NEW YORK--(BUSINESS WIRE)--The Bauhouse Group, a New York City-based real estate development and investment firm, today announced a completed Manhattan assemblage at 426-432 East 58th Street. Additionally, Bauhouse recently completed the purchase of air rights, enabling the developer to construct a 269,000-square-foot residential building on the site.
“We could not be more proud of the elegant building that our world class team is designing for this site,” said Joseph Beninati, Managing Member of The Bauhouse Group. “The history of Sutton Place combined with the neighborhood’s proximity to the City’s next generation of development – including the new Cornell Technology campus - makes our location one of the most desirable areas in all of Manhattan.”
The residential development at Sutton Place will consist of approximately 95 condominium units that will offer some of the finest views in Manhattan. The project, which is scheduled to begin construction this summer, will be designed by Foster + Partners led by Norman Foster.
“In the upcoming weeks we will present our specific plans for the site and conduct an open dialogue with members of the Sutton Place community,” said Chris Jones, Co-Founder of The Bauhouse Group. “We’re looking forward to this discussion and the next phase of this exciting development.”
In addition to the Sutton Place assemblage, The Bauhouse Group is developing 515 Highline, a luxury condominium at 515 West 29th Street – the only location in Manhattan framed on two sides by the famed High Line park. The $125 million development has been designed by award-winning architect Soo K. Chan, and will feature sophisticated residences ranging in price from $5 million to $20 million. 515 Highline is slated to begin sales in late spring 2015.
Additionally, the firm has various other deals in the pipeline which are expected to be announced this year.
