A community group — with backing of local politicians — has asked for a rezoning of Sutton Place, where Bauhouse Group plans a 900-foot tower on East 58th Street.
Last week, the East River Fifties Alliance filed an application with the Department of City Planning to impose height caps on new buildings east of First Avenue from 52nd Street to 59th Street.
That is right where Bauhouse Group is currently demolishing buildings on East 58th Street to make way for its 80-story, 270,000-square-foot tower. Sutton Place currently has no height restrictions under its currently zoning — something the activists are hoping to change.
“We are doing this so that the neighborhood isn’t ripped apart to the advantage of developers but to the ruin of the community,” said Alan Kersh, president of the East River Fifties Alliance, according to DNAinfo.
Bauhouse, led by Joseph Beninati, doesn’t seem bothered by the rezoning threat. A spokesman for the developer said the building will rise well before a potential rezoning could impact plans.
“We are moving forward with our project on an as-of-right basis and have already begun demolition,” the Bauhouse spokesman said. “Our project will be nearing completion by the time any rezoning would be heard.”
Bauhouse assembled the site in six different purchases for about $70 million. The tower, designed by Foster + Partners, is expected to cost around $650 million and feature 115 condos.
Beninati was seeking a partner for the project as recently as August, but told Crain’s that he’s retained the Carlton Group to sell the plan to domestic and foreign credit markets. Bauhouse received demolition permits in November for the project, which Beninati said he would like to see completed in spring of 2019. [DNAinfo] — Dusica Sue Malesevic
Source: The Real Deal