A Brooklyn-based developer is planning a new luxury condo project on a historic Upper East Side site, bringing high-end units to a vacant lot that once housed a JPMorgan executive’s carriage house.
Why It Matters: The development at 237 East 77th Street between 2nd and 3rd avenues represents continued investment in Upper East Side luxury housing, transforming a problematic vacant property into multimillion-dollar homes.
The Big Picture: Terra Developers filed plans for a 7-story, 75-foot-tall building spanning about 17,000 square feet, as detailed by project coordinator Yana Morgan and recent filings with the Department of Buildings, Crain’s New York Business reports. The project will feature six residential units with amenities including a children’s playroom, private storage and a gym.
Zoom In: The site has a storied past as the former carriage house of George Whitney, who joined JPMorgan in 1915 and retired as chairman of the board in 1955, according to Crain’s. Whitney’s grandson sold the property to prominent photographer Albert Watson in 1977, and it later hosted a community center before being demolished by the previous owner.
State of Play: The vacant lot has been problematic for the neighborhood. In December 2024, the New York City Department of Health and Department of Sanitation sued the prior owner for access to the fenced-in and chained-shut property in Lenox Hill, citing conditions ripe for rat infestations that required remediation, Upper East Site reports.
What’s Next: Construction is slated to begin in about six months, with an 18-month timeline for completion, Crain’s notes. Each condo is expected to sell for approximately $4 million.
