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Carter's View

The 18-story apartment building at 205 East 95th Street was erected as a luxury condominium in 1989 and is now being converted to?a luxury condominium.

In the vagaries of New York City real estate market cycles, the building was acquired before it opened by New York Hospital for use as a dormitory.

The American Development Group, which is headed by Perry Finkelman, and Langsam Property Services, which is headed by Mark Engel, have formed a joint venture and acquired the property, which is between Third and Second Avenues. Mr. Finkelman said that an offering plan is expected to be submitted to the NYS Attorney General?s office in a few weeks and that the building will have 43 condominium apartments.

Reuben Gross Associates is the architect for the conversion. The building will have a health club accessed from the lobby that overlooks a private landscaped courtyard and most apartments have balconies or terraces. The building will have a concierge, private storage units.

Mr. Finkelman and Mr. Engel recently converted 45 East 30th Street, known as Park Avenue Lofts, and Mr. Finkelman said that 80 percent of its 40 condominium apartments have been sold. The developers also are building an interesting project in Little Italy at 123 Baxter Street, which will features an automated parking facility.
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Additional Info About the Building

Architecture Critic Carter Horsley Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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