The Sundari Lofts & Tower, the zen-themed 50-unit condo planned for 158 Madison Avenue, was a casualty of the credit crunch, its troubles made worse by its location: a T-shaped lot in an area not, er, known for new condo projects. (The site's best success so far was as the home of Andy Warhol's legendary Factory.) Even a redesign failed to get the project off the ground. But now there's new life at the site, The Real Deal explains. It's been acquired by J.D. Carlisle Development (the team behind The Beatrice) and the plan is for a rental building on the site, with construction to begin next year. There's no designer on board yet, but we'll be curious to see the next vision for that T-shape.
A tipster points out the most recent version of the project on the website of architect Ismael Leyva:
· J.D. Carlisle buys Madison Avenue condo-hotel site, plots new rental [Real Deal]
· 158 Madison Avenue coverage [Curbed]