Wednesday, September 20, 2006

Spa condo to debut on Upper East Side


Arizona-based spa Miraval wants to bring a bit of the desert to the Upper East Side.

The luxury spa resort outside Tucson, which has hosted celebs like Oprah Winfrey, Jim Carrey and Janet Jackson, is in discussions to launch a condo project at River Terrace at 515 East 72nd Street, combining upscale living with meditation, mud wraps and massages, according to industry sources.

C & K Properties, David Werner and other investors bought the 41-story rental building in the summer of 2005, paying $363 million to the Macklowe Organization, and planned a condo conversion.

The new project will contain 360 units and be Miraval's first project in the urban marketplace, though not its first foray into condos. Last year, the spa resort, whose owners include former AOL chairman Steve Case, announced it would begin selling villas at its Arizona resort priced between $700,000 and $1.5 million.

In the Upper East Side project, the property's 16,000-square-foot outside garden will be the largest of its kind in New York, said a spa spokesman. It will include an 8,000-square-foot gym and basketball court, and residents will be offered services such as organic meal plans and access to a network of alternative healthcare healers.

In May, Canyon Ranch, another big-name spa resort based in Tucson, announced plans to build a 67-story tower in Chicago overlooking the Magnificent Mile, linking up with builder LR Development. The $450 million project, expected to break ground early next year, is Canyon Ranch's first "urban lifestyle community," with a 65,000-square-foot health and wellness center, 250 luxury condos and 125 hotel-condominium rooms. Doctors, therapists and other specialists from a local clinic are on call.

read more at source: THE REAL DEAL - NYC REAL ESTATE

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