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501 Third Avenue, via Google Maps

Demolition Permits Filed for 499-501 Third Avenue, Kips Bay, Manhattan

Plans for a thirteen-story mixed-use building were first floated in 2016 at 501 Third Avenue, on the 34th Street border between Kips Bay and Murray Hill. While the site has since sat idle, this appears to be changing up. Demolition permits have now been filed for two buildings, at 499 Third Avenue and 501 Third Avenue. Xin Xu of China Overseas Land & Investments Co filed the documents.

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12 West 48th Street

Boutique Retail Building Planned at 12 West 48th Street, Midtown

DNA Development has acquired, for $37.2 million, the seven-story parking garage at 12 West 48th Street, located mid-block between Fifth and Sixth avenues in Midtown. The developer is planning to build an unspecified amount of boutique retail space, Real Estate Weekly reported. The 7,531-square-foot property can accommodate up to 90,372 square feet of mixed-use development as-of-right and is zoned for residential, commercial, and community facility space. If the developer follows through with a solely commercial building, up to 75,310 square feet of space can be built. New building applications haven’t been filed, although demolition permits were submitted in June. Completion is expected in early 2018.

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