By Veronica Grecu, Associate Editor
A 6,600-square-foot development site located next to the landmark Lucerne Hotel on the Upper West Side was sold to Anbau Enterprises, a luxury real estate developer.
207 West 79th St. – Upper West Side Manhattan
The Real Deal reported that Anbau paid $39 million for the development site, which is situated between Central and Riverside Parks. The buyer was represented by Eastern Consolidated’s Senior Director George Moss, while Senior Director and Principal Deborah Gutoff spoke for the seller, 79th Street Associates LLC.
Located at 207 West 79th St. between Amsterdam Ave. and Broadway, the site is currently occupied by a five-story residential building which, according to information provided by PropertyShark, was completed in 1920. Following Landmarks Preservation Commission’s approval in October last year—and after revisiting the design and scaling down the project to stand 18 feet shorter than the neighboring Lucerne Hotel—, Anbau will demolish the existing brownstone and replace it with a 13-story condominium building that will meet the area’s strong demand for luxury housing.
“The property was held by ownership for almost 40 years, during which time the neighborhood has demonstrated phenomenal growth appreciation and become highly desirable,” said Eastern Consolidated Principal Deborah Gutoff in a prepared statement.
Designed by Morris Adjmi Architects, the new 71,000-square-foot building will be completed in 2017. It will offer 24 luxury condominiums in a combination of two- to five-bedroom units, as well as high-end amenities such as 24 hour doorman, fitness center, and bike storage space.
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Rendering courtesy of Anbau Enterprises