(To read more on the multifamily market, click here.)
NEW YORK CITY-Construction is under way on Sutton 57, a $22.5-million tower that will house 38 residential units. The site was formerly home to electronics retailer the Wiz.
Broadway Management Co. is developing the effort at 212 East 57th St. between Second and Third avenues with HRH Construction leading the redevelopment. It is expected to open in January 2006.
"The limited number of apartments in the building will give residents a sense of exclusivity community," says Jack Kestenbaum, HRH Construction's project manager on Sutton 57. "The first 10 through 22 will offer floor-through apartments giving residents the exclusivity of a private elevator entrance and corridor, and no adjoining neighbors." Floors two through nine will each offer three apartments and floors 23 and 24 will be combined to create one duplex penthouse.
H. Thomas O`Hara architectural is the architect on the project. Amenities are expected to include a 24-hour concierge service, rooftop terrace access and a fitness center.
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