260 Park Avenue
Park Avenue South is a Manhattan neighborhood that developed in the early 1900’s with mid-rise, commercial buildings, mostly of steel and stone.
Many of these buildings were restored during the 1980’s and 1990’s during the gentrification of the “Flatiron” district. 260 Park Avenue South was a historic restoration condominium project involving the conversion of three buildings, one sold as is, one twelve stories and the other 14 stories. These buildings are located on the corner of Park Avenue and 21st Street near Gramercy Park.
The completed project has more than 200,000 square feet of gross residential space, 110 living units with retail space, along Park Avenue and 21st Street. The project team included Monday Properties, Karl Fischer Architects, RC Dolner Construction, and Insignia Douglas Eliman.
Project Summary: 110 Luxury Condominium Conversion
Total Project Cost: $110,000,000
Financing: Private Equity and Opportunity Fund Debt
Primary Services: Short Term Consulting involved with managing the design and construction scope and cost development to achieve a guaranteed maximum price for construction costs.