With sales at Gramercy Square and 88&90 Lexington winding down, a new batch of residentials are moving fowrward along the mid-rise blocks between Murray Hill and Gramercy sometimes being marketed as Rose Hill by developers. Between Third and Lexington avenues at 128 East 28th Street, a ground-up boutique condo designed by TRA Studio has topped out construction.
Situated off a Lexington Avenue corridor once commonly known as “Little India,” the project replaces two undistinguished low-lung buildings on a block composed of a classic New York hodgepodge of pre-war buildings. The Beaux-Art-styled Park South hotel rises adjacent to the lot.
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Streetview of 128 East 28th Street
Construction as of early March 2020
Renderings first surfaced on the architect’s website, showing an eight-story building with retail at the ground floor, The street-facing exterior will boast sinuous steel-encased columns said to recall the masonry and stone pillars of surrounding historic structures. The heft of the columns does not meet the ground, however. Rather, TRA explains, that the visual mass of the upper floors floating above a transparent ground level is meant to recall the "heroic classic modernist’s buildings of the 1960s and 70s, where the street effortlessly slides under the building."
TRA further explains the design is an example of “how to create a modern aesthetic that respects the old context.” Strong vertical piers with sloping window walls articulate the street-facing façade. The upper three floors are setback providing opportunities for outdoor spaces. The rear façade will be nearly fully glazed and have balconies.
An offering plan approved last fall shows the condo will have a total sellout price of $30,484,000 for 11 residential units and a commercial unit. The 217 condos presently available in Gramercy come in at a median of just under $2,000 per square foot. One-bedrooms come in at a median of $1,545,000 and two-bedrooms at $2,612,000. Nearby, at 88&90 Lex, a penthouse, previously listed for $11 million
, was signed into contract and would be among the priciest deals along the corridor.
Looking at the permits, which were filed by Sinha Development, the eight-story condo spans roughly 20,413 square feet, with nearly 17,332 reserved for residential spaces. There will eleven residences including a duplex between the seventh and eighth floor with a private terrace.
At the base, a total of 3,076 square feet of retail will be provided. The project displaces an Indian grocer and a beauty salon.
According to Real Estate Weekly, tthe developer is also planning a 27-unit residential building at 36 East 112th Street in East Harlem.
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