Buyers racing to purchase homes at The Sycamore.

First-time homebuyers and investors are hurrying to purchase homes at The Sycamore, a condominium that has sold over 70 percent of its residences in just over a month on the market.

The new-construction condominium, located at 250 East 30th Street, is the first ground-up residential condominium building in Kips Bay in 20 years and only the second to rise in 40 years. *

Under development by Kennelly Development Company, LLC and Metropolitan Housing Partners, LLC (MHP), the homes range in price from $330,000 to over $1,500,000.

"The building's diverse selection of homes from studios to three bedrooms is proving to be ideal for singles, families and empty nesters. With many neighborhood-loyal buyers, it is also clear that people recognize the intrinsic value of the long-established Kips Bay neighborhood," stated Jim Kennelly, president of Kennelly Development Company, LLC.

"We worked very hard to create uniquely high ceilings and extra tall windows that open to a Midtown skyline, where even the homes on the lower floors have views of some of New York City's most well-recognized landmarks such as the Empire State Building," continued Kennelly. "The market is clearly appreciating our efforts."

Jane Gladstein, principal of Metropolitan Housing Partners, LLC, added, "With only 80 residences, The Sycamore is small enough to create an intimate community, yet it offers the services and amenities of a larger building. Our strong sales indicate that The Sycamore has filled a unique niche in the market."

Fully completed and ready for immediate occupancy, the 14-story building boasts a landscaped rooftop terrace with an outdoor shower and stunning panoramic views of the Manhattan skyline.

Additional services and amenities include a 24/7 concierge, a fitness center, and a residents lounge with a fully equipped entertainment system and wet bar. There is a laundry room on each of the third through 10th floors and a washer/ dryer in every residence on the 11th through penthouse floors.

The Sycamore features studios to two-bedroom homes that range in size from 440 sq. ft. to 1,300 sq. ft. Four special three-bedroom residences range in size from 1,470 sq. ft. to 1,555 sq. ft.

All residences feature hardwood strip floors, high ceilings and oversized windows.

The kitchens combine the classic styling of rich granite countertops and shaker-style maple cabinets with porcelain tile floors and a fine selection of GE Profile stainless steel appliances, including gas ranges, microwaves, dishwashers and refrigerators with freezers below. All baths feature marble floors, countertops and tub surrounds complimented by Kohler fixtures.

* REBNY and City Planning assisted with research information.

The Marketing Directors, Inc. is the marketing and exclusive sales agent. Tel: 212.689.300, www.thesycamorenyc.com.