Douglaston Development

Douglaston Development, led by Jeffrey Levine, is initiating a residential project on Manhattan’s Upper East Side by acquiring a 90-unit rental property at 1450 Third Avenue. They plan to build a 39-story tower at 175 East 82nd Street, totaling 172 units. Cetra Ruddy Architecture will design the project, featuring retail on the ground floor, parking on the second, and various amenities like a swimming pool and fitness room. Douglaston aims to demolish part of the existing building, with plans filed in October. The property’s market valuation in 2022 was $29.1 million, with a $19 million loan from BankUnited.