Overshadowed by the west side for much of the decade, Manhattan's east side is once again on residential developers' radars as lower prices and the expansion of the area's medical institutions promise to bring an influx of energy into the neighborhoods.
Near the district's southeast fringe where mid-century office buildings blend into the post-war apartment houses of Murray Hill, a new generation of residential buildings have begun to rise. The 2017-finished American Copper Towers, with its $4,020/month studios and sky-bridge pool proved that the rather unsexy area could attract a younger, well-heeled crowd when offered the right product.
Near the district's southeast fringe where mid-century office buildings blend into the post-war apartment houses of Murray Hill, a new generation of residential buildings have begun to rise. The 2017-finished American Copper Towers, with its $4,020/month studios and sky-bridge pool proved that the rather unsexy area could attract a younger, well-heeled crowd when offered the right product.
Along 34th Street, three new residential towers are preparing to rise. To join a clusters of recent mid-rise that include The Anthem, The Charleston, and Theater House; Lalezarian Properties is moving full steam on a 35-floor mixed-use tower at 509 Third Avenue/ 201-211 East 34th Street. A rendering posted at the site depicts an efficient design by Ismael Leyva Architects that will bring apartments with full-height corner windows and terraces in select units.
Rendering of 509 Third Avenue (via Ismael Leyva Architects)
509 Third Avenue will be the first East Side building in Lalezarian's growing Manhattan portfolio which most recently completed 507 West Chelsea, Hudson 36, and 102 Charlton Street in Hudson Square. According to The Real Deal, the rather clandestine Long Island-based developer acquired the five-parcel development site in late 2018 for $79.5 million from the Riese Organization.
With ground-floor retail and 229 residential units spread across 167,000 square feet of zoning area, the building is to most likely accommodate rental apartments. A short list of amenities includes a live-in super, bike storage, and top floors dedicated to health, wellness, and recreation. The 33rd floor will hold a fitness center, while the 34th will have a common lounge and accompanying terrace.
The high-rise will soar 400 feet tall to its rooftop bulkhead. Its height won't make much of a dent in the Manhattan skyline, but its location near the East River and at the cusp of mid-rise Kips Bay/Murray Hill will provide apartments with decent views of the surrounding area. Far-reaching downtown views will be obscured by Eastlight at 200 East 34th Street. Spearheaded by China Overseas Land & Investment, that 31-story tower will have 144 condos designed by the well-regarded firm of Cetra/Ruddy Architects. Behind the site at 214 East 35th Street, a prewar building was expanded into a 10-unit rental with modern finishes and virtual doorman service.
Looking east down 34th Street with 509 Third Avenue to the left and Eastlight to the right (March 2022)
A charming brownstone was recently revamped into a vapid rental
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