2 UES Buildings To Be Torn Down For Condos: Report

UPPER EAST SIDE, NY — Developers have purchased two adjacent apartment buildings on the Upper East Side and have shared plans to demolish them and build condos, Crain's New York Business reported.

Both 1527 and 1531 York Ave. were purchased for $17.5 million by development firms GCRE and Visabe Corp., through the entity 1527 Prop Co LLC, according to Crain's.

Subscribe

The buildings, which are both three stories high, are on the corner of East 81st Street.

Each building has a first-floor retail space — Sapphire Nails & Spa and Om, an Indian restaurant.

Salomon Cojab, the director of Visabe, told Crain's that the demolition would make way for a roughly 61,000-square-foot condo project.

No word on a construction timeline yet.

To read the original story, click here.

For questions, email Miranda.Levingston@Patch.com.