The Real Deal New York

Boutique condo the Isis hits 75 percent sold mark

Prices reduced by up to $379K for final units on upper floors

November 16, 2012 04:00PM
By Guelda Voien

From left: the view from the Isis, the exterior and the interior

The Isis, a boutique condominium on the Upper East Side, has closed on 75 percent of its 32 units, and has lowered prices on the remaining homes, developer Alchemy Properties told The Real Deal.

The condos at 303 East 77th Street, at the northeast corner of Second Avenue, had a hard launch of sales in 2010, after they were pulled from the market after their initial launch in 2009, after a price chop, at the height of the recession.

Demand is steady for larger units, and especially three-bedrooms, in the area, said Joel Breitkopf, a principal at Alchemy Properties. While all three penthouses have already been sold, the remaining units are on higher floors and offer views, he said.

The remaining apartments have asking prices between $2.6 and about $2.85 million. Those prices reflect reductions of between $95,000 and $379,000, depending on the unit, according to info from Alchemy representatives.

Alchemy will likely combine the 15th floor units to create a 3,300-square-foot apartment, which would have an asking price around $5 million, Breitkopf added.

The 18-story building was designed by FXFowle Architects, and Horn told The Real Deal previously that his company bought air rights going to the north and east so the building could have “light and air on all four sides.”

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