Sundari Seeks Nirvana, Ceases to Exist

Thursday, June 29, 2006, by Joey

When we last left the much-loathed Sundari Lofts & Tower, trouble was a brewin'. The Post's Dakota Smith reported that the Zen-themed, Warhol-trampling, nearly-Murray Hill development was undergoing a redesign, and the sales office wouldn't be open until at least September. Now even that seems like a pipe dream, because our gal Dakota has an update on the building in today's Post Home section, and the news ain't pretty. Developer Buttonwood Real Estate now seems content to just sell the lot and not build the tower, seeing as how they believe they can more than double their investment. But don't fret, rich Buddhists, studio musicians and Jeremy Piven—Buttonwood is still threatening to build Sundari at another location in Manhattan.
· Sundari Lot for Sale [NYPost]
· Sundary Lofts & Tower [sundarinyc.com]

Filed under Manhattan: Gramercy/Flatiron District, Real Estate Development,

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Comments (5 extant)

Andrew Heiberger is a sharp guy! He'll still make out very well with this decision, possibly better than if decided to build.

Not to surprising given market conditions and outlook.

By UrbanDigs at June 29, 2006 9:41 AM

That is too bad... I really like the rendering. It is hard to imagine that someone else will like to built something on this location next time around. The lot is just too small.

By Anonymous at June 29, 2006 9:42 AM

Selling some Sundari CDs cheap on eBay -- true collectors items!

By babs at June 29, 2006 10:00 AM

It's too bad that they demolished a century old Con Ed substation, used for many years by Andy Warhol as a studio, and are not even going to be able to complete the building. The substation would have been a great loft conversion as it was and featured large windows and prewar industrial architecture.

I predict that the site will stay a vacant lot for some time to come.

By Michael at June 29, 2006 3:17 PM

The site will be developed if it is sold. Developers aren't going to buy to sit.

By Crawford at June 29, 2006 4:59 PM