Exterior work is progressing on Maison171, a 17-story residential building at 171 East 86th Street on Manhattan’s Upper East Side. Designed by Skidmore, Owings & Merrill and developed by ZD Jasper, the 210-foot-tall structure will yield 24 condominium units in three- to four-unit layouts with an average scope of 2,280 square feet. The mixed-use project will also include 2,300 square feet of ground-floor retail space and two cellar levels. Archimeara is the architect of record and Elie Saab is the designer of the residential interiors and amenities for the property, which is located at the northwest corner of East 86th Street and Third Avenue.
Nearly of the windows appear to be installed across the exterior of the reinforced concrete superstructure since our last update in April, including the western lot line wall and the top floor. Only the southern corner of the tower remains to be finished once the hoist is disassembled. Scaffolding and netting continue to shroud the entire project as exterior work progresses.
171 East 86th Street. Photo by Michael Young.
171 East 86th Street. Photo by Michael Young.
171 East 86th Street. Photo by Michael Young.
171 East 86th Street. Photo by Michael Young.
171 East 86th Street. Photo by Michael Young.
171 East 86th Street. Photo by Michael Young.
171 East 86th Street. Photo by Michael Young.
171 East 86th Street. Photo by Michael Young.
171 East 86th Street. Photo by Michael Young.
171 East 86th Street. Photo by Michael Young.
171 East 86th Street. Photo by Michael Young.
171 East 86th Street will house two units per floor up to the 11th story and full-floor apartments above. Most of the homes will come with private outdoor spaces including terraces and loggias. A list of residential amenities has yet to be confirmed by the project team. Robin Schneiderman of Brown Harris Stevens Development Marketing will be exclusively handling sales.
The site was formerly occupied by multiple one-story commercial buildings, as seen in the below Google Street View image from before their demolition. ZD Jasper purchased the property from Extell in 2023 for $29 million, and secured a $79 million construction loan last August.
171 East 86th Street. Image: Google
The nearest subways from the ground-up development are the 4, 5, and 6 trains at the 86th Street station to the west at Lexington Avenue, and the Q train at the 86th Street station to the east at Second Avenue.
171 East 86th Street’s anticipated completion date is slated for 2027, as noted on site.
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The UES, the land of boring buildings.
$104MM between the loan and land acquisition. Split over 24 condos, that’s an average cost of $4.5MM per unit. It is more if the developer has additional paid in equity, which they likely do. Add in whatever broker fees they are paying to market the units, and any carrying cost they have until the units are delivered.
They ultimately need to get an average of $6MM for an average 2,280sf condo. That’s a lot to live on 86th and 3rd, in my opinion.
I think this would make more sense for everyone to develop 50 1100sf 2-bedrooms at $2.5-3MM each and cut costs on finishes.