SMA Equities recently secured a $56 million financing package to complete a new 20-story mixed-use building in Kips Bay, Manhattan. The project is located at 202 East 23rd Street and will eventually yield a mix of income-restricted and market-rate apartments and around 2,400 square feet of lower-level retail.
YIMBY stopped by 202 East 23rd Street in Kips Bay, the future site of a 14-story mixed-use building from Hill West Architects and SMA Equities. Recent photos from Tectonic show the state of progress at the lot, which is located at the southern corner of Third Avenue and East 23rd Street. Two vacant three-story buildings sit boarded up, awaiting the start of demolition.
Permits have been filed for a 14-story mixed-use building at 202 East 23rd Street in Kips Bay, Manhattan. Located on the corner of Third Avenue and 23rd Street, the lot is two blocks east of the 23rd Street subway station, serviced by the 6 train. SMA Equities is listed as the owner behind the applications.
Demolition permits have been filed for a three-story building at 297 Third Avenue in Gramercy, Manhattan. Located between East 23rd Street and East 22nd Street, the site is two blocks east of the 23rd Street subway station, serviced by the 6 train. SMA Equities is listed as the owner behind the applications.
SMA Equities has acquired the three low-rise properties spanning 295-299 3rd Avenue, in Gramercy, which amount to 13,000 square feet of mixed-use space, for $27.8 million. Per The Real Deal, the assemblage boasts 46,000 square feet of building potential, and development plans have yet to be disclosed.