Lakeview Apartments spans an entire city block overlooking central park in East Harlem.
The new owner of the property, a prominent real estate investment group, came to us after larger firms were unable to provide adequate options to maximize floor space. Our expertise in due diligence and site examinations allowed us to capitalize on what others overlooked. We provided a comprehensive program analysis to pull together the disjointed facilities and unused spaces around this upper east side city block, subdividing the plot and maximizing FAR.
EDG consolidated the previous incohesive lobby spaces into two distinct lobbies — an East Lobby on Madison Avenue and a West Lobby on 5th Avenue. This organized the flow of traffic, increased security and visibility, and allowed space for new community facility areas.
A critical success driver of this project was the careful consideration of the new owner, as he made sure to shake every resident’s hand, look every individual in the eye, and listen and learn about the tenants’ needs. This clear communication set him up to develop a successful property that both increases value and elevates the lives of those who live and work at Lakeview Apartments.
With the combined efforts of our team and the new owner, we discovered that we could build an additional 22-story building completely independent of the site, offering more opportunities to provide comfortable, secure affordable housing for this community.
Ultimately, we captured about 40,000 sq. ft. of unused space and built out 250,000 sq. ft. of the site, completely transforming the property into something distinctly remarkable.