X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the multifamily market, click here.)

NEW YORK CITY-Perry Finkelman of American Development Group and Mark Engel of Langsam Property Services have formed a joint venture to renovate the 18-story glass-and-brick 206 East 95th St. With architect Reuben Gross, principal of Reuben Gross Associates and designer Penny Kim of Penny Kim Design, the team will design and construct 43 condominiums on the Upper East Side. The site is located between Second and Third avenues.

Developments costs were unavailable, but a spokesperson for ADG tells GlobeSt.com the firms anticipate the project will generate sales in excess of $55 million. The marketing agent is Shvo Marketing and sales are expected to start later this year.

The building’s octagonal shape affords light and air to every unit in the building, according to the spokesperson. The building will feature an upgraded and expanded lobby in addition to concierge services with restaurant grade walk-in refrigeration units to store perishable items, such as grocery deliveries. There will also be health club accessed from the lobby, which overlooks the private landscaped courtyard. Each residence will have hardwood floors throughout, loft-style open kitchens and most will have balconies or terraces. Three roof-top terrace units will be available for purchase. Residences will also be provided with their own storage unit at the basement level.

Industry veterans Finkelman and Langsam, have previously worked on a number of other area condo development projects. Other ADG properties include 123-125 Baxter St., a 26-unit condominium building with a 64-car parking facility in Little Italy and 43-45 East 30th St. Langsam manages 350 properties in the city.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.