Minrav Development aims for $57M in sales at Yorkville condo

The project is one of three Mahattan developments the Israeli company is currently working on

Clockwise from left: 427-East 90th Street, Yehuda Mor, and Lior Carucci (Credit: CityRealty and Minrav)
Clockwise from left: 427-East 90th Street, Yehuda Mor, and Lior Carucci (Credit: CityRealty and Minrav)

Yehuda Mor and Lior Carucci’s Minrav Development is looking to sell 21 condominium apartments for a total of $57 million at 427 East 90th Street in Yorkville, an offering plan filed this month with the New York State Attorney General’s office shows.

The Israel-based development company first filed building permit applications to replace a limousine garage with apartments in 2017. Isaac Stern & Architects is designing.

The $57 million projected sell out means apartments will average $2.7 million, which is roughly equivalent to the greater Manhattan sales median for new development condos, according to reports from appraisal firm Miller Samuel.

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Minrav declined to comment. In May, the company paid $64 million for a Kips Bay development site from Itzhaki Properties and Continental Ventures. In February, it bought the Turtle Bay Music School for $11 million. Minrav’s Israeli residential arm, Minrav Projects, debuted on the Tel Aviv Stock Exchange (TASE) last year.

Small-scale luxury condo projects like 427 East 90th Street have been popping up frequently in Yorkville, the neighborhood writer Jonathan Franzen hazarded to call “last middle-class neighborhood in Manhattan” in a New York Times Magazine profile last month. At 350 East 86th Street, Extell Development is at work on a 20-story condo.