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Two Upper East Side Rentals Will Become Pricey Condos

A face-off between developer Harry Macklowe and broker-to-the-stars Alice Mason is looking ever more likely. Bloomberg reports that Macklowe has filed plans to, as rumored, convert two recently-purchased rental buildings, 737 Park Avenue and 150 East 72nd Street, to condos. The plans give a hint as to prices, and they're about what we'd expect for freshened-up Park Avenue real estate. 737 Park will contain 103 units asking between $2.9 million and $18 million. At 150 East 72nd Street, there will be 34 units?two- and three-bedrooms?asking $3.5 million to $6 million. Sales could start in late 2012 or early 2013, but it's unclear what will happen to the buildings' handfuls of rent-controlled and rent-stabilized tenants.
· Macklowe Files Plans to Convert 137 Manhattan Rental Units to Condominiums [Bloomberg]
· Macklowe Comeback Continues With UES Building Buy [Curbed]
· Developer, Broker Facing Feud Over Rent Stabilized Apartment [Curbed]

150 East 72nd Street

150 East 72nd Street, New York, NY 10021