Demolition Is Complete At 201 East 23rd Street in Kips Bay, Manhattan 

Photo by Michael Young

Demolition work has concluded at 201 East 23rd Street, the site of a 19-story residential building in Kips Bay, Manhattan. Developed by Naftali Group, which acquired the property in a 99-year ground lease for $21.5 million last September, the 210-foot-tall structure will span 111,000 square feet and yield 69 units, likely condominiums, as well as ground-floor retail space. The property is alternately addressed as 301 Third Avenue and is situated at the intersection of Third Avenue and East 23rd Street.

Recent photographs show the plot cleared of the two-story commercial building formerly occupied it. Naftali Group signage with the words “A new classic is being crafted,” adorn the sidewalk fencing. YIMBY predicts construction to break ground sometime later this year.

Photo by Michael Young

Photo by Michael Young

Photo by Michael Young

The below Google Maps image shows the former site conditions prior to demolition work.

Image via Google Maps

The nearest subway station from the upcoming development is the 23rd Street stop to the west along Park Avenue South, servicing the local 6 train.

An architect, construction timetable, and renderings have not been disclosed.

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6 Comments on "Demolition Is Complete At 201 East 23rd Street in Kips Bay, Manhattan "

  1. Wonder how the land lease will affect the pricing of what are usually quite high end apartments…

  2. David : Sent From Heaven. | July 8, 2024 at 11:52 am | Reply

    Just the sidewalk fence is beautiful, and what about other progresses? Thanks.

  3. At least nothing of value was lost

  4. Damned Architect | July 8, 2024 at 12:45 pm | Reply

    Condominiums are impossible with a ground lease, so its either going to be rentals or coops.

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