Revealed: 243 East 7th Street, Spacious Two-Family Alphabet City Home

243 East 7th Street, rendering by Studio Razavi Architecture243 East 7th Street, rendering by Studio Razavi Architecture

A more conservative developer during an earlier market cycle might have bought the 24-foot-wide lot at 243 East 7th Street, between Avenues C and D in Alphabet City, and built a rental project with a dozen apartments spread over the less than 10,000 square feet of allowed residential space. But today, the site – picked up for $3.15 million in early 2013, $200,000 off the price paid by the seller in 2008 – is destined for just two multi-floor apartments.

Developer Olivier Jaillon hired Studio Razavi Architecture – headed by Alireza Razavi, whose portfolio includes a number of projects in France, along with the Battery Park Pavilion in New York – to design the building.

243 East 7th Street, rendering by Studio Razavi Architecture

243 East 7th Street, rendering by Studio Razavi Architecture

The lower unit will take up the second and third floors, while the upper one will be a triplex, spanning the fourth, fifth, and sixth floors. The ground floor will be a common area, with the Schedule A filing indicating a pool. Razavi sent YIMBY the following statement, describing the project’s design:

By relying on a variety of different window sizes on the street facade, our wish was to architecturally express this very specific blend of living typologies while providing a strong overall unity. The use of cast-in-place concrete provides a beautifully vibrant background over which to compose the openings. These are all enhanced by tapered steel frames, celebrating the windows openings even more. This will be a two wall concrete system with embedded insulation. The outer wall acts as a rain screen, and the inner wall is structural and exposed.

While the project is of a much higher caliber than most Alphabet City product, it does have some precedent in the Flowerbox Building, a condo project that opened just a few blocks down in 2006 at 259 East 7th Street. The penthouse there sold for around $5.9 million in 2009, the highest price sale in Alphabet City, according to über-appraiser Jonathan Miller. But assuming that the triplex at No. 243 sells for upwards of $1,000 per square foot (likely, given that a sale at No. 259 was made last year closer to $1,500 a foot), it might soon snatch the crown and set a price record for Alphabet City.

Construction is slated to begin next year.

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