Carmel Partners planning apartment tower for UES dev site

Gatsby Enterprises filed plans for similar project blocks away, brining total of 200 units

New York /
Jan.January 31, 2022 02:30 PM

Renderings of the planned developments at 1343-1347 Second Avenue (left) and 1487 First Avenue (right) along with the current sites (middle) (Google Maps, NYC Planning)

There goes the neighborhood (garden).

Two separate plans were filed for developments in the Upper East Side last week, according to the Patch. The two proposed developments would bring more than 200 apartment units to the neighborhood.

One proposed building is at the southwest corner of First Avenue and East 78th Street. California-based Carmel Partners is proposing a 24-story, 209-foot building where neighbors were campaigning for a community garden. According to the Patch, plans have already been filed to demolish buildings at 1487 First Avenue and 356 East 78th Street to make way for the proposed building.

The building will be designed by Hill West Architects to include 94 apartments, averaging 1,900 square feet. There will also be 7,100 square feet of commercial space on the ground floor and basement.

The San Francisco-based investment firm headed by Ron Zeff paid $73.5 million for the vacant site earlier in January. The firm has the ability to increase the size of a development by purchasing inclusionary housing certificates.

The Patch reported affordable housing does not appear to be part of Carmel’s plans.

Another apartment development is set to hit the neighborhood, just a few blocks downtown from Carmel’s.

Isaac Ohebshalom of Gatsby Enterprises filed plans for a 21-story, 214-foot building at the corner of Second Avenue and East 71st Street, the Patch reported. The building would include 134 apartments averaging 834 square feet in size, as well as 7,500 square feet of retail space on the ground floor and cellar.

The developer previously filed to demolish 1343-1347 Second Avenue and 242 East 71st Street in 2020, but the buildings are still standing. The development plans came as a surprise to the owner of at least one tenant, Jean Claude II owner Kamel Moumeni.

“The landlord never said anything to us,” Moumeni told the Patch about the development plans. Ohebshalom acquired the four-building parcel in 2008 for $27.5 million.

[Patch] — Holden Walter-Warner





    Related Articles

    arrow_forward_ios
    Naftali Group's Miki Naftali, BRP Companies' Meredith Marshall (Photos by Paul Dilakian)
    Miki Naftali, Meredith Marshall talk development, death of 421a
    Miki Naftali, Meredith Marshall talk development, death of 421a
    Gary Barnett
    Gary Barnett has something to say
    Gary Barnett has something to say
    Ben Shaoul and 1457 North Main Street (Getty, LoopNet)
    Ben Shaoul plans 376-unit complex near L.A.’s Chinatown
    Ben Shaoul plans 376-unit complex near L.A.’s Chinatown
    331 Elmora Avenue and 103 Ryan Street (Kislak Realty)
    Tri-state deal roundup: Multifamily, industrial still hot
    Tri-state deal roundup: Multifamily, industrial still hot
    Barbara Russo, Danielle Englebardt, and Oren and Tal Alexander (Getty, iStock BFA)
    Ranking the top residential brokers on the Upper East Side
    Ranking the top residential brokers on the Upper East Side
    Adam Leitman Bailey, Y. David Scharf, and Miki Naftali with 215 West 84th Street (Adam Leitman Bailey, Morrison Cohen, Getty)
    Naftali lays out project as holdout tenant plays new card
    Naftali lays out project as holdout tenant plays new card
    Seth Boyden Court in Newark NJ with Great Point Studios CEO Robert Halmi (Loopnet, Great Point Studios, iStock)
    Film studio to replace vacant public housing in Newark
    Film studio to replace vacant public housing in Newark
    Harry and Linda Macklowe (Getty Images, Andy Warhol Foundation for the Visual Arts, Inc./Artists Rights Society (ARS), NY, Sotheby's, iStock)
    Macklowe art collection fetches nearly $1B at auction
    Macklowe art collection fetches nearly $1B at auction
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...