
Crews have started digging into the pit at 75 First Ave. between Fourth Street and Fifth Street...

Doing the preliminary work for the foundation of an 8-story condoplex — featuring 22 residences in total.
And please mind the cattle pen and porta-potty set up on the bike lane...

As previously noted, here's what the Colonnade Group has planned for the lot:
Designed by HTO-Architect, the building will rise 8 stories and will stand out with its contemporary and timeless glassy structure. Comprised of 22 residential units, ranging from 1 to 3 bedroom condominiums, 75 I˚ AVE is the ultimate destination for New York sophisticated buyers looking for all the comforts of a high-end residence in a young and dynamic environment.
All of the units will benefit from a number of amenities, including Fitness Center, Lounge and Library, Private and Common Roof Deck, Storage, Bike Storage & Doormanand a no-wait express line next door at Rite Aid.
Still haven't seen the full rendering — just this thumbnail of an image...

And Ryan Serhant's team is responsible for the condo sales... here's a photo of some suits and shovels during the official groundbreaking at No. 75 a few weeks ago...
Previously on EV Grieve:
Developer: A shorter building in the works now for 75 First Avenue
High-rise for 75 First Avenue back in play
Long-stalled First Avenue site now has a brand-new rendering
Report: Long-dormant 1st Avenue development site changes hands
Plywood report and the future of 75 1st Ave. (Spoiler: condos)