Upper East Side Lands Another Multifamily Project

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NEW YORK CITY-Construction has begun on an 87-unit, 30-story multifamily building on Manhattan’s Upper East Side. The facility will be located at 255 E. 74th St. and has been designed by H3 Hardy Collaboration.

Units in the building will have between two and five bedrooms, with 70% of the facility being three- and four-bedroom units. Prices range between $2.5 million and $7 million. A roof deck, open to all residents, will sit on top of the building, which will also include three penthouses.

“From the very beginning, our focus has been on creating residences that offer a rare opportunity for families to enjoy luxurious and comfortable living within New York City. The selection of the site, the design and layout of the apartments, the unique inclusion of play spaces within apartments, the superb finishes and details in every residence were all decided to fulfill the vision of a creating a spectacular building,” says Richard Lebow, of World-Wide Group, the project’s developer, in a statement.

Amenities in the facility include a 42,000-sf Equinox Fitness Center, which will be located on parts the first and second floors, as well as a 24-hour doorman, a club room and a landscaped outdoor garden just for residents. The first residents are slated to move in by late 2008.

“Rich with services and innovative amenities, the building will provide the vertical neighborhood that this demographic desires and will allow families to get out of the house without having to leave the grounds,” says Lebow.

This project adds to the Upper East Side’s plethora of current residential projects. Extell Development Co. is building a 20-story, 150-unit building on Lexington Avenue between 85th and 86th streets. The Related Cos. are also constructing a multifamily property on 86th and Third Avenue, just a block from Extell’s.