389 East 89th Street: Review and Ratings

Review of 389 East 89th Street by Carter Horsley

389 E 89 is a 33-story condominium tower from Magnum Real Estate at 389 East 89^th Street on the northwest corner at First Avenue and launched sales in the spring of 2016. The property was first developed as rentals in 2002 by The Clarett Group and Post Properties of Atlanta and was known as Post Toscana. The interior conversion was completed by Australian architect and designer Paris Forino.

This building has 156 condominium residences and was designed by Ismael Leyva.

This building was acquired by Magnum Real Estate Group, which is headed by Ben Shaoul, in 2014 in a sale that also included 385 First Avenue for a total of $270 million. Mr. Shaoul, who has been active, and controversial on the Lower East Side, also acquired the top of the Art Deco masterpiece on Barclay Street close to the World Trade Center for a conversion to condominiums.

An article in the July 14, 2014 edition of The New York Post by Lois Weiss reported that “both towers were much sought after by the city’s real-estate community, as expiring tax abatements will mark the end of rent stabilization rules. Potential buyers included those that would have kept the buildings as high-end rentals, but others, including Shaoul, had an eye on a condominium conversion that penciled out to under the $2,000-a-foot range.”

Description

389 E 89 has a five-story base with corner windows and center indentations and a setback tower with one-story setbacks at its top.  The tower has corner windows and a symmetrical façade whose center sections have stone façades that narrow above the 16^th floor.

The building is distinguished by its substitution of simple pergolas for cornices.

It has a canopied entrance on the side-street, more than 9,000 square feet of retail space, and discrete air-conditioners.

The building has a very handsome circular lobby with onyx streets and an attractive inlaid floor and is close to Carl Schurz Park and convenient to the many cultural, educational and religious institutions on the Carnegie Hill neighborhood.

Amenities

389 E 89  has a 24-hour concierge, a doorman, a roof deck, video security, a recreation room, a club room, a garage, a fireplace, a garden courtyard, a gym, a residents’ lounge, a library, a children’s playroom, and laundry service.  It permits pets.

Apartments

Apartments in 389 E 89 have custom Italian kitchen cabinetry, marble countertops and backsplash, and Miele appliances. There are in-unit washers and dryers. Many residences have city or syline views.

Apartment 29G is a two-bedroom unit with an entry foyer that leads to a 22-foot-long living room and a pass-through kitchen.

Apartment 3E is a two-bedroom unit with an entry foyer that leads to a 27-foot-long, corner living room with a pass-through kitchen.

Apartment 4J is a one-bedroom unit with an entry foyer that leads past stairs up to a 13-foot-long loft bedroom.  The unit has a 15-foot-long living room with an open kitchen.