After years in the making, a proposed eight-story condominium at 75 First Avenue has begun construction. Plans for the lot, located between 4th and 5th Street in the East Village, started back in 2005 and faced several setbacks - including the downzoning of the neighborhood and a fallout between previous joint owners, Colonnade Group, Ozymandius Realty and Orange Management. In 2015, Colonnade purchased the partners' shares for $12.9 million in 2015 and is now moving ahead with the project alone.
Long-established design firm, HTO Architect, is designing the building. Plans confirm that the glass-and-metal embossed building will rise to 8-stories, encompassing 22 one- to three-bedroom residences. The Serhant Team of Nest Seekers International's will be handling sales.
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Residences will offer French-designed interiors by Stefano Farsura. Amenities will include a fitness center, lounge and library, private and common roof deck area, storage, bike storage, and a full-time doorman. The estimated completion for the long-awaited East Village project was slated for fall 2017, but having just broken ground in September, that timetable appears unlikely.
Excavation work now underway; CityRealty
Photo from 75 First Avenue's groundbreaking ceremony
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