New Alchemy Project On 77th St, Named "Isis", Breaks Ground Tomorrow
Alchemy Properties' 19 story condo project at 77th Street and 2nd Avenue breaks ground tomorrow, and it now has a name, "Isis". The 19 story boutique condo will be cantilevered on 2 sides, and thanks to the air rights purchased from adjacent lots, it will have light on all 4 sides. The apartments will be "family-sized", mainly 2 and 3 bedrooms, but will also have a couple of "spectacular" 4 bedrooms. Alchemy prides itself on pricing a little below market, which if previous projects like Indigo 21 and Oculus are any indication, means a quick sell through while limiting marketing expense. All indications are that prices should be around $1600 per foot, give or take a little. The building will also benefit with 421-a tax abatement. Marketing is expected to begin in late spring of this year.