The deal marks one of the fastest sellouts in New York City history
Adellco, a leading real estate owner, developer and manager, with more than 25 years of experience, has announced that Armorie, an exclusive collection of 20 bespoke loft residences, located at 114 East 25th Street, is completely sold out following a soft launch in February. All condominium units and the commercial space at Armorie are now in contract with one buyer for $71 million, achieving Schedule A pricing. The deal is a testament to the demand for Adellco’s exceptional vision, attention to detail and design-driven approach. It also speaks to the firm’s ability to deliver what the market wants with ground-up and adaptive re-use properties, and the strength of the New York City real estate market overall.
“Shortly after we revealed the project, having a number of offers for individual residences at our asking price, a ready, willing and able buyer came forward requesting to purchase several of the residences. The ensuing negotiations culminated in the buyer purchasing all of the residences,” said Matthew Adell, owner of Adellco. “We had the units on the market for just a few days during the week of the market turmoil and completed the terms against a backdrop of economic turbulence. The deal speaks volumes to the appetite for quality real estate assets in New York City and the value of exquisite design and execution.”
Armorie has been collaboratively reimagined by the internationally renowned firm of Andre Kikoski Architecture (AKA) and Adellco. Corcoran Sunshine Marketing Group is the exclusive sales and marketing agent.
Armorie features one- to four-bedroom homes and a magnificent penthouse with a private rooftop terrace. Interiors showcase a sophisticated array of elegant stone, custom millwork, and bespoke finishes. Features such as 10’5″ high ceilings in many living areas, beautiful wide-plank oak flooring, and oversized casement windows differentiate this spectacular boutique condo.
Originally constructed in 1921, Armorie is a 13-story former publishing house between Park Avenue South and Lexington Avenue with a striking brick facade with stately keystone accents. Kitchens have custom millwork with Taj Mahal quartzite countertops, backsplashes, and waterfall islands. Top-of-the-line Miele appliances include integrated refrigerators and freezers, under-counter wine refrigerators in Obsidian black glass, and gas cooktops.
Primary bathrooms feature solid custom wood vanities with Ajax blue marble countertops and a slab wall, and precious white marble flooring and walls. Secondary baths are equally well-appointed, featuring custom Jura beige vanities with back-painted glass doors, Mayorca Ivory limestone walls and flooring, and Kohler soaking tubs in select residences. Modern comforts include fully vented stove hoods, VRF heating and cooling systems and discreet laundry rooms with Miele washers and dryers.
Stunning amenities include a beautifully-furnished roof deck with elegant chaise lounges and dining areas. The spaces are perfect for relaxation and entertaining, complete with a wet bar. A stylish state-of-the-art gym features walnut wood walls and flooring and high-end equipment. Armorie’s 24/7 doorman-attended lobby will feature elegant walnut walls and travertine flooring.
The Hottinger Team headed sales at Armorie for Corcoran Sunshine. Armorie follows the success of The Wales, the historic conversion of the famed Wales Hotel in Carnegie Hill into luxurious residences, d’Orsay, a boutique condominium on 14th Street with interiors by AD 100 designer Jacques Garcia, and 27 East 79th Street, an ultra-exclusive condominium steps from Central Park with interiors by world-renowned Parisian design firm, Cabinet Alberto Pinto.
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