New York

Solow files plans for 42-story tower on East Side

Proposed building is part of long-stalled $4 billion development project

<a class="lavamap_link" style="text-decoration: none !important; color: inherit; box-shadow:none !important; pointer-events: none; cursor: default;" href="https://lavamap.com/property/685-1-Avenue-New-York-NY-10016/1009450023-0" target="_blank" data-address="685%201%20Avenue%2C%20New%20York" data-label="685%20First%20Avenue" data-url="https%3A%2F%2Flavamap.com%2Fproperty%2F685-1-Avenue-New-York-NY-10016%2F1009450023-0" data-bbl="1009450023" data-blockValue="00945" data-lotValue="0023" data-zipcode="10016" data-bldgArea="0" data-bldgDepth="0" data-bldgFront="0" data-landUse="Parking%20facilities" data-lotArea="32%2C364" data-lotFront="163.87" data-lotDepth="197.5" data-retailArea="0" data-resArea="0" data-officeArea="0" data-garageArea="0" data-strgeArea="0" data-factryArea="0" data-otherArea="0" data-bldgClass="G6" data-primaryZoning="C5-2" data-commercialOverlay="" data-far="10" data-buildable="323%2C640" data-airRights="323%2C640" data-propertyNeighborhood="Murray%20Hill" data-latitude="40.7474038288867" data-longitude="-73.9714110363193" data-moreList="%5B%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FviewOnMap.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F685-1-Avenue-New-York-NY-10016%5C%2F1009450023-0%22%2C%22urlLabel%22%3A%22View%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2Fownership.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F685-1-Avenue-New-York-NY-10016%5C%2F1009450023-1%22%2C%22urlLabel%22%3A%22View%20Ownership%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FleaseComps.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Ftherealdeal.com%5C%2Fnew-research%22%2C%22urlLabel%22%3A%22TRData%22%7D%5D" data-articleList="%5B%5D" rel="noopener">685 First Avenue</a> and Sheldon Solow

685 First Avenue and Sheldon Solow

Reclusive billionaire developer Sheldon Solow filed plans to build a 42-story mixed-use tower adjacent to his long-vacant development site along the East River, records show.

The owner of one of the city’s most expensive office buildings, 9 West 57, and a portfolio of East Side rental towers, Solow submitted plans to build a 700,000-square-foot apartment tower with 550 units at 685 First Avenue, according to an application filed with the Department of Buildings Friday.

The site, currently home to a parking lot, sits across First Avenue from a six-acre lot Solow bought from Con Edison in 2005 for  $109 million.

Plans call for roughly 10,000 square feet of commercial space, including retail, and another 56,000 for manufacturing.

Solow owns a number of sites along the East River that had figured into his $4 billion redevelopment plan for the area. He’s sold off portions in recent years.

In 2010, Solow sold a site at the northeast corner of First Avenue and 35th Street to the city’s School Construction Authority for $33.25 million.

He also sold the remaining portion of that full block in 2013 for $172 million to JDS Development, which is constructing the 800-unit 626 First Avenue on the property.

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New York

Solow files plans for 42-story tower on East Side

Proposed building is part of long-stalled $4 billion development project

<a class="lavamap_link" style="text-decoration: none !important; color: inherit; box-shadow:none !important; pointer-events: none; cursor: default;" href="https://lavamap.com/property/685-1-Avenue-New-York-NY-10016/1009450023-0" target="_blank" data-address="685%201%20Avenue%2C%20New%20York" data-label="685%20First%20Avenue" data-url="https%3A%2F%2Flavamap.com%2Fproperty%2F685-1-Avenue-New-York-NY-10016%2F1009450023-0" data-bbl="1009450023" data-blockValue="00945" data-lotValue="0023" data-zipcode="10016" data-bldgArea="0" data-bldgDepth="0" data-bldgFront="0" data-landUse="Parking%20facilities" data-lotArea="32%2C364" data-lotFront="163.87" data-lotDepth="197.5" data-retailArea="0" data-resArea="0" data-officeArea="0" data-garageArea="0" data-strgeArea="0" data-factryArea="0" data-otherArea="0" data-bldgClass="G6" data-primaryZoning="C5-2" data-commercialOverlay="" data-far="10" data-buildable="323%2C640" data-airRights="323%2C640" data-propertyNeighborhood="Murray%20Hill" data-latitude="40.7474038288867" data-longitude="-73.9714110363193" data-moreList="%5B%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FviewOnMap.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F685-1-Avenue-New-York-NY-10016%5C%2F1009450023-0%22%2C%22urlLabel%22%3A%22View%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2Fownership.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F685-1-Avenue-New-York-NY-10016%5C%2F1009450023-1%22%2C%22urlLabel%22%3A%22View%20Ownership%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FleaseComps.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Ftherealdeal.com%5C%2Fnew-research%22%2C%22urlLabel%22%3A%22TRData%22%7D%5D" data-articleList="%5B%5D" rel="noopener">685 First Avenue</a> and Sheldon Solow

685 First Avenue and Sheldon Solow

Reclusive billionaire developer Sheldon Solow filed plans to build a 42-story mixed-use tower adjacent to his long-vacant development site along the East River, records show.

The owner of one of the city’s most expensive office buildings, 9 West 57, and a portfolio of East Side rental towers, Solow submitted plans to build a 700,000-square-foot apartment tower with 550 units at 685 First Avenue, according to an application filed with the Department of Buildings Friday.

The site, currently home to a parking lot, sits across First Avenue from a six-acre lot Solow bought from Con Edison in 2005 for  $109 million.

Plans call for roughly 10,000 square feet of commercial space, including retail, and another 56,000 for manufacturing.

Solow owns a number of sites along the East River that had figured into his $4 billion redevelopment plan for the area. He’s sold off portions in recent years.

In 2010, Solow sold a site at the northeast corner of First Avenue and 35th Street to the city’s School Construction Authority for $33.25 million.

He also sold the remaining portion of that full block in 2013 for $172 million to JDS Development, which is constructing the 800-unit 626 First Avenue on the property.

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