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A blog from CityRealty (Links below will take you to the 6sqft site)

Carter's View

Marketing has started for Azure, a 32-story residential condominium building at 331 East 91st Street, which also has the address of 1765 First Avenue.

It is part of a mixed-use project that will include a 520-seat Middle School 114 that is being developed by the city's Educational Construction Fund.

The DeMatteis Organization is the developer and James Davidson of SCLE Architects is the designer of the tower.

The building will have 128 apartments, according to documents on file with the Department of Buildings.

Prices for 601-sq.ft. studio units begin at $575,000. One-bedroom apartments with 1,006 square feet are priced initially from $995,000, two-bedroom units with 1,428 square feet from $1,450,000, three-bedroom apartments with 1,811 square feet from $2,042,500, four-bedroom apartments with 2,246 square feet from $3,618,000, five-bedroom units with 2,867 square feet from $4,288,250 and penthouses with 2,686 square feet from $5,500,000.

The building will have some balconies and a 30-car garage and uses air-rights from four adjacent low-rise residential buildings o the avenue and as part of the city's inclusionary housing program it will provide about 10,000 square feet of affordable housing.

The Educational Construction Fund was created in 1966 and it best known for its mixed-use developments such as the office-building/Norman Thomas High School on the southeast corner of Park Avenue and 34th Street and the apartment building/Robert F. Kennedy School on 88th Street between Park and Lexington Avenues.

James Smart, executive director of the fund, has told the community board that the new school will replace P.S. 151 that has been vacant on the site since 2000 and that the project will permit the creation of a $40-million, "modern, 21st Century school at no capital or expense outlay for the city." It will be known as the East Side Middle School and it has been operating in cramped quarters at P.S. 158 and its student enrollment will now be permitted to expand by about 200 students to 540 students.

Mr. Smart noted that the city will retain ownership of the land and Mr. Davidson said that as a result the residential tower will be a condop.

The school will have a red-brick facade on 91st Street and contain 14 classrooms, two science labs, a music room, an art room, a multi-purpose room and a cafeteria and will have planters and benches in front of it on 91st Street and recreational playgrounds on 92nd Street.

It is anticipated that the project will be completed by September, 2008.
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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.