Michael Paul Enterprises' Upper East Side boutique condominium building more than 50% sold

March 24, 2014 - Front Section

Michael DAlessio, Michael Paul Enterprises, LLC

According to Michael Paul Enterprises, LLC, a full service real estate investment and development firm, its newest boutique residential condominium project, 230 East 63rd Street, is more than 50% sold. Located on Manhattan's Upper East Side between Second and Third Avenues, four of the building's six residences, including its penthouse, have signed contracts.
The two-bedroom, 1,734 s/f penthouse includes a furnished roof deck with an outdoor grill/kitchen and a seating area with a television. The other three residences, all two bedrooms, are each 1,734 s/f, full-floor units.
"Developing a boutique condominium in a vibrant neighborhood like the Upper East Side offers residents a private living experience, yet in close proximity to the best restaurants, museums, shopping and parks," said Michael D'Alessio, president and CEO of Michael Paul Enterprises, LLC. "The building stands apart from the influx of large residential high-rises in the neighborhood. 230 East 63rd Street offers an intimate living experience, which is clearly what buyers are looking for since we're already more than half sold."
The remaining residences for sale at 230 East 63rd Street include a three-bedroom, ground floor duplex with expansive outdoor space and a two-bedroom unit. Every residence includes a wood burning fireplace; white oak radiant floor heating throughout; a washer and dryer; double-paned windows; custom tile backsplash; CaesarStone countertops; Sub-Zero and Wolf appliances; and Bianco Carrera marble bathrooms. Amenities include a fully-equipped fitness center and generous storage space on the lower level for each unit.
"230 East 63rd Street offers residents luxurious and modern fixtures in a building with unique charm," said Richard Steinberg of Warburg Realty, the exclusive sales agent for the building. "“Interest has clearly been strong out of the gate, as this type of home appeals to a wide range of buyers including those living in NYC both full-time and part-time."
Built in 1905, 230 East 63rd Street was originally a three-story building. Most recently it contained apartments on the second and third floors and the former Italian restaurant Bravo Gianni on the ground floor, which closed its doors in 2011. Michael Paul Enterprises, LLC purchased the property last year and did a complete gut renovation, ultimately deciding to transform the building into six luxury residences.
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