After a mixed-used development planned for Madison Avenue and 33rd street went into foreclosure back in 2010, the site stalled. Good-bye, 33-story glass tower with a boutique hotel and apartments; hello, arrested deveopment. But wait. BuzzBuzzHome just spotted permits filed with the Department of Buildings for 172 Madison, revealing plans to build a 31-story, 67-unit building on the corner lot. The developer is real estate investor Yitzchak Tessler, who ultimately ended up with the foreclosed building and is planning an almost 130,000-square-foot ground-up project with street-level retail, bike storage and a fitness room with pool, saunas and changing room. The apartments will probably be condos, with a duplex on the top two floors.
Oh, and the architect? Curbed favorite Karl Fischer, who has been expanding out of Brooklyn to tackle more and more Manhattan projects these days. We can't wait for this rendering.
· Vacant 172 Madison Avenue site will get 31-story building, after all [BBH]
· All 172 Madison Avenue coverage [Curbed]