2024-11-24T05:38:04-05:00 https://archinect.com/news/article/149362110/foster-partners-designed-3-sutton-place-shelved-after-developer-defaults-on-loans Nicholas Korody 2016-03-01T16:52:00-05:00 >2016-03-01T17:12:40-05:00 <img src="https://archinect.gumlet.io/uploads/73/73d908c0b66be9916c3cd5a6dba2ace4?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>3 Sutton Place, a planned 950-foot-tall, 68-story Manhattan condo tower, won&rsquo;t be materializing along the East River. After defaulting on $128.8 million in loans from lender Gamma Real Estate, developer Bauhouse Group&lsquo;s site at 426-432 East 58th Street will face foreclosure sale February 29th. The site currently houses three contiguous five-story apartment buildings, which Bauhouse purchased to make way for the massive Foster + Partners-designed midtown skyscraper project.</p></em><br /><br /><p>Interested in other articles about Foster and Partners? Check out some of our past coverage:</p><ul><li><a href="http://archinect.com/news/article/148814474/masdar-abandons-its-dream-of-becoming-the-first-zero-carbon-city" rel="nofollow" target="_blank">Masdar abandons its dream of becoming the first zero-carbon city</a></li><li><a href="http://archinect.com/news/article/147966038/norton-museum-of-art-breaks-ground-on-foster-partners-designed-expansion-project" rel="nofollow" target="_blank">Norton Museum of Art breaks ground on Foster + Partners-designed expansion project</a></li><li><a href="http://archinect.com/news/article/140830159/the-selective-amnesia-of-foster-partners-maspero-triangle-district-masterplan" rel="nofollow" target="_blank">The selective amnesia of Foster + Partners' Maspero Triangle District Masterplan</a></li><li><a href="http://archinect.com/news/article/141740235/norman-foster-says-he-has-no-power-as-an-architect-none-whatsoever-only-advocacy" rel="nofollow" target="_blank">Norman Foster says he has "no power as an architect, none whatsoever" &ndash; only advocacy</a></li><li><a href="http://archinect.com/news/article/143131227/foster-partners-hok-among-shortlisted-for-massive-palace-of-westminster-restoration-project" rel="nofollow" target="_blank">Foster + Partners, HOK among shortlisted for massive Palace of Westminster restoration project</a></li></ul>