Sutton 58 | |
---|---|
General information | |
Status | Completed |
Type | Residential |
Location | 426–432 East 58th Street |
Coordinates | 40°45′30″N73°57′41″W / 40.758291°N 73.961256°W |
Construction started | 2017 |
Completed | 2022 |
Height | 847 ft (258 m) |
Technical details | |
Floor count | 65 |
Sutton 58 (also known as 3 Sutton Place) is a residential skyscraper in the Sutton Place neighborhood of Midtown East, Manhattan in New York City. [1]
The building was designed by Thomas Juul-Hansen and is 847 feet (258 m) tall. [2] [3] It is variously cited as containing 62 stories [2] [4] or 65 stories. [3] The site contains 260,000 square feet (24,000 m2) of buildable space. [5]
The tower's stone-and-glass facade contains five bays of windows on its northern and southern elevations and three bays on the western and eastern elevations. [6] The tower is slightly cantilevered over a neighboring building to the east. [4] [7] The cantilever extends about 10 feet (3.0 m) over the neighboring structure at 434 East 58th Street. [4] The superstructure is made of reinforced concrete. [3] [7]
In January 2015, The Bauhouse Group secured three adjacent low-rise buildings on the east side of Midtown Manhattan in New York City. [8] [9] In March the firm acquired a fourth adjacent location, along with 100,000 square feet (9,300 m2) of air rights, intending to construct a luxury residential skyscraper. [10] [11] [12] That August, Bauhouse acquired another 109,000 square feet (10,100 m2) of air rights for $37.9 million. [13] The tower would have been designed by Foster and Partners and would have been about 1,000 feet (300 m) tall. [5] Bauhouse obtained a $63 million loan from Gamma Real Estate in early 2015 and received another $147 million loan from Gamma that June. JLL brokered the loans. [14] [15]
The plans had generated opposition by mid-2015, [16] and opponents raised money to fight the plans. [17] As a direct response to the plans for 3 Sutton Place, community members and politicians sought to rezone the neighborhood, creating a height limit of 260 feet (79 m) for the area bounded by First Avenue to the west, 52nd Street to the south, and 59th Street to the east. [18] [19] At the time, the neighborhood had no height restrictions for new buildings, and developers needed only to assemble the required air rights. [18] Residents of the neighboring 434 East 58th Street, whose air rights Bauhouse had purchased during late 2014 for $11 million, said they had been told the structure would be between 13 and 30 stories tall, only to then be shown the plans for a 90-story tower. According to a Bauhouse spokesperson, "As the complex assemblage continued into 2015, the size of the building increased." [20] [21] In the midst of opposition, Bauhouse executive Joseph Beninati sought a partner for the project, particularly one who could help underwrite the $650 million proposed cost. [22] [23] By December 2015, demolition permits had been filed for the site. [24] [25] [26] A neighboring property owner, whose house abutted one of the buildings that was going to be demolished, claimed that the demolition would damage his house. [27]
In January 2016, Bauhouse defaulted on the $147 million loan from Gamma. [28] Early the next month, Gamma had started foreclosure proceedings on the site, [29] and the Carlton Group sought an $80 million mezzanine loan for the project. [30] Gamma scheduled a foreclosure auction for the site for February 29. [31] [32] Bauhouse asked a judge to enjoin Gamma from foreclosing on the site, but the request was denied on February 23. [33] [34] The following day, JLL sued Bauhouse and Beninati for failing to pay a broker's commission for the two loans the company had secured from Gamma. [14] [15] After failing to secure additional funding, Bauhouse filed for bankruptcy on the 3 Sutton Place site two days before the auction was set to occur, thus canceling the planned auction. [35] [36] Continuing litigation cast the future of the project into doubt. [37] A bankruptcy court hearing took place in April 2016. [38]
An auction for the development site was approved in September 2016, [39] [40] and a December auction date was scheduled two months later. [41] [42] [43] Gamma Real Estate acquired the site at auction, [44] [45] and it announced revised plans for the site. [46] The plans called for a 67-story structure with 125 apartments across about 262,000 square feet (24,300 m2). [47] Concurrently, efforts to rezone the area proceeded. [48] [49] In April 2017, the initial rezoning proposal was released and was initially met critically. [50] [51] That same month Gamma Real Estate closed on the property. [52] [53] As part of the rezoning, buildings within the rezoned area were required to have 45 to 50 percent of their bulk below a height of 150 feet (46 m). [54] [5] Therefore, either the structure would have to be limited to 260 feet (79 m), or the proposed 800-foot (240 m) tower would need to have extremely narrow upper stories, which Gamma opposed. [5]
The rezoning was approved in November, and after an initial decision to grant an exemption was reversed, construction work was halted by the end of the year. [55] [56] [57] At the time, the foundation was nearly completed. [54] [58] Work resumed in June 2018 following approval from the Board of Standards and Appeals, although the project's opponents continued their efforts to halt construction. [59] [60] [61] [62] Construction rose above street level in June 2019 and facade installation began that December. [63] [64] In August 2020, the skyscraper topped-out and facade installation passed the halfway point. [65] [2] The last portions of cladding were installed in June 2021, and by August crown installation was progressing. [66] [67] The building was completed in 2022. [1]
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