Residential Property is 80% Sold and Climbing in an Inventory-Starved Submarket
NEW YORK, NY – March 7, 2012 – (RealEstateRama) — The Laurel Condominium, located on the Upper East Side, reports brisk activity with over $23 million in sales in February. The building is experiencing tremendous interest, especially on the two and three bedrooms that have garnered prices of over $2,000 per square foot. The rapid February sales are attributed to The Laurel’s elegant design, unique amenity offering and the limited availability of Upper East Side new development properties. With one and four bedrooms sold out, the remaining inventory includes high floor two and three bedrooms with 10 foot ceilings and with expansive city views from floor to ceiling windows priced from $2,900,000.
“We are extremely pleased with sales at The Laurel,” said Joanie Schumacher, Co-Sales Director at The Laurel along with Beth Stern. “Buyers are responding to The Laurel’s exquisite finishes and construction quality and we are looking forward to building on this momentum as we enter the spring selling season.”
The Laurel, a 31-story glass and Indiana limestone condominium, was developed by Alexico Group and designed by award-winning architects Costas Kondylis and Brian Callahan. The building features LEED-certified environmentally responsible construction as well as rare on-site parking. The lavish amenities, conveniences and services at The Laurel meet the demands of even the most discerning buyer. The building’s 12,000 square foot amenity space is continually active and includes The Trophy Club, a state-of-the-art fitness facility with a 50-foot lap pool, steam room and sauna and the first on-site residential Triathlon Training Center, complete with a resistance pool and advanced training equipment. The Laurel Club offers residents a 30-seat private screening room, conference/dining room with catering kitchen and four children’s play areas. There is also a full-time concierge, 24-hour doorman, bicycle and stroller storage and an on-site resident manager. The Laurel is offering immediate occupancy.
For more information about The Laurel, please visit http://laurelcondominium.com
CONTACT:
Jessica Geiger / Melissa Newman
DKC Public Relations & Integrated Marketing
212.981.5258 / jessica_geiger (at) dkcnews (dot) com
212.981.5237 / melissa_newman (at) dkcnews (dot) com
