In case you've been living under bedrock, buildable land is scarce in Manhattan. Gas stations, parking lots, railyards, and taxpayers are the usual easy pickings gobbled up by our ravenous developers to house our growing populace. As these lots become more scare, formerly overlooked scraps of land become enticing. Illustrating how NYC developers will leave no spare FAR unturned, Azimuth Development Group are developing an eight story apartment on a 3,749 square-foot, Nevada-shaped parcel overlooking an off-ramp to the Ed Koch Queensboro Bridge. The former parking lot at 321-323 East 60th Street between First and Second avenues was part of a portfolio of seven buildings sold by Arthur Brown, a co-founder of Manhattan plumbing company Holby Valve.
Azimuth, who has developed a number of affordable housing projects throughout the city, is building a 21-unit, 25,069 square foot rental building at the site, where 100% of the apartments will be earmarked for low-income households. The developers purchased the hemmed-in lot for $12 million ($3,200 per square foot) in 2015 and filed permits shortly after. Though the price may seem steep, especially for affordable housing, broker David Schechtman of Eastern Consolidated in 2014 told The Real Deal that the site’s appeal is that a developer can opt-in to the city’s Inclusionary Housing Program, which would generate 80,000 square feet of transferable air rights to anywhere within the Upper East Side's district for Community Board 8.
Aufgang Architects are the designers, and penned their usual blocky patchwork of stucco and brick materials for the exterior. The first floor will host a garage with nine parking spaces, a residential lobby, and bike storage. The next seven floors are essentially identical and each will have three units and a shared laundry room. One perk of having an elevated off-ramp running over your front door is that the building will have one of the largest canopies in the city. The property has already risen to its sixth floor, and should be complete early next year 2017.
Related Articles
Future New York
Price Cuts: "Big" screenwriter's Cobble Hill townhouse trimmed by $900K; Lantern House junior penthouse drops below $10M
Wednesday, June 24, 2026
Future New York
Landmarks praises residential conversion/restoration of NoMad's Baudouine Building, Seeks revisions to rooftop addition
Tuesday, June 23, 2026
Iconic Addresses
Paul Newman's parkside office sells 47% over ask; Pre-war condo conversions lead Manhattan sales
Tuesday, June 23, 2026
Future New York
Brick is Back: NYC developments revive the warmth of masonry; See Morris Adjmi's new design for 277 Canal Street
Friday, June 19, 2026
Coney Island
Knicks in Five: 35 NYC condo and rental buildings with basketball courts
Thursday, June 18, 2026
Future New York
Price Cuts: Baz Luhrmann’s Gramercy townhouse slashed by $7M; New discounts at Brooklyn and Queens’ tallest towers
Thursday, June 18, 2026
Future New York
NYC Contracts: $80M trophy penthouse signed at 80 Clarkson; One High Line's last penthouse finds a buyer
Tuesday, June 16, 2026
Future New York
6sqft delivers the latest on real estate, architecture, and design, straight from New York City.
