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A real estate firm is planning to build a new residential tower at 1352 First Avenue (between 72nd and 73rd streets), Crain’s New York Business reports.
The Midtown-based Manocherian Brothers submitted plans to the city for a 23-story complex which will rise 256 feet and contain 148 apartments plus ground floor retail.
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The current building on the lot is a four-story mixed use structure which shares an address with a Duane Reade next door. Manocherian Brothers bought the property in February 2019 for $14 million, property records show.
ODA, a design firm based in Tribeca, will reportedly handle the new building’s architecture and design. The company filed permit applications on November 26, according to Marketproof. In addition to bike storage, a lobby and a recreation room, the city has called for floors two through 23 in the proposed building to contain anywhere from four to eight apartments, records show.
This development is just the latest in a steady stream of construction-related news in the neighborhood.
Further up First Avenue, it was recently revealed that the building at 355 East 86th Street, formerly home to Hybrid Florist, is set to be demolished to make way for yet another 23-story mixed use building. The building plan calls for 99 dwellings, as well as—you guessed it—ground floor retail space, according to New York YIMBY.
The current building, a neighborhood landmark known for its distinctive “Liquors” sign, is made up of 34 residences; though dozens of businesses operated out of the space over the years, only Hybrid Florist remained until it closed this location in June 2023. The building sold for $14.5 million in December 2020.
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The 2nd Ave Subway should have a similar development effect in the 100s years from now.