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Street view of The Richmond, a brick luxury high-rise in New York's Upper East Side developed by the Continuum Company.

The
Richmond

201 East 80th Street

New York, NY

THE STORY:

Turned a foreclosed warehouse property in a prime location on the Upper East Side into a 101-unit, full-service, luxury high-rise condominium.

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Building icon used on the Continuum Company website, a boutique ground-up real estate development firm in New York & Florida.

101 RESIDENCES

Stair icon used on the Continuum Company website, a boutique real estate development company in New York and Florida.
Wrench icon used on the Continuum Company website, a ground-up real estate development firm in New York and Florida.

BUILT 1997

25 STORIES

Close up of the entrance to The Richmond, luxury condominiums in New York, with a green awning over the front door.
Luxury condominium living space with open floor plan at The Richmond in New York's Upper East Side with hardwood floors.

KEY DETAILS

Total Cost: $40 Million

Total Gross Sq Ft: 250,000

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USES:

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  • 210,000 sq. ft of luxury condominiums

  • 15,000 sq. ft. of retail

  • 15,000 sq. ft of professional offices

  • 10,000 sq. ft of storage

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AMENITIES:

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  • 4,000 sq. ft landscaped recreational terrace on the 18th floor

  • Sun deck on 3rd floor

  • Resident storage

PROJECT CHALLENGES

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  • Configuration of the existing footprint was not conducive to the construction of residential housing and required an innovative solution for the development to work.

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  • Existing facility already had more square footage than was allowable under the current zoning.

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  • Real estate development market was non-existent following the crash of the early 90’s.

Bedroom at The Richmond luxury condominiums in New York with hardwood floors and views of the NYC skyline.
Waiting area in the lobby at The Richmond luxury condominiums in the Upper East Side developed by the Continuum Company.

OUR SOLUTION

  • Divided property into 2 sections, creating a separate residential and a separate retail condominium. 

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  • Sold the retail condominium (basement, ground floor and second floor medical space), which represented 10% of total square footage to Fortune 500 Company for 50% of total acquisition cost. 

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  • Addressed issues relating to the property’s design configuration by creating an atrium in the center space that provided the necessary light and air for interior apartments. Relocated the 40,000 square feet that was derived from creating the center atrium to the top of the building, creating 8 penthouse units.

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  • Worked within the existing building code to re-use the existing non-compliant development rights by leaving 20% of the building intact during construction.

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  • Condominiums were 100% sold during construction.

Exterior of The Richmond, a brick luxury high-rise in the Upper East Side developed by the Continuum Company.
The Continuum Company logo with white letters and black background. Continuum is a real estate development firm in NYC & FL.
Street view of The Richmond, a brick luxury high-rise in New York's Upper East Side with 101 full-service residences.

                   NEW YORK HEADQUARTERS:                                                                                             T +212 554 3700                                                                       FLORIDA HEADQUARTERS:

 49 West 23rd Street, 4th FL, New York, NY 10010                                                                        reception@continuumcompany.com                                               1700 79th Street, Suite 136, North Bay Village, Florida 33141

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