Rental plans for a 23-story East Harlem residential tower have been scrapped in favor of condominiums, following a "test the market" application filed last week by developer Jeremy Markowitz with the New York State Attorney General's office.
Heritage's new plans for the 94k SF property, located at 1399 Park Avenue between East 103rd and 104th streets, will make way for 72 condo units, The Real Deal reports. That positions it more on par with similar new condo development inventory and bolsters the building's average unit size to around 13k SF.
Heritage acquired the East Harlem lot for the Goldstein, Hill & West-designed project for $12M in 2014. Additional amenities include a 54-car parking garage and 20k SF of ground-floor community space. [TRD]
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