300 East 50th Street
Midtown East, New York
Assemblage of five development parcels and air rights from two generating sites to make way for a 190,000 sq. ft., Class A multifamily development in the burgeoning Midtown East submarket in Manhattan.
300 East 50th Street is currently slated for a 194-unit multifamily building with ground floor retail at the corner of East 50th Street and 2nd Avenue. Krown Point Capital began assembling the site in 2019. The acquisition of the last of the five development parcels was completed in Q1 2022. Krown Point is now part of the development team alongside MAG Partners, KRW Realty Advisors and Safanad who will be developing a 23-story, mixed-income building with thirty percent of the units set-aside as affordable under the Affordable NY program. Designed by BKSK Architects, the building’s strong corner presence and verticality is created by detailed masonry that melds the traditions of the solid masonry corner towers of Manhattan’s Midtown East and Upper East Side neighborhoods.