The Lincoln Property Company, one of the nation's largest real estate developers, is assembling a mid-block development site to the west of the Peninsula Hotel on 55th Street between Fifth Avenue and the Avenue of the Americas.
It owns the sites at 12 to 18 West 55th Street and in recent months has entered into agreements to acquire the unused air rights at 7 and 9 West 54th Street. There is a low-rise building it does not own at 10 West 55th Street that is adjacent to the Peninsula Hotel.
Lincoln is based in Dallas but has a New York City office, which is headed by Martin Piazzola, formerly an executive vice president of The Clarett Group, one of the city's more active residential developers. CityRealty.com tried unsuccessfully today to reach Mr. Piazzola by phone.
An article by Lois Weiss in today's edition of The New York Post indicated that Lincoln is planning a "condo hotel" at the location and that it had 120,000 "buildable feet" including the townhouses it owns at 12 to 18 West 55th Street and air rights from 9 West 54th Street, which was declared an official city landmark January 27, 1981 and was originally the James L. Goodwin residence and was designed in 1908 by McKim, Mead & White, and is now used by the U. S. Trust Company.
The building at 7 East 54th Street was originally the Philip Lehman House and was designed by John H. Duncan in 1900 and for many years it housed the splendid art collection of Robert Lehman that is now at the Metropolitan Museum of Art.
The Peninsula Hotel at 2 West 55th Street was originally the Gotham Hotel and was designed by Hiss & Weekes in 1905 as a luxury hotel to compete with the similar St. Regis Hotel completed the year before directly across Fifth Avenue.
Lincoln's site is a block south of the handsome mid-block Chambers Hotel on West 56th Street that opened a few years ago. It is also across 55th Street from the Fifth Avenue Presbyterian Church and the south side of the development is also likely to overlook the Museum of Modern Art garden on West 54th Street.
An "as-of-right" development on the site might result in a tower of about 30 to 40 stories with perhaps a 100 or so condo hotel units.
It owns the sites at 12 to 18 West 55th Street and in recent months has entered into agreements to acquire the unused air rights at 7 and 9 West 54th Street. There is a low-rise building it does not own at 10 West 55th Street that is adjacent to the Peninsula Hotel.
Lincoln is based in Dallas but has a New York City office, which is headed by Martin Piazzola, formerly an executive vice president of The Clarett Group, one of the city's more active residential developers. CityRealty.com tried unsuccessfully today to reach Mr. Piazzola by phone.
An article by Lois Weiss in today's edition of The New York Post indicated that Lincoln is planning a "condo hotel" at the location and that it had 120,000 "buildable feet" including the townhouses it owns at 12 to 18 West 55th Street and air rights from 9 West 54th Street, which was declared an official city landmark January 27, 1981 and was originally the James L. Goodwin residence and was designed in 1908 by McKim, Mead & White, and is now used by the U. S. Trust Company.
The building at 7 East 54th Street was originally the Philip Lehman House and was designed by John H. Duncan in 1900 and for many years it housed the splendid art collection of Robert Lehman that is now at the Metropolitan Museum of Art.
The Peninsula Hotel at 2 West 55th Street was originally the Gotham Hotel and was designed by Hiss & Weekes in 1905 as a luxury hotel to compete with the similar St. Regis Hotel completed the year before directly across Fifth Avenue.
Lincoln's site is a block south of the handsome mid-block Chambers Hotel on West 56th Street that opened a few years ago. It is also across 55th Street from the Fifth Avenue Presbyterian Church and the south side of the development is also likely to overlook the Museum of Modern Art garden on West 54th Street.
An "as-of-right" development on the site might result in a tower of about 30 to 40 stories with perhaps a 100 or so condo hotel units.
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.
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