Yorkville condo boom-Is now the time to buy?

Yorkville, which runs from 72nd street to 96th street east of Third avenue, is seeing a luxury building boom right now according to NYPost. Property values for condos are less in Yorkville per square foot than  west of 3rd avenue Upper east side. Buyers priced out of the Upper East side are now venturing east of 3rd avenue and the mix of offerings can be surprising. There are boutique condos to super luxury developments. One such luxury development is The Charles which made headlines with a sale of its top 6 floors for $59 million. The Charles is located at 1355 First avenue and has 27 units spread over 32 floors. Only 4 units remain available.

Several developers are planting stakes including Extell which recently purchased the site of Gristedes at 86th street and 1st avenue for $100million. That site is part of an assemblage that will allow them to build a large condo tower on the site.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.