With permits in place to demolish six East Village buildings on the west side of Third Avenue between 10th Street and 11th Street, we have our first look at a rendering for the new development...
A reader shared this from the State Building Group
website, the Toronto-based real-estate company behind this project.
The address — 50-64 Third Ave. — is listed under the company's "residential" portfolio. (At first glance, the building looks more commercial/office. We reached out to confirm the residential use and other details, such as number of units.)
Here's the information included with the listing:
50-64 3rd Avenue is a 6-building assemblage located at the nexus of the East Village, Greenwich Village and Astor Place. The site allows for 160,000 sq. ft. of new construction and has a land area of 16,500 sq. ft. Construction is expected to commence in late 2023.
Late 2023 seems ambitious for a start date. So far, there aren't any new building permits on file with the Department of Buildings. In addition, the existing buildings are still awaiting demolition.
In late August, according to Straus News, which publishes several local weekly newspapers and associated websites, including Our Town — Eastsider, a spokesperson for the DOB said "that outstanding objections" have interrupted the developer's plans.
However, there are new/updated demolition permits on the DOB website dated Sept. 6 and Sept. 12.
As PincusCo. first reported in May, Kinsmen Property Group — a joint venture between State Building Group and another Toronto company, Madison Group — has been buying the walk-up buildings over the past two years, paying more than $60 million for the parcel.
Most of the retail spaces in the properties were already closed, including, most recently, the Ainsworth on the SW corner of 11th Street in July 2022. (No. 62 was home to New York Central Art Supply for decades until its 2016 closure.)
Only one building will remain on the block after the demolition — 48 Third Ave., the 4-story property owned by Isfahany Realty Corp. on the northwest corner at 10th Street with Healthy Greens Gourmet in the retail space.