CW Realty

1361 First Avenue

Developer Plans Cantilevering 33-Story Condominium Tower at 1361-1363 First Avenue, Upper East Side

6:00 am on July 14, 2016 By Reid Wilson

CW Realty is planning to develop a 33-story condominium tower at 1361-1363 First Avenue, located on the corner of East 73rd Street on the Upper East Side. The project is expected to measure roughly 120,000 square feet and is being designed by HTO Architects, the New York Post reported. The number of planned apartments wasn’t disclosed, and it’s unclear whether there will be commercial space included. The new building will cantilever over the adjacent four-story tenement at 1365 First Avenue. CW Realty acquired the four-story mixed-use building at 1361 First Avenue earlier this year for $9.4 million and is in contract to purchase the four-story tenement at 1363 First Avenue. The latter sale is expected to close next year, and existing commercial and residential tenants in both properties are already in the process of relocating. The developer will also transfer air rights to the assemblage from other properties on the block. Demolition permits haven’t yet been filed.

119-123 Kent Avenue

Owners Plan Renovations, Retail Expansion For Four-Story Tenements At 119-123 Kent Avenue, Williamsburg

3:00 pm on January 14, 2016 By Reid Wilson

In 2014, YIMBY revealed renderings for a mixed-use redevelopment of the buildings at 119-123 Kent Avenue, in northern Williamsburg, located three blocks from the Bedford Avenue Station on the L train. Now, Commercial Observer reports CW Realty and Joyland Group have acquired the three four-story tenement buildings for $15.9 million, which measure roughly 15,000 square all together and come with 5,700 square feet of air rights. The new owners plan to combine the three buildings through the first floor and create a 5,625 square-foot retail space. It’s not known if the old proposal is being built, but the properties’ existing 18 total residential units will be renovated. Only two of them are currently occupied (and they are rent-stabilized).

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