The 325-unit tower still requires $160 million in financing.
The buildings' replacement, a 12-story, 65-unit tower, is projected to be finished in 2013.
Sutton Place is made up primarily of town houses, though this condo is in a 12-story, 192-unit tower.
In fact he was the sales director for one of the area's first luxury condos, 123 Third Avenue, at East 14th, a 48-unit tower completed in 2009.
Which is why people like Phyllis Gonzalez, the tenants association president, say there is reason to fear the 168-unit tower planned for the site.
Douglaston Development recently began leasing apartments at Ohm, a 288-unit tower at 312 11th Avenue and 30th Street, just north of the heart of West Chelsea's nightlife.
So Mr. Neiditch decided to create something unique in a 469-unit tower that was not designed to offer such grand spaces.
Designed in 2008 by Rem Koolhaas, the cantilevered 21-unit tower has been permanently shelved, according to a source close to the project.
The first, called the Forté, at 230 Ashland Place, is a 30-story 107-unit tower being built from the ground up.
When finished, the 500-unit tower will be the city's second-tallest building after the Connecticut Financial Center and, eventually, its largest taxpaying structure.
Dwell95 The glass-and- steel corporate bunker at 95 Wall Street was reimagined by the designer Philippe Starck as boutique housing. 2 Gold Street This 51-story, 650-unit tower replaced two smaller office buildings.
