78 Irving signage

Photo: Hailey Development Group/Facebook

Signage is up and a teaser site is out for 78 Irving Place in Gramercy Park.

Located on the southeast corner of Irving Place and East 19th Street, the seven-story landmark building is being converted from rentals to condominiums. The seven revamped residences will measure approximately 1,240 square feet to 4,500 square feet, according to the teaser site, which identifies the developer as Madison Realty Capital.

Renovation work commenced in the summer, as we previously reported.
The 16,000-square-foot, 14-unit apartment building traded in June 2013 for $17.9 million, or $1,115 per square foot, The Real Deal reported.

The developer, via Irving Place Investors LLC, filed plans in August 2013 to reduce the number of units from 14 to seven. PKSB Architects is the architect of record.

The gut renovation will entail full restoration of the landmark facade and the adjacent 1,200-square-foot carriage house, according to the site of Hailey Development Group, which also posted the most recent construction shot of the building above. The development will have new mechanical, electrical and plumbing systems, as well as an enlarged elevator and other upgrades.

The project is previewing in Spring 2015. Douglas Ellliman Development Marketing is handling sales at the property. Below are photos we took of the building from August:

78 Irving Place

78 Irving Place carriage

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