The Real Deal New York

Lalezarian planning 38-story Hudson Yards resi tower

Building near Spitzer, Fascitelli projects will have 250 units

June 11, 2015 04:55PM
By Rich Bockmann

513-521 West 36th Street and Kevin Lalezarian (inset)

513-521 West 36th Street and Kevin Lalezarian (inset)

Lalezarian Properties is looking to build a 38-story apartment tower in Hudson Yards near upcoming projects by Eliot Spitzer and Mike Fascitelli’s Imperial Properties.

The Nassau County-based developer plans to erect a 250-unit, 330,000-square-foot building on the block between West 36th and 37th Streets just west of Tenth Avenue, according to an application filed with the Department of City Planning.

Lalezarian began assembling a development site there in 2012, paying a total of $46.9 million for a trio of properties from 513-521 36th Street and another behind them fronting on 37th Street. Twenty percent of the units will be set aside as affordable housing.

Company principal Kevin Lalezarian could not be reached for comment.

Like a plastic building on a Monopoly board, the project fills out another property in the Hudson Yards neighborhood created when the city rezoned the section of the Far West Side in 2005.

On the block south of Lalezarian’s site, Spitzer Engineering plans to build office and hotel properties, while two blocks to the north, Fascitelli’s Imperial is working to develop a 250-unit rental building.

Lalezarian is currently developing three rental buildings with 374 apartments further south at 28th Street along the High Line.