255 East 77th Street Update 12/08/23

Developer Lands $236M Loan for Lenox Hill Tower Project

Developer, , has secured a $236 million loan for a 33-story, residential tower project, set to replace 4 demolished, low-rise buildings, at 255 East 77th Street in Manhattan's Lenox Hill neighborhood. Issued by J.P. Morgan, this influx of capital will be used to fund all construction costs from the ground up.

The new building is set to contain luxury condo units. Plans also call for square feet of ground-floor retail space, and an enclosed parking garage, with enough room for vehicles.

Tenant amenities are to include a swimming pool, a fitness center with a yoga studio, a treatment room with a sauna, a roof deck, a resident lounge, and a mailroom.

Designed by Robert A.M Stern Architects (RAMSA), with Hill West serving as the architect of record, the tower will stand feet tall and total square feet. Building permits are being reviewed by the plan examiner, but construction should begin shortly after those are obtained. A date of completion for the project is not immediately clear at this time.

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