Izaki Group submits $255M condo plan for 310 East 86th Street in Yorkville

Izaki Group Investments submitted a $ 255.2 million condominium sellout with the New York State Attorney General on July 13, at 310 East 86th Street in Yorkville.

Ron Izaki, the chairman and CEO of Izaki Group Investments, and Eldad Blaustein, the chief executive of IGI-USA, the American development arm of Izaki Group Investments, are listed as the principal sponsors on the filing.

The condo will have 68 residential units, 24 storage units, and 3 commercial units, per the filing.

IGI acquired three adjacent Upper East Side apartment buildings on East 86th Street for $42 million from Extell Development in March of 2017. The purchase included as-of-right air rights and development rights from a neighboring property, which would allow construction of a 71,240-square-foot building up to 210 feet tall. Soon after, reports circulated that IGI planned to construct a 20-story, 80,000-square-foot condo on their newly acquired site.

The following year, in January of 2018, filed demolition plans for the existing buildings on its property at 308, 310, 312, and 314 East 86th Street.

On March 6, 2019, the plans for the condo became official, but much larger than originally reported. The actual plans called for a 150,822-square-foot condo, nearly double the size of the initial reports. 10,280-square-feet were to be used for commercial space in the form of ground floor retail, while the remaining 140,542-square-feet would be for residential use. The 210-foot tall building would have 68-units.

Izaki Group Investments has several other large condos filed with the attorney general. 93 Worth Street Condominium, filed in 2011, has a current sellout of $177.9 million and 155 West 18th Street, filed in 2014, has a current sellout of $124.9 million.