Details Emerge On $135 Million Residential Construction Project At Broadway & 77th/78th

Tuesday, July 3rd, 2012

Rendering of The Larstrand, slated for Broadway & 77th (Image: SLCEArchitects, via NYT)

It’s been more than a year since a string a businesses along Broadway between 77th & 78th closed to make room for a new luxury condo.

Other than a 10,000 square foot CVS being slated for the ground-floor retails space, information on the development has been somewhat scarce, with a smattering of details here and there.

It now appears as though it won’t be a condo after all, but rather an uber-luxury rental building.

The New York Times has a write-up on the new building, currently named the Larstrand (although that may just be a working title). The project costs are expected total $135 million.

When completed in late-2013, the building will rise 20-stories and feature 181 units, ranging in size from 480 square foot studios to sprawling three-bedroom layouts covering 1,700 square feet.

Per NYT:

Rents for the three-bedrooms, which will be on the corners with views of Broadway, are expected to be $90 a square foot, Mr. Scaglion said, and one-bedrooms, which will average 700 square feet, could cost around $80 a square foot. That comes out to around $13,000 and $4,750 per month, respectively. (Twenty percent of the units will be offered below market rents for qualifying tenants.)

In order to justify the prices, the building will feature a variety of luxury amenities, including an outdoor movie theater on the 4,800 square foot roof deck and top-of-the-line kitchens and bathrooms:

Bath mirrors will be defoggable with the flick of a switch; a portion of mirror surface will have a television built in.

Despite it’s Broadway frontage, the building’s address will be 227 W. 77th.

The article notes that the planned CVS will take up only about 25% of the 40,000 square feet of retail space available. No word yet on other potential commercial tenants.

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