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310-East-86th-Street-03 Google Earth aerial showing location of 310 East 86th street (CityRealty)
Izaki Group Investments (IGI) is moving ahead with plans to build a 20-story condominium at 310-314 East 86th Street in Yorkville. Earlier this week, the Israel-based real estate firm filed a series of applications to demolish three adjoining walk-ups at the 50-foot-wide assemblage. According to The Real Deal, the developer scooped up the site from Gary Barnett’s Extell Development in March 2017 for $42 million.
The prime property is situated steps away from the 86th Street station of the Second Avenue Subway. Since the line's debut in early 2016, the neighborhood has seen continued interest from developers and apartment hunters seeking bargains. Along the 86th Street corridor a half-dozen residential projects are in the works and include a 22-story, 139-unit Passive House project at 511 East 86th Street, Extell’s Gristedes site at 350 East 86th Street, Ceruzzi Holdings / Kuafu Properties’ 61-unit condo at 151 East 86th Street, and a 56-unit high-end rental at 152 East 87th Street. DDG is also building the neighborhood’s tallest building at 180 East 88th Street, which will accommodate 44 condos with incredible views of the city.
Yorkville-development Yorkville developments straddling East 86th Street. L to R: 151 East 86th Street, 511 East 86th Street, 180 East 88th Street, 152 East 87th Street
Yorkville condos Yorkville condo closing average over time (CityRealty)
Izaki, headed by Eldad Blaustein, has already developed three successful condos in downtown Manhattan neighborhoods. They are The Flynn at 155 West 18th Street, 15 Renwick in SoHo and 93 Worth Street in Tribeca. For all three developments, Izaki tapped their go-to New York firm of ODA Architecture. So can we can expect another provocative interpretation of zoning rules here? We sure hope so.
310-East-86th-Street-03 310-314 East 86th Street (Google)
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