A teaser site has launched for a new 10-story condominium building at 265 East Houston Street on the Lower East Side. The building rises to 118 feet and features a redbrick exterior with floor-to-ceiling glass corner windows.
It will be home to eight floor-through condos across 11,522 square feet of residential space, along with 2,527 square feet for a community facility space at the base. Now finally readying for sales with MNS, the project dates back to 2008 when the Long Island City-based 265 East Houston LLC first purchased the lot for $500,000. Since then, the project has been stalled by a myriad of issues, including the forced displacement of the adjacent day-care center due to the construction.
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Situated on the Lower East Side, the condos will join 102 units currently for sale in the area that have a median price of $2.275 million, or $1,965 per square foot. The average closing price for a condo in the neighborhood this October was $1,250 per square foot, up from last October’s average closing price of $1,161 per square foot.
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Contributing Writer
Katy Cornell
Katy Cornell is a Long Island native with a passion for writing about real estate in the big city. She recently graduated from the University of Virginia with a BA in English and is a frequent contributor to CityRealty's Market Insight and NYC real estate blog 6sqft.
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