The Real Deal New York

Demolition begins at Icon’s UES development sites

Construction proper to commence in early 2016

August 11, 2015 08:00AM

Renderings of 1562 Second Avenue (credit Isaac & Stern)

Renderings of 1562 Second Avenue (credit Isaac & Stern)

Work started up at Terrence Lowenberg and Todd Cohen’s Icon Realty Management’s two Second Avenue assemblages.

The developers began full-bore demolition at the two large development sites at 1562-1564 Second Avenue between East 81st and 82nd streets and 1538-1546 Second Avenue between East 80th and 81st streets, the New York Post reported.

Both sites will become luxury mixed-use buildings, composed of residential and retail. Plans were filed last year for a Isaac & Stern-designed, 14-story, 43,832-square-foot tower at 1562 Second Avenue, containing 12 apartments and 2,192 square feet of retail.

Plans haven’t yet been filed for the second second site.

Icon bought the sites, currently home to six tenement buildings, for $44.8 million last year, along with $3 million more for air rights. Icon owns more than 1,800 apartments in the city.

Sources told the Post that construction, as opposed to demolition, isn’t expected to commence until early 2016. [NYP]  – Ariel Stulberg