The Real Deal New York

Excel Development set to demolish four Kips Bay buildings

Developer's plans for the lots are not yet clear

December 01, 2016 05:45PM

339 East 33rd Street

339 East 33rd Street

Excel Development Group is moving ahead with plans to demolish four walk-ups in Kips Bay, though it’s not yet clear what will be going in their place.

Michael Heletz, the head of Forest Hills based Excel, filed plans with the city earlier this week to demolish 339, 341 and 343 East 33rd Street, DNAinfo reported. A fourth building at 345 East 33rd Street, which records show to be owned by an LLC, was also included in demolition plans from the developer. The buildings have a combined 41 units.

Heletz began gathering the property parcels in September last year, according to the news website. He paid $5.9 million for 343 East 33rd Street. He bought the rest of the properties in March, paying $9.2 million for 339 and 341 East 33rd Street. Heletz declined to share his plans for the properties following demolition, according the DNAinfo.

In 2014, Heletz filed permits for a six-story, 79-unit building on the Astoria-Long Island City border. Known as “Vernon Tower” the building is slated to open in Spring next year, and will feature a total of 103 residential units, according to the company website. He also owns five townhouses on Kosciusko Street in Bedford-Stuyvesant. [DNAinfo]Miriam Hall

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