A new luxury tower planned for the Upper East Side is set to become the tallest building north of East 72nd Street. Plans filed with the city earlier this month by the developer reveal the record-setting building will soon rise at the corner of East 77th Street and Second Avenue.
The 36-story high rise to be built at 255 East 77th Street in Lenox Hill will stand 535 feet tall when complete, dethroning the 11 foot shorter, 50-story luxury tower at 180 East 88th Street, which has held the title of tallest since topping out in 2019.
Despite being several hundred feet taller than the two apartment buildings that stood at the site, the building houses just 55 units across 170,000 square feet of residential space, according to filings with the Department of Buildings.
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That’s an average of more than 3,000 square feet per apartment.
Known for its opulent offerings, Naftali Group— the NYC mega developer behind this project— is already developing three other high end condo buildings on the Upper East Side, The Bellemont and The Benson on Madison Avenue, as well as 200 East 83rd Street on Third Avenue.
Naftali’s history, combined with the low number of units for a building that size and the recent expiration of a property tax break, all suggest that the new high rise will be yet another sprawling luxury condominium catering to the ultra wealthy.
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In addition to sprawling new apartments, plans also include more than 3,800 square feet of retail space at the base of the new Second Avenue tower, plus 33 new parking spaces underground.
So far, no offering plan for the condos have been filed with the New York State Attorney General’s Office, as required by law.
Upper East Site reached out to Naftali Group for more details, but did not hear back.
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How many more residences will be built? They’re ripping down blocks of small businesses and small businesses are what built this city. I know in Queens over-sized residential buildings are going up and are up and you look in the windows and nobody lives there. No drapes, curtains, nothing. We need stores and diners and hardware stores and shoe stores. Neighborhoods the way they used to be.
Couldn’t agree more. These building are get rich quick scenes for politicians, developers, and for foreign money laundering. Nothing contributes to the neighborhood.