Full demolition permits have been filed for 686 Lexington Avenue and 126 East 57th Street in Midtown East. According to the filings, the two abuting sites are owned by MRR Development, a partnership between Rotem Rosen, Anand Mahindra, and Zahi Hagag. Under the MRR 1326 LLC, the firm also owns the vacant land on the northwest corner of East 56th Street and Lexington Avenue. 126 East 57th Street is a five-story mixed-use building built in 1920 on a 1,665-square-foot lot with six residential units and two commercial units on the ground floor and 686 Lexington Avenue is a five-story office building built in 1922 on a 3,000-square-foot lot.
Plans have yet to be confirmed for the 175,000-square-foot site made up of 13 parcels with frontage on Lexington Avenue and both East 56th and East 57th Streets. There is speculation that ODA Architecture will be responsible for designs with some renderings revealed on architect Eran Chen’s Instagram earlier this year. According to those images, the specs for the development calls for 140,000 to 142,000 square feet of residential condominium space, approximately 5,000 square feet of commercial space, likely in the form of ground-floor retail, and 5,000 to 6,000 square feet of outdoor space. With a floor count of 27 to 31 floors, the building would rise 345 feet high.
The site is two blocks south of the 59 Street-Lexington Avenue subway station, serviced by the N, R, and W trains and four blocks north of the Lexington Avenue-53rd Street station, serviced by the E and M trains.
Ancora Engineering is listed as the applicant of record.