Bauhaus Collects $38M Worth of Air Rights for 3 Sutton Place
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Bauhaus Group, the development firm led by Joe Beninati (pictured), has gathered 109k SF of air rights for $37.9M. The rights will be used for 3 Sutton Place, the firm's Midtown East development site at 426-432 East 58th St. Plans call for a 90-story, 268k SF, 95-unit glass condo tower designed by Foster + Partners, The Real Deal reports. Bauhaus collected the rights from five different properties. The site was purchased in January for $32.3M. [TRD]