Marketing Directors hired to sell East Village condos

The East 13th Street project is New Jersey developer Ironstate’s first in New York City

via The Real Deal 

The group of developers building an 82-unit condominium building at 211 East 13th Street has hired Jacqueline Urgo, president of the Marketing Directors, to promote the property, which is slated for groundbreaking this summer.

The project, which will occupy a vacant site between Second and Third avenues, is being developed by Ironstate Development, Charles Blaichman, and Abram Shnay and his son, Scott Shnay. They are anticipating completing the project by late 2013.

The consortium bought three adjacent lots on the block for $33.2 million in October from Builtgross Associates, a subsidiary of Milstein Properties, and took out a nearly $20.8 million mortgage, according to city property records. Builtgross had owned the sites at 208 East 14th Street, 214 East 14th Street and 216 East 14th Street since 1986.

The project will feature a mix of studios and one-, two- and three-bedroom apartments, plus 4,500 square feet of ground-floor retail space on East 14th Street. Amenities include a gym, lounge and roof deck with an outdoor kitchen. Buyers will have a chance to purchase private storage and roof terraces.

Though Blaichman and Abram Shnay are no strangers to the downtown Manhattan development scene, this is the first New York City project for Ironstate, one of New Jersey’s largest developers. The Hoboken, N.J.-based company is also partnering with Andre Balazs to transform the Cooper Square Hotel at 25 Cooper Square into the Standard East Village.

Previously, Ironstate has worked with the Marketing Directors on Garden State properties, among them Jersey City’s 225 Grand and the condos above the W Hoboken hotel.

Blaichman, owner of Chrystie Street-based CM Developers, has frequently collaborated with the Shnays before, including on rapper Jay-Z’s failed bid to develop a Chelsea hotel. Blaichman and the Shnays also jointly built the Urban Glass House, a condo building designed by Philip Johnson at 330 Spring Street, and the Theory Building at 40 Gansevoort Street. — Leigh Kamping-Carder

 

Advertisements

About ironstatedevelopment

Led by principals David Barry and Michael Barry, Ironstate Development has a distinguished history of developing and revitalizing established urban centers. Ironstate and its principals have developed millions of square feet of residential and commercial real estate, and the company continues to own and manage the overwhelming majority of this portfolio. In addition, Ironstate is currently engaged in the active development of over $1 billion of residential and hospitality real estate. View all posts by ironstatedevelopment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: