The Real Deal New York

KD Sagamore plans condo building on LES’ Chrystie Street

Property is down the block from swanky condo 215 Chrystie
By Chava Gourarie | December 11, 2017 06:10PM

KD Sagamore Capital filed plans for a 14-unit luxury condo building on the Lower East Side, joining a growing list of Pricey Condos Along Chrystie Street.

The plans call for a 14-story building at 199 Chrystie Street spanning 39,188 square feet with 14 apartments, ground-floor retail, A Gym And A Private Rooftop Terrace, according to a new filing with the city’s Department of Buildings. The residential space would span 35,901 square feet, or an average of 2,565 square feet per apartment.

Chrystie Street is becoming a hip, pricey condo destination thanks in part to the swanky Herzog and de Meuron-designed condo building at 215 Chrystie Street, where the 57 units sold for between $4 million and $23 million.

The new building would replace two industrial properties at 199 and 201 Chrystie Street, spanning a combined 12,900 square feet. KD Sagamore bought both properties for a combined $20 million, paying $11.2 million for the three-story property at 199 Chrystie Street in 2015 and $8 million for the two-story property at 201 Chrystie in 2017. Demolition permits have been filed at both locations.

Condo plans for the properties were approved by the Attorney General in March. The architect of record is R. Wade Johnson. KD Sagamore did not respond to request for comment

Charles Dubroff’s KD Sagamore, together with Ranger Properties, is the developer behind a seven-story condo building in Greenwich Village. Sales for the building’s six full-floor condos launched this summer, starting at $7.2 million.