At last, peace on Sutton Place! The long disagreement between the city and the residents of 1 Sutton Place South has finally been resolved, according to a press release that just landed in the Curbed inbox. The residents of 1 Sutton Place South were hoping to hang onto the building's lawn, which they leased from the city for $1/year back in 1939. When the lease expired in 1990, the building's residents decided to continue as if nothing had changed, swearing new buyers to secrecy about the situation. The city finally realized what was going on, and in came the lawyers.
The two sides announced an agreement earlier this year, and now we know the terms. A part of the building's backyard will form a piece of a 10,000-square-foot waterfront public park, connecting the existing parks at the end of 56th and 57th streets. Why only part of the yard? The press release offers a hint: "The boundary line separating SPSC’s privately-owned property and property owned by the City was based on the location of the high water line of the East River. The contours of that line were affected by development and environmental changes." The city and the building will each pay $1 million toward the $2 million cost of the park.
· 1 Sutton Place South coverage [Curbed]