Don't tell Miraval Living, but another massive Upper East Side condo conversion is taking up most of superbroker Dolly Lenz's time. It's the Manhattan House, the 583-unit white brick megacomplex that takes up East 66th Street between Second and Third Avenues. After much controversy, the Sun's Bradley Hope reports that the various legal albatrosses of the conversion have been resolved, and Lenz has assembled a team of seven brokers to quietly begin showing the units. Manhattan House was purchased for a record $625 million, and they've pumped another $150 million into renovations, so the prices are staggering but not unexpected: $1,400-$2,300 per square foot in a neighborhood with an $1,139/sf average. Many apartments will be combo jobs, such as a $14 million corner penthouse with four fireplaces and 6,000-square-feet of space. Yowza. The Manhattan House blog reports that the owners' loan terms say they have to sell 15% of the units by June 1, which if you believe Lenz, won't be a problem at all.
· Manhattan House Has Brokers Revving Up [Sun]
· 200 East 66th Street Blog [200east66thstreet.blogspot.com]
· Manhattan House Condo War Details [Curbed]
[Photo via The City Review]