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Buyers Start Closing at Upper East Side's Georgica

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With the Second Avenue Subway now nipping at its heels, Georgica?20 glassy stories looming over an unfortunate Yorkville survivor?has finally started selling. The 58-unit luxury condo building named after the Hamptons' Georgica Pond was launched two years ago, and no family, doctor or pair of khakis was safe from the sales pitch. Back then asking prices bottomed out at $1.95 million, but these things have a way of changing over time, don't they? StreetEasy records show that six units have closed since November (following the super's second-floor unit being transferred to the condo board), including three for less than that original low-water mark. There also seems to be some wheelin' and dealin' going on: Three units have sold for 15-20 percent below recent asking prices. Care to see?

The handful of sales so far are averaging around $1,200 per square foot, so we can't imagine the developers are too broken up about what's going on unless they're still saddled by 50 or so brand new condos. In which case, we hope the rooftop playground has very high fences. Here's the new view down Second Avenue from 86th Street:


· Georgica at 305 East 85th Street [StreetEasy]
· Georgica [Official Site]
· Georgica coverage [Curbed]

The Georgica

305 East 85th Street, New York, New York 10028