Press

The 26th-tallest building on our year-end construction countdown is 255 East 77th Street, a 535-foottall residential skyscraper in the Lenox Hill section of Manhattan’s Upper East Side. Designed by the late Robert A. M. Stern of Robert A. M. Stern Architects and developed by Naftali Group, the 36-story structure will span 170,481 square feet and yield 62 condominium units. The project will also include 1,650 square feet of retail space, one cellar level, and 22 enclosed parking spaces. Hill West Architects is the architect of record for the property, which is alternately addressed as 1481 Second Avenue and located at the corner of Second Avenue and East 77th Street.

Finishing touches have continued to progress on the exterior, though few changes are visible since our last update at the end of October. The warm limestone façade stands almost fully complete, with the primary exception of the gap in the rear western elevation where the hoist remains attached. Interior should be well underway at this point.

Naftali Group purchased the corner property for $73 million in 2021 and received $236 million in construction financing in the form of JPMorgan Chase’s $195 million senior loan and Starwood’s $41 million in mezzanine debt. Compass Development Marketing Group launched sales for the two- to five-bedroom units in September 2024 and the developer is projecting a sellout of $500 million.

Residential amenities at 255 East 77th Street will include a full-time doorman, concierge service, an outdoor garden, cold storage, a bike storage room, shared laundry room, and a fitness center and health club with a yoga studio, indoor swimming pool, sauna, and steam room. There will also be a package room, lounge, game room, pet spa, children’s playroom, and screening room. On-site parking and private storage space will be available for purchase.

The closest subway from the site is the local 6 train at the 77th Street station to the west along Lexington Avenue. Also nearby is the 86th Street station for the Q train with an entrance at the corner of Second Avenue and East 83rd Street.

255 East 77th Street’s anticipated completion date is set for fall 2026, as noted on site.