Developer Icon Realty Management has been setting the scene for a mini-takeover of a two-block stretch of Second Avenue on the Upper East Side, and is preparing to bring in the big gunsor rather, cranes. As machines bore the Second Avenue Subway underfoot, the Post reports that Icon is beginning "full bore demolition" on the sites of two future residential developments at a six-parcel assemblage at 1538 Second Avenue between 80th and 81st streets, and at 1562 Second Avenue just one block to the north. Plans were revealed in mid-2014 for a 14-story high-end residential building designed by Isaac & Stern for the site at 1562, but the high-end residential building that will rise on the southern site has yet to be unveiled.
Icon purchased the glut of properties for $44.8 million, plus a $3 million air rights deal, a few years ago. Locals haven't taken kindly to Icon's takeover; as the buildings traded hands, their ground-floor institutionsamongst them Chinese staple Pig Heavenhave shuttered and remained vacant ahead of demolition.
Plans have been filed for the 14-story building at 1562 that will replace the two low-rise buildings at 1562-1564 Second Avenue and bring 11 floor-through apartments plus a duplex to the site. The Post suspects construction will begin on both projects by 2016.
· Ambitious 2nd Avenue project looks to fulfill 70-year-old dream [NYP]
· One Developer May Tower-ize Upper East Side's Second Ave. [Curbed]
· Could This New Pre war-Style Tower Be Rising On Second Ave.? [Curbed]