The mixed-use property would span more than 200,000 square feet, split between about 193,000 square feet of residential space and 14,000 square feet of commercial space. It would stand 545 feet tall.
All units will be rentals and split between 75 percent market rate and 25 percent affordable units, according to Lalezarian.
In June, the City Council rezoned a few blocks just south of Hudson Yards, which gave Lalezarian and Douglaston Development approval to begin construction on a total of 1,200 apartment units. Douglaston is planning a 62-story building with 931-plus apartments at 601 West 29th Street.
Lalezarian purchased the site from the family of late real estate investor Anita Butensky Katzman in 2015 for $36 million. The property is in Hudson Yards, where the firm has several other projects. These include a 38-story apartment building west of 10th Avenue between 36th and 37th streets and three rental buildings west of 10th Avenue between 28th and 29th streets. The company recently landed a $220 million refinancing package for those properties.
The firm also recently bought a development site at 34th Street and Third Avenue in Murray Hill for $79.5 million.