The Sycamore on the rise in Kips Bay. (Residential).

There are four factors that make The Sycamore, a new-construction condominium building rising at 250 East 30th St. in Kips Bay, unique. First, the building is the first ground-up residential condominium building in Kips Bay in 20 years and only the second built in 40 years.

Second, the 14-story building is nearing completion at the same time it is going to market, which means buyers may take possession immediately instead of waiting one-to-two years for a new-construction home in New York City. Third, them are an unusually high level of services and amenities, including a 24/7 concierge, a screening room, a fitness center and a roof garden, for a jewel of a building with only 80 residences. Fourth, The Sycamore's 421A-tax abatement program effectively reduces the monthly carrying charges over a 10-year period.

Kennelly Development Company, LLC and partners Metropolitan Housing Partners, LLC (MHP) and the DeMatteis family, whose Calakar Construction Services provided all construction management services, have created homes designed by H. Thomas O'Hara with oversized windows that allow for stunning city and East River views.

The Sycamore Sales Office, with two stylishly appointed model residences, opens this May and the homes are available for occupancy in July. The homes range from studios to two bedrooms ranging in size from 440 to 1,300 SF with four special throe-bedroom residences, which range in size from 1,470 to 1,555 sq. ft. Prices range from $290,000 to over $1 million.

With only 80 residences, The Sycamore provides 24-hour concierge service seven days a week for convenience and security; a residents' lounge with a big-screen television, surround sound, a DVD player, a wet bar and comfortable seating; as well as a fitness center. A landscaped rooftop terrace with an outdoor shower offers panoramic views of the Manhattan skyline and a perfect place for a quiet morning coffee, afternoon sunning or an evening cocktail. Laundry rooms are conveniently located on floors three through 10, and washers and dryers are included in all residences located on the 11th through penthouse floors.

Under the 421A tax abatement program, buyers enjoy as much as a 90 percent discount from what real estate taxes are with planned phase-ins up to full tax payment at the end of 10 years.

The Sycamore features a gracious lobby with a marble floor accented by a tumbled-marble mosaic, soaring ceilings and rich wood paneling. State-of-the-art elevators feature maple and stainless-steel paneling and marble floors.

The residences offer hardwood strip floors throughout foyers, living areas and bedrooms as well as high ceilings and oversized windows.

The kitchens combine classic styling with rich Golden Peach granite countertops and warm shaker-style maple cabinets. GE Profile stainless steel appliances include a gas range, a microwave, a dishwasher and a refrigerator with a freezer below. A Kohler Coralais faucet with pullout spray complements the extra-deep, under-mounted, stainless steel sink. Porcelain tile floors are both unique and classic in detail.