Developer's Daring Plan Involves Floating Condo Building
Developer Paul Boardman has a unique plan to "unlock the value" of a six-story rent-regulated UWS apartment building at 711 West End Ave, without forcing tenants out. Rather than buy the tenants out or wait for it to become deregulated, he's going to build a 10-story condo above it. Here's where it gets even more interesting. To avoid the complicated process of trying to add floors to an occupied building, Boardman and his partners, the Miller family and SJP Properties, have devised a daring plan to have the condo hover above the existing six-story building on steel support beams, the New York Times reports. Other than that, the only things connecting the separate structures would be an elevator shaft and fire escape staircases. The DOB approved the plan (pictured) in June, but tenants have a few worries, like the dangers of construction and potential shadows from the structure. Meanwhile, the seventh-floor tenant, who's apartment is slated to be replaced by the elevator, is refusing to vacate and has already received an eviction notice. Other tenants who refuse access to their apartments for construction are also subject to eviction. Developers say the new structure will benefit the rent-regulated tenants, pointing out perks like central AC, a new lobby and a courtyard. [NYT]
