Just a few blocks away from Macklowe Properties’ 432 Park Avenue, the development firm is creating a relatively modest tower at 200 East 59th Street. On Friday, YIMBY uncovered the first full rendering of the 35-story tower, as part of EB-5 financing materials.
The CetraRuddy-designed tower will include 67 apartments, and 14,861 square feet of retail at the base. When complete, the tower will stand 490 feet, and have wraparound terraces on each floor.The EB-5 financing materials also revealed that the tower is being built at a cost of $278 million with about $80 million coming from EB-5.
The project came about after Macklowe’s purchase of three structure at the corner of East 59th Street and Third Avenue in 2014. Those buildings were demolished soon after to make way for this tower. YIMBY noted that the design presented in the EB-5 will likely see some minor changes, and the project is expected to wrap up by the end of 2017.