Macklowe Files Plans to Convert Madison Avenue Rental Into Condos
Macklowe Properties has filed permits to turn a 12-story, 33-unit rental at 809 Madison Avenue into a 14-story building with 12 condominiums. The project, also addressed at 30 East 68th Street, is estimated at $12 million and will include ground-floor retail. One upper-floor unit is planned with a private terrace, and Robert A.M. Stern and SLCE Architects are listed as architects.
Macklowe Properties has submitted permit filings for a residential conversion at 809 Madison Avenue. The existing 12-story building contains 33 rental units, and the proposal would create a 14-story structure with 12 condominiums. The site is also identified as 30 East 68th Street.
The estimated cost is $12 million. Plans call for ground-floor retail and one upper-floor residence with a private terrace. Robert A.M. Stern and SLCE Architects are named as architects on the project.
The shift from 33 rentals to 12 condominiums could affect current tenants and future renters by reducing rental options at this address. It may also change the building’s street-level presence through ground-floor retail and create ownership opportunities for buyers. Neighborhood residents and local businesses could feel indirect effects as the property’s use evolves. How those effects unfold may depend on the conversion’s execution and market conditions.