The New King of the Upper East Side Faux-Ops

"It's the 'It' building. The building will be sold-out soon - 20 of the 26 units in the building are now in contract, according to the developers, Legion Investment Group and Nahla Capital. They've already raised prices four times with the attorney general's office since they started selling the development off floor plans last month."

"It really speaks to the demand for these large, quality apartments in boutique Upper East Side buildings. There's just not enough inventory for all these very, very rich buyers. The condo tower, designed by William Sofield's Studio Sofield in the prewar limestone style so popular among uptown buyers, isn't even close to completion."

"Limestone condo towers have a history of selling spectacularly well uptown, ever since 15 Central Park West, known as limestone Jesus, designed by Robert A.M. Stern Architects, hit the market 20 years ago. The buildings themselves are also instantly recognizable: faux-ops, done in limestone or brick, with elegant lobbies, classic floor plans tweaked to modern tastes."

The duplex penthouse at 1122 Madison Avenue has achieved an Upper East Side condo record sale price of $89.5 million, entering contract just one month after sales began in mid-January. The building, developed by Legion Investment Group and Nahla Capital, is nearly sold out with 20 of 26 units in contract. Prices have increased four times since sales launched from floor plans. The limestone-designed tower by Studio Sofield reflects strong market demand for large, quality apartments in boutique Upper East Side buildings, driven by limited inventory for wealthy buyers. The building won't be completed until fall 2025. Limestone condo towers have demonstrated strong sales performance uptown since 15 Central Park West's success, with similar projects featuring elegant lobbies, classic floor plans, and quality amenities designed by renowned architects.

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