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Carter's View

The 12-story, two-building residential condominium complex known as 260 Park Avenue South on the southwest corner at 21st Street is almost sold out.

There is only a handful of units left in the conversion of two buildings on the site that formerly belonged to the United Federation of Teachers.

In addition to the 8-story building at 260 Park Avenue South, the project includes the 12-story building at 48 West 21st Street.

In 2003, the properties were sold to Max Capital, lead by Adam Hochfelder, and Developer Yitzchak Tessler of Linjan Associates LLC, and the co-investment division of Insignia Financial Group.

While the developers added four floors to the eight-story building on Park Avenue South, they carved a niche from the back of the 12-story building on 21st Street to provide more "light and air" to rear apartments and to create a rock garden.

The project will have a total of about 100 condominium apartments in the two buildings that will have a concierge and a health club and have laundry facilities on each floor. The two buildings will share a lobby with limestone floors and ebony and stone walls, and three elevator shafts permit no more than five units on a landing. They will have parking for about 100 cars and many ceilings are 13 feet high.

Most bathrooms will have travertine walls, two sinks and a "stone encased" six-foot bathtub. The building has a fitness center, 24-hour concierge service and four rooftop gardens. One of the penthouses has a swimming pool.

A recent listing for a two-bedroom apartment with two-and-a-half baths and a total of 2,431 square feet was priced at over $3,000,000.

Karl Fischer Architects is the architect for the project.

The corner building is distinguished by the strong verticals of its terra-cotta facades and the quite compatible addition at the top where the two-highest floors are setback.

Mr. Tessler's other projects have included 150 Nassau Street and 66 Leonard Street and his company also has plans to build a 17-story residential condominium building at 240 Park Avenue on the northwest corner at 19th Street, currently occupied by several vacant low-rise buildings. Gwathmey & Siegel Architects are the designers of the 240 Park Avenue South project.
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Architecture Critic Carter Horsley Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.