The progress on a planned, midtown residential tower has stalled, but that only means it's likely to be replaced by another skinny, tall tower. Located at 12-14 East 37th Street, the site was once supposed be a 65-story residential building developed by Nef. But now the owner of the site has put it up on sale, The Real Deal reports, which means the deal with Nef was never finalized.
Nef announced plans for the residential building, which was set to stand 700 feet tall, almost year ago, and had even roped in architecture firm, Perkins + Will to do the design. The proposal was notable for the five, planned open-air gardens in the building, an outdoor cinema, an observatory on the top floor, and an infinity pool. The 65 units in the building would have ranged from 400 square foot studios to 1,800 square feet full floor apartments, according to TRD.
But that will all be no more. The owner has put the property up for sale again after talks with Nef fell through. It's estimated that the land is valued at anywhere between $65 million to $75 million. Since there are no height restrictions on the site, it's likely that a condo building or hotel will eventually take shape there.