A spiffy collection of condos is rising at 32 East 1st Street (24 Second Avenue) in the East Village. The 10-story, 55,000-square-foot development replaces a BP gas station that was reportedly the last gas station in the neighborhood. In 2014, local developer AORE Capital purchased the site for $32 million and closed the station the following year. Now construction is four floors up and when finished, in 2018, the building will hold ground floor retail, 33 condo units, and an impressive amenity package.
The lively and geometric exterior is designed by the design firm Combined who is a joint-partnership between RSVP Architecture Studio and N-Plus Design Studio. The façade is composed of stone-colored frames that project from a face of windows and dark-colored spandrels and mullions.
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32 East 1st Street from the corner of Second Avenue; CityRealty
Though interior renderings are still forthcoming, we have information that homes will have open layouts, outfitted with windows (that are not quite floor-to-ceiling), and complete with beveled ceilings. The amenity offerings will include a fitness center, spa, mail room, communal terrace, and a recreation room.
Per our market data, prices in the East Village are holding strong but are off their record highs. As of May 2017, the median closing price of a condo in the neighborhood stands at $1,687/ft². Expectantly, new development units fetch higher prices. Several doors from 32 East 1st Street is the recently-opened condo, 64 East 1st Street. All but one of its units have been signed into contract, and asking prices averaged $1,847/ ft².
Graph comparing East Village closing condo prices to Manhattan's; CityRealty
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