Permits have been filed for a 12-story residential building at 429 Second Avenue in Kips Bay, Manhattan. Located between East 24th and East 25th Streets, the lot is a short walk to the 23rd Street subway station, serviced by the 6 train. Bentley Zhao of Nere Li Development LLC is listed as the owner behind the applications.
The proposed 150-foot-tall development will yield 44,571 square feet designated for residential space. The building will have 59 residences, most likely rentals based on the average unit scope of 755 square feet. The concrete-based structure will also have a cellar but no accessory parking.
Morali Architecture is listed as the architect of record.
Demolition permits were filed in May 2021 for the three-story building on the site. An estimated completion date has not been announced.
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