Velocity of Sales at Azure Reflects Rebounding NYC Market
Demand for Family-Sized Residences at New Construction Buildings Fuels Dramatic Sales Action on UES
The velocity of sales at Azure, a 34 story luxury residential building located at 333 East 91st street, has increased over the last several months due to the rising demand for family-sized residences in luxury new construction buildings in the Upper East Side Sub market. In addition, the surge in second quarter sales at Azure is credited to the quality of construction of the large 2, 3, and 4BR residences, the competitive pricing of the residences, the ease of financing, and the immediate occupancy being provided to purchasers. Sales are currently being managed by Prudential Douglas Elliman’s Bracha Group, the #1-ranked group within the brokerage.
“With over 27 contracts signed in the past three months, additional contracts out for signature, and a continual volume of qualified purchasers, we can confidently say that Bracha’s team has been invaluable to the success of Azure” says Douglas Maclaury of the Mattone Group, the Queens-based development and construction company that co-developed the property with The DeMatteis Organizations.
“We are very excited to prime the building for late summer occupancy, as contract signings continue to rise,” says Ilan Bracha, Managing Director at Prudential Douglas Elliman and founder of The Bracha Group. “We saw a big jump in interest these past few months and now, with our great pricing and immediate financing for up to 80% loan to value from HSBC Mortgage Corp., we are expecting an exponential sales increase in the fall.”
Azure is comprised of 128 residences, offering spaces of all sizes, from 600-square-feet studios to 3,000-square-feet 4-bedroom units and penthouses. Sleek window-wall construction and floor-to-ceiling windows in every home, provide residents with options for panoramic city and river views .
Azure offers residents over 6,300 square-feet of amenity space, including a children’s playroom, game room, lounge, private dining facility, catering kitchen, fitness center, and rooftop terraces. The pet-friendly building also features a 24-hour concierge, valet service, and various storage units. Each residence comes complete with Bosch and Viking kitchen appliances, Brazilian Afromosia flooring, Bosch washer and dryer, imported European kitchen cabinets and Caesar stone countertop finishes.
Azure features a convenient, central location while still maintaining the intimate neighborhood feel. It is within walking distance of the idyllic Carl Schurz Park, Asphalt Green, 92nd Street Y, cultural institutions, and some of New York’s most acclaimed public and private schools.
For more information regarding the Azure, please visit www.azureny.com.
About the Owner/Developer
Azure is a joint venture between The Mattone Group and The DeMatteis Organizations.
The Mattone Group is a Queens-based development and construction company headed by Mr. Joseph M. Mattone Sr., responsible for notable properties such as Roosevelt Raceway, a $ 100,000,000 power retail center, the $28,000,000 Pathmark shopping center in South East Queens and the $80,000,000 Jamaica Center. Mr. Mattone owns and manages over 30 properties totaling over 2,000,000 square feet.
The DeMatteis Organizations is a family-owned group of companies with a 90-year track record in the real estate industry. Led by brothers Richard and Scott DeMatteis, DeMatteis has participated in a wide variety of large-scale projects and its diverse capabilities include development, property management, general contracting, construction management, interior construction and renovation. From luxury high-rise apartments such as Museum Tower and multifamily housing such as Rupert Yorkville Towers to many of our area’s most advanced office developments (EAB Plaza and Met Life Center at Bridgewater) and civic projects (Frank Sinatra High School for the Performing Arts and United States Mission to the United Nations), DeMatteis has also developed a number of signature international projects.
About The Bracha Group
The Bracha Group has been one of the top producers at Prudential Douglas Elliman for the past five years. The Wall Street Journal, lore Magazine and REAL Trends all named them one of the top 50 real estate teams in the country by sales volume. In 2009, Bracha Group was honored with company wide accolades: #1 Team in sales exclusives, #1 Team in gross commissions, and #3 Team in transactions. The Bracha team provides the full scope of residential brokerage and marketing services offering personal attention and customized sales plans for its clients.