Demolition Permits Filed for 499-501 Third Avenue, Kips Bay, Manhattan

501 Third Avenue, via Google Maps501 Third Avenue, via Google Maps

Plans for a thirteen-story mixed-use building were first floated in 2016 at 501 Third Avenue, on the 34th Street border between Kips Bay and Murray Hill. While the site has since sat idle, this appears to be changing up. Demolition permits have now been filed for two buildings, at 499 Third Avenue and 501 Third Avenue. Xin Xu of China Overseas Land & Investments Co filed the documents.

New building permits were filed under Extell in July 2016, proposing at 13-story 57,900 square foot structure with residential and commercial space. The building was to be designed by DJ Associates Architect.

Extell purchased the two buildings in December 2015 for a combined $16 million. The building was sold in November 2017 for $75 million according to the Real Deal, working out to $550 per buildable square foot, with a total 135,000 square feet possible.

Permits have not yet been filed for the new building, and an estimated completion date has not been announced.

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TFC Horizon

1 Comment on "Demolition Permits Filed for 499-501 Third Avenue, Kips Bay, Manhattan"

  1. Please pardon me for using your space: Remove me from details of developments I cannot.

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