Press

A super-tall luxury condominium building being built on E. 77th St. and 2nd Ave. has reached its vertical apex of 500 ft., leaving it towering over the rest of Lenox Hill. In fact, it is reportedly now the tallest building in the neighborhood.

As first reported on by the blog New York Yimby, 255 E. 77th St.’s remaining exterior and interior will continue to be built out until a projected opening date of next fall. The 170,481 sq. foot residential project is being developed by Naftali Group and designed by the architect Robert A. M. Stern Architects (RAMSA), and is now standing at its planned height of 36 stories tall.

There will also be 3,861 square feet of retail space, two cellars, and 33 parking spaces. Concierge service and laundry will be available on-site, as well as amenities including: a yoga room, a fitness room, a pool, a “winter garden” complete with a terrace, a treatment room, a steam room, a sauna, a theatre, a recording studio, a multi-sports room, and a children’s room.

”We have been meticulous about even the smallest of details because, for us, nuance is everything,” the building’s custom-made website proclaims. “Residences have elegant proportions and impeccable finishes. Amenities are elevated to offer exceptional light and views. The architecture builds on the Upper East Side’s legacy of residential sophistication.”

Large chunks of the recently-erected upper floors don’t have exterior cladding yet, as evidenced by a visit to the site by Our Town. However, much of the lower section’s elaborate concrete exterior has been filled in. The building will contain 62 condominiums, some of which are already under contract, according to the building’s profile by the apartment-hunting service StreetEasy. They start at $3 million with some 4-bed options extending above $8 million. Sales are being handled by Compass Development Marketing Group.

The site was bought by Naftali Group for $73 million in 2021. The developer received an initial $236 million in construction financing, $195 million of which came from J.P. Morgan Chase, with the remainder coming from Starwood Capital. In December of last year, they received $140 million in additional financing from J.P. Morgan Chase.

The luxury building could be seen as a bold gambit in a neighborhood known for opposing super-tall structures, which are often deemed out of touch with its relatively low-height “character” by certain residents and preservationist groups alike.

These views often align with the zoning preferences expressed by many members of the local community board, which recently passed an advisory “no” vote on a proposed upward expansion of Northwell Health’s Lenox Hill Hospital–which just so happens to be located a mere two blocks away from the Naftali Group project.

Community Board 8 also has a housing subcommittee that is pointedly dedicated to increasing the supply of affordable units, which are considered to be in short-supply in Lenox Hill and the Upper East Side more broadly, providing another marked contrast with the building going up at 255 E. 77th St.

In fact, Community Board 8’s “Task Force for Residential Rezoning”–which provided a report on its findings last December–described its “goal” as addressing “the need for more affordable housing” on the Upper East Side.