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A century-old Upper East Side building is set for a high-end transformation, and longtime developer Harry Macklowe is leading the charge.
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The 12-story property at 809 Madison Avenue, located at the corner of East 68th Street, has been acquired by Macklowe Properties in partnership with SK Development, The Real Deal reports. The developers paid $49 million for the building, which has sat vacant for several years (since 2022, according to Commercial Observer).The project will involve converting the 1920s structure into a limited number of ultra-luxury condominiums. Plans reportedly include expansive, single-floor apartments—roughly 4,000 square feet each—and a penthouse unit with a private 1,500-square-foot terrace.
While redeveloping properties in landmarked areas can be challenging, Macklowe was able to secure the necessary approvals from the Landmarks Preservation Commission to move forward. The renovation will be designed by Robert A.M. Stern Architects and SLCE Architects, with units expected to start above $20 million.
Churchill Real Estate Holdings previously purchased the building in 2019 for $55 million but struggled to move forward with a redevelopment. Last year, they sold off the building’s ground-floor retail space separately for $9 million, paving the way for the current residential conversion.
Macklowe, who turned 88 this summer, is no stranger to ambitious projects. His prior work includes the high-profile conversion of One Wall Street in the Financial District and the development of 432 Park Avenue—one of the tallest residential towers in the world.
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Despite recent headlines involving litigation and a high-profile divorce, Macklowe appears undeterred. In addition to this Madison Avenue venture, he is also working on a new condo project in South Florida.No timeline for construction has been announced.
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