Case Study 9: Combine 2 SROs into an 11-Unit Condominium

 

Project: The Savoy

 

Client: Joint Venture Partnership

 

Location: 126th Street at Lenox Avenue, NYC

 

 

Client Goals:

To rival surrounding new development by creating a boutique, high-end condominium , designed for much less cost and with greater elegance than the typical ″cookie cutter″ approach taken with other larger buildings in the neighborhood.

 

Challenges:

Combine two existing SRO′s, making sure not to trigger a New Building permit requirements, which would have led to construction delays, and increased project cost. Maximize the newly created 34′ wide lot, by keeping much of the old structure intact. Design optimal layouts to deliver the client the greatest possible sales values per square foot.  Steer client through all Code issues, to legally eliminating several onerous ADA (handicap) requirements, while retaining optimal design.  Complete the initial application process in time to qualify for invaluable ″421″ tax benefits before the program′s cancellation.

 

End Result:

Found ideal location one block from the epicenter of the most sought-after real estate in Harlem:125th Street and Lenox.