Permits Filed: 34-Story Building at 368 Third Avenue, Kips Bay

360-368 Third Avenue, image via Google Maps360-368 Third Avenue, image via Google Maps

A 34-story, mixed-use tower is coming to the corner of 27th Street and Third Avenue in Kips Bay, on the east side of Manhattan.

New building applications filed yesterday reveal that the development at 368 Third Avenue will rise 388 feet into the air and fill most of the block between 26th and 27th streets. The residential portion would hold 103 apartments across 113,200 square feet, for relatively spacious units averaging nearly 1,100 square feet.

The ground floor would have 3,000 square feet of retail, followed by a single apartment and amenities on the second floor. The third to 25th stories would host three to four units each, and the last six stories would host just two units apiece. Two penthouse duplexes would fill the top two stories.

Those amenity spaces on the second floor include a fitness room, lounge, and children’s playroom.

SLCE Architects will design the building, and Midtown-based Continental Ventures and Itzhaki Acquisitions are co-developing.

The development site includes five small pre-war buildings, ranging from four to six stories. They currently house 53 apartments and seven storefronts. Continental picked up the properties in five separate sales early last year and paid a combined $49,600,000. These lots come with some of the juiciest mixed-use zoning in Manhattan, which encourages big towers with a setback after the 10th or 12th floor.

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TFC Horizon
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4 Comments on "Permits Filed: 34-Story Building at 368 Third Avenue, Kips Bay"

  1. The ability of plan and build, developer need to put property at first.

  2. Chet Arthur | May 20, 2016 at 1:15 pm |

    Will it demolish Broadway Alley?

    • Rebecca Baird-Remba | May 23, 2016 at 9:53 am |

      That’s a good question! I don’t know but I can ask the developer. They will probably leave it there, if it’s in use by the apartment building on the corner and the ones next door on 26th and 27th Streets.

  3. When will the current restaurants and bar in those buildings close down?

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