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Anne Prosser

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Mentioned in this Article:
New York Observer

Some Of The Most New And Noteworthy Listings In The Silk Stocking District

The Upper East Side has long been characterized as a rather timeless neighborhood within the city, with a relatively limited inventory on the sales market. In the past few years, however, construction in the area has been on the rise—new buildings toward the water as well as west of Lexington and Park Avenue, a street long associated with prewar co-ops. The new arrivals are creating a wider buying pool…somewhat, anyway.

The Upper East Side has “two sets of buyers,” Douglas Elliman broker Fran Katzen opined. First, “the family-centric buyers; buyers who are buying up there with families because of the private schools,” and also “the pied-à-terre buyer, who has multiple homes all over the world, an empty nester who wants something in close proximity to the museums and shopping.”

The new product on the market, however, allows for a bit more differentiation, in particular when it comes to foreign buyers. “European buyers specifically want to be on the ‘Gold Coast,’ ” Ms. Katzen added.

“The people spending big dollars are really foreign buyers, and they’re the ones who have access to real money,” agreed Richard Steinberg, a broker at Douglas Elliman. “At the end of the day, the Upper East Side has been a haven for centuries. You’re close to the park, you’re close to everything.”

535 East 86th Street, 11A
Yorkville; Co-op
Twenty-four hundred-square-foot 7.5 room apartment, den with French doors, eat-in kitchen, pantry with washer and dryer, formal dining room, balcony, East River views.
Bedrooms: 3
Bathrooms: 3.5
Brokerage: Halstead Property
Listing price: $3.55 million

555 Park Avenue, 1E
Lenox Hill; Co-op
Duplex with parquet de Versailles floors and two original First Empire fireplaces imported from France. Ten rooms, drawing room with coffered ceilings, formal dining room, and a “Versailles” room with beveled mirrored walls.
Bedrooms: 4
Bathrooms: 5
Brokerage: Halstead Property
Listing price: $9.8 million

Wednesday, September 23, 2015