Oyster Capital Group’s Upper East Side Townhouse Development Receives LEED Gold Certification – The First of Its Kind in Manhattan

NEW YORK--(BUSINESS WIRE)--Oyster Capital Group (OCG), a Manhattan based luxury single family townhouse developer, has received official notification from the US Green Building Council that their first property development, located at 243 East 82^nd Street in Manhattan, has received LEED Gold environmental certification. This level of certification is the first of its kind in Manhattan under the USGBC’s LEED for Homes® program and the “Gold” distinction is the highest level that any townhouse has ever achieved in Manhattan. The approximately 5,000 sf luxury townhouse has been listed for sale with Michael Pellegrino of Sotheby’s International Realty (www.sothebyshomes.com/nyc/sales/0016978).

Features and amenities include twelve rooms, five bedrooms, five bathrooms, custom ceiling heights, a finished basement, personal elevator, wide planked white oak flooring, radiant floor heating, six-zoned central air conditioning, two indoor fireplaces and one outdoor fireplace, fifteen closets, a built-in outdoor BBQ, marble countertops, a custom wine cellar, and two separate laundry rooms.

OCG recognized a lack of supply in the finished, “turn-key”, townhouse market and combined this with the demand for environmentally friendly living. They have developed a model for both new construction and substantial renovation of existing buildings within residential neighborhoods in Manhattan using the LEED for Homes® framework while maintaining a luxury aesthetic. Their second townhouse development is also on the family friendly Upper East Side, located at 161 East 80^th Street, and is scheduled to be completed in the summer of 2011.

There are so-called “green” single family townhouses in New York City but none meet the gold standard set in the LEED program. “People want to raise their children in cleaner, healthier environments. We have figured out a way to construct a home that is 30-40% more energy efficient and has substantially better indoor air quality than the average home, while at the same time appealing to aesthetic needs of the Manhattan luxury buyer,” says Teddy Schiff, Managing Partner of Oyster Capital Group.

ABOUT OYSTER CAPITAL GROUP

Oyster Capital Group acts as a principal specializing in urban infill projects and opportunistically invests in value added ventures with the luxury consumer in mind. OCG has two Manhattan single family townhouse sites currently under development; both are on the Upper East Side and are pursuing LEED certification.

ABOUT LEED FOR HOMES®

LEED for Homes® is a voluntary rating system developed by the U.S. Green Building Council (USGBC) that promotes the design and construction of high performance "green" homes. A green home uses less energy, water, and natural resources; creates less waste; and is healthier and more comfortable for its occupants.