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.
Construction is rising on 202 East 23rd Street, a 20-story residential building in Kips Bay, Manhattan. Designed by Hill West Architects and developed by SMA Equities, the 90,000-square-foot structure is being built to Passive House standards and will yield 108 units with floor plans ranging from studios to two-bedrooms. Eighty homes will be set at market-rate pricing and the remaining 28 will be designated for affordable housing. KSK Construction Group, LLC is the general contractor for the project, which is located at the corner of East 23rd Street and Third Avenue.
The affordable housing lottery has launched for 325 East 25th Street, a nine-story residential building in Kips Bay, Manhattan. Designed by SLCE Architects, the structure yields 56 residences. Available on NYC Housing Connect are 55 units for residents at 80 to 165 percent of the area median income (AMI), ranging in eligible income from $48,755 to $177,210.
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.
Full demolition permits have been filed for 429, 433, and 437 Second Avenue in Kips Bay, Manhattan. A single building with 160 feet of frontage encompasses the three adjacent lots on the southwest corner of Second Avenue and East 25th Street.
