Back in June of 2015, YIMBY reported on plans for an 18-story and 29-unit condominium development coming to 40 East End Avenue, on the corner of East 81st Street. Today, we have the first look at the project’s design, thanks to photos by Tectonic.
At 18 floors and 210 feet to its rooftop, the building will barely be noticeable by Manhattan standards, but it will still be a positive improvement over the old structure, which was attractive but fairly run-down. Unfortunately, the redevelopment will result in a declining housing stock, with the 40 rentals yielding to only 30 condominiums, despite the massive overall size increase.
While the Upper East Side is one of the most generously-zoned neighborhoods in all of the five boroughs, the state-mandated cap on residential FAR prevents developers from building to the area’s true capacity, which has been further enhanced by the opening of the Second Avenue| Click here to read the full post. |