Developer plans 33-story cantilevered condominium tower at 1361-1363 First Avenue, Upper East Side

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Pre-demolition 1361-1363 Première Avenue

CW Realty plans to develop a 33-story condominium tower at 1361-1363 First Avenue, located at the corner of East 73rd Street on the Upper East Side. The project is expected to measure approximately 120,000 square feet and is designed by HTO Architects, the New York Post reported. The number of planned apartments has not been disclosed, and it is not clear whether there will be any commercial space included. The new building will cantilever over the four-story building adjacent to 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 building at 1363 First Avenue. This latest sale is expected to close next year, and existing commercial and residential tenants at both properties are already moving out. The developer will also transfer the air rights to the assembly from other properties of the block. Demolition permits have not yet been filed.

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