ZD Jasper’s 171 East 86th Street Condo Tower Nears Completion on Upper East Side

• ZD Jasper is advancing a 17-story condo project with 25 units on the Upper East Side
• The development includes retail space and secured a $79 million construction loan
• Project is on track for completion in 2027 as exterior work progresses

What construction progress means for Upper East Side inventory

What the design and layout mean for buyers

The project, designed by Skidmore, Owings and Merrill, will deliver 25 condominium units with an average size of 2,280 square feet. Units will be configured with two residences per floor up to the 11th level, followed by full-floor homes above. Most residences will feature three and four-bedroom layouts, targeting buyers seeking larger living spaces. The building will also include 2,300 square feet of ground-floor retail, adding a mixed-use component and potential income stream. The façade will incorporate terracotta columns, large glass panels, and loggias on both ends of the structure. Setbacks at higher floors create a more tiered design, which is typical for luxury boutique developments in the area.

What this deal shows about financing and development strategy

ZD Jasper acquired the site from Extell in 2023 for $29 million and later secured a $79 million construction loan. That capital stack highlights continued lender appetite for well-located condo developments despite tighter credit conditions. The project replaces a group of low-rise commercial buildings, reflecting a broader trend of repositioning underutilized sites into higher-value residential assets. For developers, this reinforces that prime Manhattan locations with larger unit products still attract capital, especially when paired with strong design and market positioning.

What the location means for long-term value

Located at East 86th Street and Third Avenue, the property benefits from strong transit access. Nearby subway lines include the 4, 5, and 6 trains at Lexington Avenue and the Q train at Second Avenue. This connectivity supports long-term value and buyer demand, particularly for larger units that appeal to end users rather than investors. The Upper East Side continues to attract steady demand due to its established residential base and limited new development opportunities.

What to watch ahead of 2027 delivery

Exterior work is still ongoing, with final window installation and façade detailing underway. Amenities have not yet been announced, which will play a key role in how the project competes with other luxury offerings. As the project moves closer to completion, pricing strategy and absorption rates will be key indicators of market strength. With limited new supply and continued demand for larger units, the development is well-positioned heading into its 2027 delivery window.