MRR Development Nears Completion on 145 Unit Malabar Residences Tower in Midtown East

• MRR Development is nearing completion of a 145-unit condo tower in Midtown East
• The project spans over 140806 square feet with retail and luxury amenities
• Delivery is expected in early summer

What MRR Development is delivering in Midtown East

Construction is nearing completion at Malabar Residences, a 28-story condominium tower at 126 East 57th Street in Midtown East. The project is being developed by MRR Development and will deliver 145 residential units. The building rises 346 feet and spans 140806 square feet, adding new inventory to a prime Manhattan submarket. Units range from studios to three-bedroom layouts, with an average size of 971 square feet. The development also includes 4114 square feet of retail space, creating an additional income component at the base of the property.

What the design and amenities signal to buyers

Designed by ODA Architecture, the tower features a modern facade with glass paneling and structured detailing. A porte cochere entrance and multiple terraces add to the building’s upscale positioning. Amenities include an indoor pool, fitness center, basketball court, sauna, lounges, and rooftop spaces. Two-thirds of the units will also feature private outdoor areas, a key differentiator in the Manhattan market. This level of amenity package positions the property to compete with other high-end condo developments in Midtown.

What this means for Manhattan condo demand

The project is located near major transit hubs and within close proximity to Billionaires Row, placing it in one of the most competitive residential corridors in New York City. New condo supply in Midtown East continues to target buyers seeking luxury finishes, amenities, and central access. Developments like Malabar Residences are designed to meet that demand. For developers, the project reflects continued confidence in the high-end Manhattan condo market despite broader market fluctuations.

What to watch as completion approaches

Exterior work is largely complete, with interior finishes progressing and model units already finished. Final construction is expected to wrap in early summer. As the project nears completion, sales velocity and pricing will be key indicators of demand in this segment of the market.