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Icon Realty to sell 104-unit NYC condominium project for $714M

Developer Icon Realty Management LLC is planning to sell a two-tower project comprising 104 condominiums at the Upper East Side in Manhattan, N.Y., for an aggregate of $714 million, The Real Deal reported, citing an offering plan approved by the New York State Attorney General in December 2018.

The asking price translates to an average of nearly $6.9 million per unit, making the project the priciest development north of 80th St. on the East Side, according to the Jan. 3 report.

Icon secured a $425 million loan from Bank of the Ozarks and Apollo Global Management LLC in 2017 to fund the towers at 301 E. 80th St. and 301 E. 81st St.