Development Update-O-Rama: 325 Lexington Avenue Will Finally Launch Sales This Fall

Jessica Dailey
Curbed New York

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Screen-Shot-2014-08-22-at-10.01.47-AM.jpg

It's been a long road to reality for 325 Lexington Avenue, but the 33-story condo tower is finally nearing completion and will launch sales this fall. Plans for a zig-zagging building by Studio Dror were dropped, and H. Thomas O'Hara was brought on to create the slightly cantilevered building rendered and sketched above (YIMBY has a few construction shots from last summer showing the facade). Developed by Carmel Partners (their first condo project in NYC) and Times Square Construction & Development, the building, located between 39th and 38th Streets in Murray Hill, holds 123 units studios, one-, and two-bedrooms and two full-floor penthouses.

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Screen-Shot-2014-08-22-at-10.02.06-AM.jpg

[Screenshot of the teaser site]

Carmel has not released even a hint of pricing information, but they have launched a teaser site. StreetEasy shows that the overall median sale price in Murray Hill is $787,000, but the neighborhood's many co-op buildings bring this figure down. The median price for a one-bedroom condo is $1.087 million, which is a much more likely price point for 325 Lexington.

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325-Lexington-Avenue.jpg

· 325 Lexington Avenue [official]
· 325 Lexington Avenue coverage [Curbed]