Permits have been filed for an 11-story mixed-use building at 165 Lexington Avenue in Kips Bay, Manhattan. The site is four blocks away from the 33rd Street subway station, serviced by the 6 trains. Lexington Partners, a private equities firm with $38 billion in total assets, will be responsible for the development.
The 120-foot tall structure will yield 58,630 square feet, with 39,480 square feet dedicated to residential use, 280 square feet for a medical office, and 2,860 square feet for two ground floor retail spaces.
43 apartments will be created, with lower-floor units ranging from 500 to 700 square feet. Starting from the ninth floor, just three apartments will occupy each level, taking 1,300 square feet apiece. The penthouse units will have access to private terraces, which will be located adjacent to a shared terrace for all tenants. Other amenities for the building will include a library, lobby, accessory storage, and bicycle parking.
Issac & Stern Architects will be responsible for the design.
Demolition permits have not been filed for the existing structure. The estimated completion date has not been announced.