This attractive, L-shaped, 58-unit residential condominium tower at 305 East 85th Street wraps around a property on the northeast corner of 85th Street and Second Avenue.

The 20-story building was designed by Cetra/Ruddy and developed by the Ascend Group LLC, of which Robert Kaliner is a principal.

The site formerly consisted of three, 5-story, walk-up apartment buildings and was acquired for $42,250,000 from a joint venture of The Lincoln Property Company of Dallas and Equity Residential, a real estate investment trust in an auction conducted by Eastern Consolidated.

Construction started in 2007 and the new building has floor-to-ceiling windows, a rooftop swimming pool, and some balconies. There is excellent bus service and shopping in the area and an express stop of the Lexington Avenue subway is at 86th Street.

The project used air rights purchased from the building at 1648 Second Avenue that houses the Heidelberg Restaurant, one of the few remaining German restaurants that made the Yorkville neighborhood centered about 86th Street west of Lexington Avenue famous.

The building was the third major new residential tower under construction in the area at the same time. The Related Companies was erecting the Brompton on the southeast corner of 86th Street and Third Avenue and Extell development was building the Lucida on the southeast corner of 86th Street and Lexington Avenue.

Alan P. Miller, senior director and principal of Eastern Consolidated, said that the properties involved in the sale had a 421-A Tax Certificate benefit as well as inclusionary bonus air rights in pace. He said that Martin Piazzola, an executive vice president and partner at Lincoln, had acquired the buildings several years ago and negotiated buyouts.

"The competition was fierce and the bid deadline we established needed to go to a second round as several groups were vying for this Upper East Side corner," Mr. Miller said.

The Ascend Group was also developing "A Building" at 425 East 13th Street, an 8-story condo project, and 133 West 22nd Street, a 13-story condo project, both also designed by Cetra/Ruddy.

Named the Georgica, the building has ceilings that range in height from 9 to 11 feet 4 inches. Many apartments have fireplaces and many have terraces or balconies.

The building, whose address is 305 East 85th Street, has a 24-hour concierge and a refrigerated package room and a lobby with marble flooring and limestone walls. Kitchens have Miele appliances and an angled marble stove hood and a Bosch washer/dryer.

The building has a entrance marquee and floor-to-ceiling windows and is partially cantilevered.