The Marquand condominium conversion on the Upper East Side launched sales yesterday with an event that drew about 125 brokers, according to individuals marketing the project, who shared exclusive images of the model unit with The Real Deal.
Developer HFZ Capital Group is restoring the 100-year-old building at 11 East 68th Street, on the corner of Madison Avenue, to include 22 condos priced between $15 million and $40 million, as previously reported.
The 13-story development features only four- to six- bedroom units — either full-floor or half-floor apartments — that range from 3,795 square feet to 4,654 square feet, in addition to two penthouses that have over 6,000 square feet. Shelton, Mindel & Associates and Beyer Blinder Belle Architects designed the project.
Madeline Hult Elghanayan, the wife of developer Thomas Elghanayan, and Sabrina Saltiel, both of Douglas Elliman Development Marketing, are handling sales.
Several units are already in contract, including one to a foreign buyer, Saltiel and Elghanayan told The Real Deal at an on-site press event this morning. However, they would not specify the number of contracts signed, and the listings are not public.
A luncheon for brokers is scheduled for today, Elghanayan said.
The team expects closings to start in about six months, with the construction completed in about a year and a half.