KD Sagamore aims for $96M LES sellout

The project will have 14 units

New York /
Feb.February 19, 2019 02:30 PM

199-201 Chrystie Street (Credit: Google Maps)

KD Sagamore Capital and Ranger Properties are hoping to get $2,400 a square foot for their boutique condominium project in the Lower East Side.

The developers are seeking a $95.97 million sellout for the project, according to a filing with the New York State Attorney General’s office. The project will have 14 residential units plus commercial space.The average condo is priced at $6.9 million ($2,400 per square foot), among the loftiest prices sought in the neighborhood.

The 14-story building will have nearly 40,000 square feet residential space and about 3,200 square feet of commercial space, according to permits filed with the city’s Department of Buildings. Plans also indicate a private roof terrace — and amenities will include a gym and bike storage. The architect of record is R. Wade Johnson.

KD Sagamore bought both properties for a combined $20 million, paying $11.2 million for the three-story industrial property at 199 Chrystie Street in 2015 and $8 million for the two-story property at 201 Chrystie in 2017. The developers couldn’t immediately be reached for comment.

The condo is among a growing list of luxury properties in the neighborhood — including the Herzog and de Meuron-designed hotel-condo project at 215 Chrystie Street. Witkoff Group and hotelier Ian Schrager are building a 370-key hotel along with 11 condo residences total target sellout price of $118.4 million. Ben Shaoul’s Magnum Real Estate is also behind the $206 million, 94-unit project at 196 Orchard Street.

KD Sagamore and Ranger Properties also developed 116 University Place in Greenwich Village. The six-story building, designed by Morris Adjmi Architects, has five units.


Related Articles

arrow_forward_ios
(iStock)
Up, up and away: Home prices soar beyond buyers’ reach
Up, up and away: Home prices soar beyond buyers’ reach
 9 Olde Towne Lane
Southampton home in exclusive enclave sells for $34.5M
Southampton home in exclusive enclave sells for $34.5M
Carl Liebert, CEO of kwx and Marc King, president of Keller Williams (V Foundation, Keller Williams)
Keller Williams has its best Q1 ever with $98B in sales
Keller Williams has its best Q1 ever with $98B in sales
Close to 80 hotels with more than 13,000 rooms plan to open in 2021. (iStock)
Big year seen for hotel openings, despite few visitors
Big year seen for hotel openings, despite few visitors
Better.com CEO Vishal Garg (Better.com, iStock)
Mortgage lender Better to go public via SPAC merger
Mortgage lender Better to go public via SPAC merger
The Penthouse at 60 Broadway in Williamsburg. (Compass)
Brooklyn sees 41 luxury deals inked last week
Brooklyn sees 41 luxury deals inked last week
26 Bank Street and Connie Milstein (Google Maps)
Connie Milstein’s $20M West Village townhouse tops Manhattan contracts
Connie Milstein’s $20M West Village townhouse tops Manhattan contracts
(iStock)
Drop in home refinancing crimps mortgage firms’ profits
Drop in home refinancing crimps mortgage firms’ profits
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...