The juggernaut-like rental-to-condo conversion train is next bearing down on 96th Street and Central Park West. There, on the southwest corner, Argo Real Estate is taking a 16-story, 146-unit rental building and turning it into condos. YIMBY has the first CetraRuddy-designed rendering of the project, which basically looks like a spruced-up version of the same building. There's a teaser site, so we're getting somewhere, but the number of condos hasn't been announced yet because plans have yet to get the OK from the Attorney General's office.
Last year, Argo faced off in a legal battle against some tenants. The developer held that some units that weren't should be market-rate, while the tenants maintained they were stabilized. in any case, YIMBY reports the case has been "resolved amicably." And, in any case, enough tenants must have vacated or taken buyouts in order for Argo to combine apartments to make bigger ones, or else the project wouldn't be happening.
Fun fact: the Rosario Candela-designed building was built in 1929, and it replaced a church. On the northwest corner of the same intersection, a big landmarked church still stands, but (after a protracted battle) it's about to get condos inside.
· 360 Central Park West [teaser site]
· Revealed: 360 Central Park West, Upper West Side Condo Conversion [NYY]
· Mapping the NYC Rentals Reborn as Money-Hungry Condos [Curbed]
· All 361 Central Park West coverage [Curbed]
· All 360 Central Park West coverage [Curbed]