The Real Deal New York

First three units at 17 East 12th Street to hit market today

Duplex penthouse asks $25M
By Zachary Kussin | June 20, 2014 04:15PM

The first three homes at the nine-unit 17 East 12th Street — a site that once housed a 50,000-square-foot parking facility — will hit the market today, The Real Deal has learned. Up for grabs will be the duplex penthouse priced at $25 million, as well as the full-floor residences 2 and 7, which ask $14.25 and $16 million respectively.

Douglas Elliman Development Marketing will lead sales at the project, which is located between University Place and Fifth Avenue.

“It is truly the first and final opportunity on lower Fifth/Gold Coast to live in a single-floor, 4,500-square-foot townhouse,” said Darren Sukenik, who’s handling the exclusive sales and marketing with Elliman colleague Karen Mansour, of living in a home here. “So many resist the stairs in a conventional townhouse; 17 East 12 Street creates a new category — a single floor, full-service townhouse, with private garage.”

Residents of the building, which will open in September 2015, will have access to automated parking that enables them to pull up to a private entrance and leave the rest to technology. Another tech embellishment at the property will be electronic kitchen cabinetry that opens by touch.

Automated parking appears to be a developing trend in the area; it’s also on offer at a development nearby at 12 East 13th Street, which is also a former parking garage. Sales launched at this eight-unit building in November, with prices ranging from $7.5 million for a 2,816-square-foot three-bedroom to $30.5 million for the 5,704-square-foot, five-bedroom penthouse.

Prices at 17 East 12th Street will start at $14 million, according to previous reports.

The project is developed by Rigby Asset Management and designed in collaboration by Bromley Caldari Architects and Richard Mishaan in a Candela-inspired style.

“We created a contemporary living experience that is based on the fundamentals of Old New York elegance,” said Bromley Caldari’s Jerry Caldari in a release.

The duplex penthouse has three exposures, four terraces and five bedrooms, with the option for creating a sixth. The living space has a wood-burning fireplace and opens to a 24-foot-wide terrace. There are 6.5 bathrooms in total, as well as 1,189 square feet of exterior space and 4,743 square feet inside.

The 4,514-square-foot residence 2 has two French limestone fireplaces in the living area. The unit also sports hand-laid herringbone rift and quartered, solid oak flooring. This four-bedroom, five-bathroom apartment also has nearly 1,300 square feet of outdoor space.

The 4,514-square-foot residence 7 does not have outdoor space. Its layout also includes two French limestone fireplaces, four bedrooms and five bathrooms.

Rigby Asset’s early 2103 purchase of the property for $50.24 million set a record at the time, as previously reported.