GEA Projects in the News: Rent-Stabilized Apartments become Condos @ 88 & 90 Lexington Avenue!

February 9, 2017
Apartments in both 88 & 90 Lexington Avenue became rent-stabilized until they were bought out by HFZ Capital which has started the conversion to condominiums. The two buildings will hold 119 units ranging from one-four bedrooms, plus penthouse and duplex townhouse units. The 19- story 88 Lexington will include 70 condos. The existing 13- story 90 Lexington will become 49 condos. Residents began moving into the two buildings last spring. Initial asking prices ranged from $1.8 million for a 1,045 sf one bedroom to $5.75 million for a 2,606 sf four-bedroom. They’ll be topped by five penthouses which are set to hit the market later this year. Forty apartments have sold so far. GEA is providing MEP/FP services for these two buildings.


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