The Real Deal New York

Thor, Premier file plans for Upper East Side resi building

Project appears to be a downsizing from previously reported plans
By Eddie Small | March 14, 2018 06:10PM

From left: Yaron Jacobi Uzi Ben-Abraham, Joseph Sitt and 1297-1299 Third Avenue

UPDATED, 6:42 p.m. March 15: Premier Equities and Joseph Sitt’s Thor Equities have filed plans for a new residential building at 1299 Third Avenue on the Upper East Side

The building, which they are developing with Continental Ventures, will stand six stories tall and contain three residential units, according to plans filed with the Department of Buildings. It will span just under 21,000 square feet overall, split between 1,249 square feet of commercial space and 19,678 square feet of residential space. They also intend to incorporate air rights.

Thor and Premier previously planned a 31-story condo tower at 1297-1299 Third Avenue spanning 100,000 square feet with retail at the base. It appears that the plans filed on Wednesday represented a downscaled version of this project. Thor and Premier did not immediately respond to requests for comment.

The two companies teamed up for the project at the beginning of 2017, after Premier paid $26 million for the final piece of an Upper East Side assemblage. Premier, led by Yaron Jacobi and Uzi Ben-Abraham, owns three adjacent buildings at 1291-1295 Third Avenue. Together, those sites have 44,100 buildable square feet.

Elsewhere in the area, Icon Realty Management recently sold a walk-up building at 210 East 95th Street for $12.2 million, and HFZ Capital Group bought an Upper East Side building at 1135 Lexington Avenue in a possible assemblage play. 

This story was updated to provide more details on the project.