Remember that long-stalled tower at 785 Eighth Avenue (alias 306 West 48th Street)? We hardly do, because the last time we heard a rumor about it coming back to life was nearly two years ago. But now, The Real Deal reports, it really will come back to life?as a rental building, set to hit the market in July. No word on pricing yet, but there are 122 units total, mostly studios through two-bedrooms with a three-bedroom penthouse.
In past lives, such as they were, the building was slated to be a 45-unit apartment building and the aptly-named Graves Hotel. Even now there's still some mystery involved?the previous owner of the project sold its interest in the building, and the rental brokers refused to comment on who exactly owns the place now. Hmm!
· The Sorrento comes back to life as a rental [Real Deal]
· Sorrento coverage [Curbed]