Developers Eye $360 Million Upper East Side Site for Potential Super-Tall Tower

A 20,000-square-foot site at 143-161 East 60th Street, once envisioned for a 1,000-foot-plus skyscraper, is now listed for $360 million after the original six structures were razed. The parcel provides approximately 283,000 square feet of buildable area and zoning that permits residential or commercial use with no explicit height limit. Broker Marlon Schwarcz estimates that constructing an ultra-luxury tower could push total investment to around $1 billion, whereas an affordable-housing project might require $100-300 million.

Interest is coming from top-tier developers, many of whom have projects on nearby Billionaires’ Row, with offers arriving within a month of the listing and a potential agreement expected in about 90 days. The land was previously bought by Chinese developer Kuafu Properties for $300 million in 2015, but its ambitious designs never materialized due to internal changes. The seller is not under pressure, emphasizing that the transaction hinges on financial terms.