The Real Deal New York

Brooklyn’s CW Realty plans UES condo

120K sf building at 1361 First will be a block from the Second Ave. subway

July 13, 2016 10:04AM

1361 First Avenue

1361 First Avenue on the Upper East Side

Brooklyn developer Cheskie Weisz is heading to the Upper East Side with plans to develop a 120,000-square-foot residential condominium one block from the long-delayed Second Avenue subway.

An investor group led by Weisz’s CW Realty — which owns five dozen properties across the river — assembled a site at 355 East 73rd Street, also known as 1361 First Avenue, where the investors plan to erect a 33-story building.

With the first phase of the subway line set to open later this year, the neighborhood “has everything going for it,” Hillel Spinner, a spokesman for the project, told the New York Post.

According to the Post, the developers expect to close next year on 1361 First, which has been owned by the Kadvan family for roughly 60 years. Finnegan’s Wake, an Irish pub that’s been a retail tenant for 40 years, will relocate. The developers purchased 1363 First Avenue in January for $9.4 million.

Designed by HTO-Architect, the planned building will use air rights from 1365, 1369 and 1371 First Avenue, and will cantilever over 1365 First. The site is across the street from The Charles, Bluerock Real Estate and Victor Group’s 31-unit condo at 1355 First.

Earlier this year, CW Realty and Joel Wetzberger’s Joyland Group paid $15.8 million for three apartment buildings at 119-123 Kent Avenue in Williamsburg, which they expanded and renovated with a new brick facade, modern cornices and factory-style windows. [NYP, 3rd] — E.B. Solomont

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