"Affordable Luxury"

March 30, 2016 — The seven-story condo building on the site of the long-gone Christ Lutheran Church on East 19th Street is being billed as “affordable luxury.” What, exactly, does this only-in-New-York real estate oxymoron mean? It means that the lowest-priced of the seven full-floor apartments can be had for just $3 million. All apartments will have an outdoor space, and the penthouse comes with a private terrace. A “townhouse-style” duplex on the ground floor, with private back yard, is asking a bit more than $4 million.

“Affordable for the neighborhood,” as Curbed put it, “but maybe not for the average New Yorker.”

Maybe not?

Designed by Brent M. Porter Architects and developed by Yosi Cohen, the building will be clad in beige Kolumba bricks imported from Denmark, a departure from the ornate brickwork found throughout the neighborhood. Renderings of the stark exterior drew mixed reactions from Curbed readers. “Neo-Brutalism?” asked one. “It’s a lovely Soviet bunker!” said another.

What do you expect for a paltry $3 million?

Tamir Shemesh, who's heading the building's sales team for The Corcoran Group, says he prefers the term "Accessible Luxury." "$3 million is still a big price tag," he says, "though unfortunately in New York real estate today, it's not."