(Google Maps)
Permits have been filed for a new mixed-use building at 1598 Second Avenue (at the corner of East 83rd Street). The 22-story building will house 70 residences and include nearly 2,500 square feet of commercial space.
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Lalezarian Properties, a family-owned property management and development company, is developing the property and SLCE Architects is handling the design, according to New York Yimby.
Once completed, the high-rise will transform the corner where three five-story buildings originally constructed in 1920 once stood. Duke’s and Firenze were among the businesses that previously occupied the ground floor space of those buildings, which Lalezarian demolished after a legal battle with neighboring ownership at 1592 Second Ave. Excavation at 1598 began in November of 2022 and the building is estimated to be completed by the end of 2024.
(Google Maps)
The Real Deal listed SLCE as the busiest new construction architecture firm in NYC in 2022, having designed more than 3.7 million square feet across 12 projects. Past notable projects include Via 57 West, Brooklyn Point, One57, Lyra NYC, Gotham West, and EVE NYC. SLCE won two Lucy G. Moses Preservation Awards in 2022 for its work at One Wall Street and the T Building.
Other recent Lalezarian projects include the $34 million acquisition of a Kip’s Bay office building and construction of two residential towers — one at 509 Third Avenue in Murray Hill and another at 606 West 30th St. near Hudson Yards.
The new construction at 1598 Second Avenue is on the same block as the south entrance to the 86th St. subway station and within a few blocks of popular UES spots like The Penrose, H&H Bagels and Levain Bakery.
I assume there will be no “use” in this new tower for anyone making less than $300k a year.
Why would a household making less than 300k a year purchase a condo in a superluxury new construction building in the wealthiest urban neighborhood on the planet? They can live very well in 99.99% of the planet, but obviously not on the best streets in Beverly Hills or the best buildings on the UES.