April 18, 2016
New York City’s housing shortage continues to be a huge issue. So Paul Boardman of P2B Ventures and Steven Pozycki with SJP Properties think they’ve found a solution – stacking new buildings on top of old ones.
The developers are eyeing a 1950s, six-story, red-brick residence at 711 West End Ave. on which they are proposing to build a nine-story condominium. The levels would sit on a concrete platform, supported by steel columns embedded in rock outside the existing building. The buildings would be connected by elevators, staircases and utility lines. They would also share lobbies and amenities.
Though some tenants are concerned about the impact on their rent-regulated apartments, the plan has been approved by the Department of Buildings, which is awaiting a final review of the site.