Development Watch: Unstable at 255 Fourth Avenue?

The condo build at 255 Fourth Avenue, on the corner of Carroll Street, hit a major snag a few weeks ago when it became apparent that construction was destabilizing the building next door. According to a source, residents in the neighboring building had to be evacuated, and there’s now a partial stop-work order on the project’s DOB page. Contractors have apparently been brought in to buttress the existing building before construction on 255 Fourth proceeds. The 12-story condo was designed by—wait for it—Scarano Architects and, according to property records, is being developed by Essex Capital Partners. Essex, which is headed by Mitch Rutter, is best known as a big-time player on Manhattan’s commercial real estate scene; the firm received a lot of press in 2000 when it announced (and shortly thereafter scrapped) plans to build a Norman Foster-designed skyscraper on Fifth Avenue and 42nd Street.
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Feb 06, 2012 | 12:32 PM