The skinny tower in New York's midtown is now in the market. This 50 by 100 feet site at 12-14 East 37th Street could be the latest slender tower creating attractions in the Manhattan skyline.
According to The Real Deal, this skinny tower is supposedly slated to be developed into a 700-foot tower with built-in parks and outdoor cinema to be designed by Perkins + Will architecture firm. Moreover, reports via NY Curbed said that the architecture firm plans to put open-air gardens in the building, an observatory on the top floor, and an infinity pool.
Nef, a Turkish development firm, said that the site could be a hotel or a condo, which could have 65 apartments with 400-square-foot studios to 1,800-square-foot floor-through units, according to The Real Deal.
The report says this super slim tower would be Manhattan's foray into the NY market if development is pursued. With no height restrictions, the site could even be developed into a more flexible tower.
Amid plans of development, the company never closed the deal for the site, hoping to have new terms, even looking for the right buyer elsewhere, tapping great brokers to market it somewhere ranging from $65 million to $75 million as reported by the industry insiders.
Tapped marketers are Ackman Ziff's, David Robinov, David Borden, and Jason Meister, TRD reveals. Refused to reveal an asking price, the brokers believe that sites with these kind of central locations is very rarely available in the market.
The brokers also did not mention the client's identity but according to public records, the owner is Morris Bildirici, coming from a family who has owned the property since 1980s. Now that Bildirici has put this tower up on sale shows that Nef's plan was never finalized as per reports in NY Curbed.
