JD Carlisle, Fosun Property Release Plans for 126 Madison Avenue
After months of alluring promises, details are finally coming to light about the tower planned for the corner of East 30th Street and Madison Avenue. The site was originally bought as 15 East 30th Street, but new plans reveal that the residential tower’s official address will be 126 Madison Avenue.
The property is being developed as a joint project of JD Carlisle, which has its offices in NoMad, and Shanghai-based Fosun Property. Fosun is relatively new to the city, but the Chinese developer has already made serious investments, including purchasing the One Chase Manhattan Plaza.
126 Madison will contain 180 condo units spread out over 350,000 square feet. At 47 stories, it will be distinctly taller than any other building in the neighborhood. The façade will be glassy and sleek, with an angular roof capping the project.
The building’s exterior is being designed by Handel Architects. Handel’s unique modern style can be seen all over the city, from the Dream Downtown Hotel in Chelsea to the Flushing Pool and Ice Rink. Construction will begin this year, and is expected to be completed in 2018. Condos will begin selling in 2016.