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The firm behind a 37-story project at 655 Madison Avenue (between East 60th and 61st streets) may have more grandiose plans for the site than originally expected.
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According to a report by Crain’s New York Business, Extell Development is planning to tear down a cluster of buildings located at 33, 35, 37 and 39 East 60th Street. The properties, which are located around the corner from 655 Madison Ave., take up about 28,000 square feet combined and are five stories each.
When Crain’s first reported its story on March 6, all four addresses were still listed under the ownership of Solil Management, a subsidiary of the real estate empire founded by the late Sol Goldman. Even now, the buildings are listed for sale on Solil’s website. However, city records currently indicate that Extell owns the properties.
UPDATE: According to a March 13 post by @TradedNY, Extell has purchased the buildings for a combined $103,300,000.
Extell hasn’t publicized how it is planning to make use of the properties. However, based on the proximity to 655 Madison Ave. and the company’s plan to build a mixed-use development there that includes 62 residences as well as retail and hotel space, it’s possible that Extell is considering widening that project’s scope. East Side Feed reached out to Extell but did not hear back by press time.
The buildings are currently home to some Upper East Side favorites: 33 East 60th Street is home to the well-known upscale Chinese restaurant Philippe Chow, while Italian restaurant Il Mulino is located at 37 East 60th Street. Staff at Philippe Chow wouldn’t comment on the situation. A manager at Il Mulino told Our Town NY last week that their staff was aware of the news. “Our new thing is that the secret is out,” they told the outlet.
Extell, a prolific developer with projects all over Manhattan, recently sold an Upper East Side property located at 355 East 85th Street (at First Avenue) to Chess Builders for $50 million.
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