs.
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A dispute with its construction manager, coronavirus, and neighborhood looting has stymied the boutique condo at 75 First Avenue
The long-in-the-making venture is being steered by the Colonnade Group with HTO Architect tapped as the initial designers. The boxy eight-floor building is to be wrapped in a slick facade of glass with the top three floors having setbacks that provide private terrace opportunities. The project acquired development rights from the Rite Aid drug store next door, allowing for a small cantilever, lot-line exposures, and protected views to the north.
Recently revised permits now show Fischer + Makooi Architects as the architects of record and WonderWorks has replaced Pizzarroti as the construction manager. According to a 2019 story from The Real Deal, Colonade and Pizzarotti have been locked in a dispute over the project’s costs with Pizzarotti claiming it is owed more than $1 million. In a counter-complaint, Colonnade claimed Pizzarotti’s billing practices were “false and possibly fraudulent,” alleging the contractor hasn’t properly itemized its expenses and claimed a lien for significantly more money than it has spent on the project, The Real Deal uncovered.
Recently revised permits now show Fischer + Makooi Architects as the architects of record and WonderWorks has replaced Pizzarroti as the construction manager. According to a 2019 story from The Real Deal, Colonade and Pizzarotti have been locked in a dispute over the project’s costs with Pizzarotti claiming it is owed more than $1 million. In a counter-complaint, Colonnade claimed Pizzarotti’s billing practices were “false and possibly fraudulent,” alleging the contractor hasn’t properly itemized its expenses and claimed a lien for significantly more money than it has spent on the project, The Real Deal uncovered.
Likely due to the dispute, the sponsor removed remaining availabilities from the market in October 2019. The one- and two-bedrooms were priced from $992K for a third-floor one-bedroom up to $2.25M for two-bedroom on the fifth floor. While the top-floor units never were publicly marketed, an approved offering plan shows they were to be listed at $5.25M and $4.175M apiece.
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The interiors are designed by Stefano Pasqualetti and will feature eight-inch oak flooring, wall-to-wall windows, open plans, generous closet space, and in-unit washer/dryers. Chef’s kitchens will have breakfast bars, white Carrara marble countertop and backsplash, and top-of-the-line Miele appliances. Luxury master suites will have walk-in closets, and baths with Piesentina stone flooring, custom double vanity, Nublado Raw textured marble walls, and large glass walk-in shower with large Fantini rain shower head.
Amenities are to include a doorman, a common landscaped rooftop deck with panoramic city views, a bike room, fitness center, and private lounge with yellow travertine fireplace, pool table, and wet bar. The project is located near many restaurants, Whole Foods, Trader Joe's, and several public transportation options.
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