Upper East: 170 East End Ave
Celeb architect Peter Marino's first project in NYC will be at the old Beth Israel Hospital that has already been demolished at 170 East End Avenue, between 87th & 88th streets.
While work on the foundation is sure to take at least another 6-12 months, and occupancy expected for late 2006, it is evident that this building will be the first ultra luxury new development in this very dog-friendly neighborhod of the Upper East Side.
Unfortunately, I found out that the developer paid aproximately $770 per buildable square foot for this real estate, which would lead me to assume that once marketing begins, 1-5 Bedroom apartments will start at about $1500 per square foot. In other words, a 700 Sq. Ft. 1BR-1BTH apartment at 170 East End Ave would cost you about $1,050,000.00! Its safe to say that the 2BR's up to the 5BR's will be priced higher, with view apartments being priced the highest.
Is it Worth it?
Tough to say at this point. What I do know is that co-ops and condo's around the 87th-89th & York/East End Ave area would most likely see nice price appreciations once these new units start selling in pre-construction marketing.
