Real Estate
30-Story Tower Is Coming To The UES: City Filings
A $127 million loan for construction was approved for the building, according to city records.
UPPER EAST SIDE, NY — A developer recently secured more than $127 million in construction loans and filed plans to build a new 30-story apartment building on First Avenue, according to city filings.
The new tower will be located at 1484 First Ave., between East 77th Street and East 78th Street. The apartment building will be 161,373 square feet and yield 88 apartments, according to plans filed with the New York City Department of Buildings.
The building is being developed by Alchemy Properties, which secured financing for the site through two separate loan deals: one for $93,627,093 and the other for $33,572,908, according to the official city register.
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The loan was recorded on March 6 and first reported by Law360. The plans for the new building were filed with the Department of Buildings on March 12. No construction timeline has been released yet.
For questions, email Miranda.Levingston@Patch.com.
Find out what's happening in Upper East Sidefor free with the latest updates from Patch.
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