Historic Upper East Side Teeming with New, Modern Luxury

Having spent my childhood growing up in Manhattan I’ve been a first-hand observer of the many changes taking place all over the city.  I’ve seen buildings torn down, and new ones put up in the blink of an eye. For me, this is precisely what makes New York one of the most exciting and vibrant cities in the world. Since I do so much of my work on the Upper East Side, many clients ask me what’s new in the neighborhood. I thought I’d share with you some of the new buildings emerging between 72nd to 92nd Streets, which are soon going tosignificantlyalter our city’s landscape. Each spans the culturally saturated, architecturally beautiful neighborhoods of the Upper East Side. They include:

• Sixty East Eighty Sixth
• 33 East 74th Street
• 155 East 79th Street
• 1110 Park Avenue
• The Extell Building (Park Avenue Christian Church)

SIXTY EAST EIGHTY SIXTH

Two small buildings were torn down on 86th Street between Park and Madison to accommodate a new, super-luxury condo, scheduled to open in the spring of 2015.  If you were to pass by it today, the only thing you’d see is a hole in the ground. But if all goes according to schedule, we should see a gorgeous building featuring modern design, extreme elegance, and superb amenities. It will offer 15 units, 12 single-floor and three marquee residences, expected to sell for $7 million and up. Three apartments are already in contract, including the penthouse, the 10th floor duplex, and the townhouse/maisonette.

Designed by Danish Thomas Juul Hansen the new residences will feature 10 high ceilings, beautiful, dramatic windows  and super elegant finishes. The kitchens are gorgeous and gleaming with white marble slab counters, custom lacquered cabinetry, Gaggenau appliances, and Swiss Alps’ quartzite for floors. Amenities include a 24-hour doorman, a well-appointed lobby library, fitness center, wine cellar, a children’s playroom, dedicated storage and indoor parking.

33 EAST 74TH STREET

In a stunningly beautiful, uber-luxurious new development adjoining the Whitney Art Museum, real estate developer Daniel E. Straus, is stripping all but the historic facades of six Civil War-era brownstones, plus a dilapidated, turn-of-the-century mansion, to create some of the most well-appointed luxury apartments on the Upper East Side.

The building will feature ten apartments ranging in size from 3,800 to over 10,000 square feet. In addition to the fully restored Atterbury Mansion, which will be converted to a private townhouse consisting of three floors with five bedrooms each, there will also be three penthouse residences (a simplex, duplex and triplex), all featuring private terraces, some as large as 2,200 square feet.  Prices range from $14.5 million to $17 million. The building will also have a 24-hour attended lobby, custom-designed elevators with direct apartment access, a private fitness center, and large individual storage units.  With one apartment already sold, the building is scheduled to open in the second quarter of 2015.

155 EAST 79TH STREET

This new building, which will be built up over a fairly slim space – but still 14 stories high – will have seven luxury apartments, all duplexes. It’s scheduled for occupancy in early 2015. The new residences are expected to fetch anywhere between $9 million and $18 million. The site was formerly a much adored, single-level marble building that in more recent times housed a restaurant, candy store, and an antique shop. Designed by BKSK Architects and developed by Anbau Enterprises, the apartments will each have four to five bedrooms, and range in size from 3,300 to 4,500 square feet. Amenities include a 24-hour doorman, a private fitness center, and individual storage rooms.

1110 PARK AVENUE

The Toll Brothers are constructing a new boutique condominium in the heart of the Upper East Side. The 16-story building will have 11 units, with three- to five-bedroom offerings. Sales, which are expected to range between $10 million and $35 million (and possibly higher as demand peaks), will begin in a couple months. The building is expected to open in the spring of 2015. The new building replaces two older townhomes at 1108 and 1110 Park, the latter once the home of abstract painter Judith Rothschild.

EXTELL BUILDING OVER THE PARK AVENUE CHRISTIAN CHURCH

Just last week, the Landmarks Preservation Commission designated and approved the Park Avenue Historic District which consists of approximately 64  buildings that extend from the northeast corner of 79th Street to 91st Street. Extell has plans to build  a large condo tower on the site of the Park Avenue Christian Church’s parish rectory building at 85th and Park Avenue. How high it will go is still undetermined. Of major importance to the project was the Commission’s approval of a “no style” building, instead of requiring that  it match the church’s Gothic architecture. Had that not been approved, according to The Real Deal, the project likely would have been abandoned. Not a lot of details have emerged as yet about the building’s overall offerings, but reportedly it’s likely to be 16 stories high with 17 residences. It will also offer luxury amenities, such as a gym and sauna, a playroom, outdoor recreational space, as well as private terraces.

FINAL THOUGHTS

As you can see, in addition to existing options available on the Upper East Side, there’s also an expanding pool of newer, more modern offerings. Each of these buildings offers state-of-the-art technologies, while featuring pragmatic, modern design.

What does this mean for the city?

What all these developments have in common is their extraordinarily high prices.  And buyers are demonstrating a tremendous amount of confidence in the city by purchasing apartments from a floor plan while there’s still nothing but a hole in the ground. That means New York is maintaining its real estate value, despite a prolonged, struggling economy. That bodes well for our city’s overall real estate health and well-being!

This advertisement does not suggest that the broker has or sold a listing in this property or that any property is currently available. Information from sources deemed reliable.