Adellco’s Boutique Condominium Armorie Achieves Landmark Sellout

The deal marks one of the fastest sellouts in New York City history

NEW YORK--(BUSINESS WIRE)-- Adellco, a leading real estate owner, developer and manager, with more than 25 years of experience, has announced that Armorie, an exclusive collection of 20 bespoke loft residences, located at 114 East 25th Street, is completely sold out following a soft launch in February. All condominium units and the commercial space at Armorie are now in contract with one buyer for $71 million, achieving Schedule A pricing. The deal is a testament to the demand for Adellco’s exceptional vision, attention to detail and design-driven approach. It also speaks to the firm’s ability to deliver what the market wants with ground-up and adaptive re-use properties, and the strength of the New York City real estate market overall.

Armorie, an exclusive collection of 20 bespoke loft residences developed by Adellco, is completely sold out following a soft launch in February. Image credit: VMI Studios.

"Shortly after we revealed the project, having a number of offers for individual residences at our asking price, a ready, willing and able buyer came forward requesting to purchase several of the residences. The ensuing negotiations culminated in the buyer purchasing all of the residences," said Matthew Adell, owner of Adellco. "We had the units on the market for just a few days during the week of the market turmoil and completed the terms against a backdrop of economic turbulence. The deal speaks volumes to the appetite for quality real estate assets in New York City and the value of exquisite design and execution."

Armorie has been collaboratively reimagined by the internationally renowned firm of Andre Kikoski Architecture (AKA) and Adellco. Corcoran Sunshine Marketing Group is the exclusive sales and marketing agent.

Armorie features one- to four-bedroom homes and a magnificent penthouse with a private rooftop terrace. Interiors showcase a sophisticated array of elegant stone, custom millwork, and bespoke finishes. Features such as 10'5" high ceilings in many living areas, beautiful wide-plank oak flooring, and oversized casement windows differentiate this spectacular boutique condo.

Originally constructed in 1921, Armorie is a 13-story former publishing house between Park Avenue South and Lexington Avenue with a striking brick facade with stately keystone accents. Kitchens have custom millwork with Taj Mahal quartzite countertops, backsplashes, and waterfall islands. Top-of-the-line Miele appliances include integrated refrigerators and freezers, under-counter wine refrigerators in Obsidian black glass, and gas cooktops.

Primary bathrooms feature solid custom wood vanities with Ajax blue marble countertops and a slab wall, and precious white marble flooring and walls. Secondary baths are equally well-appointed, featuring custom Jura beige vanities with back-painted glass doors, Mayorca Ivory limestone walls and flooring, and Kohler soaking tubs in select residences. Modern comforts include fully vented stove hoods, VRF heating and cooling systems and discreet laundry rooms with Miele washers and dryers.

Stunning amenities include a beautifully-furnished roof deck with elegant chaise lounges and dining areas. The spaces are perfect for relaxation and entertaining, complete with a wet bar. A stylish state-of-the-art gym features walnut wood walls and flooring and high-end equipment. Armorie’s 24/7 doorman-attended lobby will feature elegant walnut walls and travertine flooring.

The Hottinger Team headed sales at Armorie for Corcoran Sunshine. Armorie follows the success of The Wales, the historic conversion of the famed Wales Hotel in Carnegie Hill into luxurious residences, d’Orsay, a boutique condominium on 14th Street with interiors by AD 100 designer Jacques Garcia, and 27 East 79th Street, an ultra-exclusive condominium steps from Central Park with interiors by world-renowned Parisian design firm, Cabinet Alberto Pinto.

To learn more, visit: thearmorie.com, or email: sales@thearmorie.com.

About Adellco
Adellco LLC is a full-service real estate owner, developer, manager and design firm with more than 25 years of experience. Wholly owned by Matthew Adell, Adellco is one of New York's premier developers, having developed several of New York City's most sought-after residential buildings in neighborhoods throughout Manhattan. These projects consist of ground-up developments and redevelopments and renovations of existing buildings. Adellco self-manages, providing a level of service that matches the quality and design of its buildings. The pairing of Adellco's high-quality developments with professional, resident-focused service allows Adellco’s projects to garner values that outperform the highest-end competitors in their neighborhoods. Adellco is also very actively involved in the debt and equity capital markets and leasing and sales.

About AKA
Andre Kikoski Architecture (AKA) is a New York City-based firm committed to the idea that architecture should be transformative and transformational. For AKA, architecture is a definitive tool to advance communities and cities to make the world a better place. The firm defines its success in terms of the ability to solve problems with dynamic new ideas for these and future generations.

AKA’s portfolio has garnered more than 75 international design awards and includes private residences, workplaces, galleries and museums, mixed-use multifamily residential developments, hospitality projects – including restaurants, resorts, and hotels – and public and cultural projects. AKA has been featured in more than 1,000 publications across 30 countries, including Architectural Digest, Architectural Record, Fast Company, Interior Design, Surface, the New York Times, the Wall Street Journal, and Wallpaper*, among others.

About Corcoran Sunshine Marketing Group
With more than 30 years of experience in marketing and collective sales of over $60 billion, Corcoran Sunshine Marketing Group is the recognized industry leader in the researching, planning, design, marketing, and sale of luxury residential development both in the United States and across the globe. Bringing together the best and brightest minds in the business and bolstered by incomparable market knowledge and innovative strategic vision, Corcoran Sunshine has consistently been ranked the top marketing and sales organization in the industry.

Corcoran Sunshine's portfolio contains a collection of the world's most desirable new addresses-many of which are global icons-including high-rise and mixed-use buildings, boutique developments, hotel­branded condominiums, resort communities, and master plan developments. We have also led the conversion of existing buildings, including commercial, rental, and hotel to condominium conversions, and we consult on a variety of residential types from predevelopment through post-development.

As the new development division of The Corcoran Group, the premier residential real estate brokerage in New York City, The Hamptons, and South Florida, Corcoran Sunshine has direct access to over 2,500 agents in our core market (29 offices) and over 5700 agents and brokers nationally with over 100 offices from Hawaii to Palm Beach.

Our parent company Anywhere Real Estate (NYSE: HOUS) operates in 120 countries with over 320,000 independent sales agents throughout the world. Anywhere is a global leader in residential real estate franchising and brokerage with many of the best-known industry brands including Coldwell Banker®, CENTURY 21®, Sotheby's International Realty®, ERA®, and Better Homes and Gardens® Real Estate.

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Victoria Shannon

Cofounder, August PR

victoria@augustprny.com

631-525-3394

Source: Adellco LLC