Exclusive | NYCs biggest builders are circling a $360M vacant lot that could become the citys next supertall tower

A long-stalled Upper East Side development site once envisioned as the home of a 1,000-foot-plus skyscraper is back up for grabs — this time with a $360 million price tag.The six-parcel assemblage at 143-161 E.60th St., directly across from the Bloomingdale’s flagship and steps from Lexington Avenue, last traded for $300 million in 2015.

Now, more than a decade later, the seller is seeking $60 million more for the roughly 20,000-square-foot site, which offers about 283,000 square feet of development potential.And unlike the last time the property changed hands, the old buildings that stood on the lot are now gone, leaving developers with a cleared site and a rare chance to make their mark on the Manhattan skyline.The property’s zoning allows for residential or commercial development and, crucially, has previously been marketed as allowing a tower without a height limit — opening the door for a future developer to once again shoot for the sky.But buying the dirt could be just the beginning of the bill.Listing broker Marlon Schwarcz estimates that developing a high-end project on the site could require roughly $500 million on top of the land acquisition.“Usually, you look at 2 times from whatever the acquisition price is” as a typical indication of the capital needed for a project, Schwarcz said.“Now, for the ultra-luxury, you go 3 times the original acquisition.”At the $360 million asking price, that could put the overall investment needed for an ultra-luxury project in the neighborhood of $1 billion.At the other end of the spectrum, Schwarcz said the site could be developed as affordable housing, which he estimated could cost roughly $100 million to $300 million to build.Some of New York’s biggest builders are already circling.Schwarcz said he has received offers from major developers, including players with projects on nearby Billionaires’ Row.“I can’t say the names,” he said.

“But what I can tell you, it’s top 10 — often people th...