952 Second Avenue

[londonlawyer]

This building and other adjacent tenements are empty. I hope that they will be razed. Does anyone have information?

[daver]

Corcoran lists it as recently sold: http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=779815


952 Second Avenue
Cross st: 50th & 51st St.
Area: Sutton

Non-landmarked c. 1900 4 story plus basement mixed-use building. This walk-up building is on the east side of Second Avenue between 50th and 51th Streets and is on a 20' X70' lot in a C1-9 zone. It contains approximately 3,840 square feet including 3 residential apartments - 2 fair market and 1 rent controlled - one commercial store with basement and office.
http://www.corcoran.com/images/media/BldgPhotos/57782.1.jpg http://www.corcoran.com/images/media/BldgPhotos/57782.2.jpg

[londonlawyer]

Thanks for posting that. This is a classic example of what I call crap/mierda. If one looks at the building to the left, it still has ornamentation and would be quite nice if cleaned. However, the ones that were sold were stripped of their details and look lousy like the buildings across the street on 49th and 2nd. Therefore, I hope that demolition will occur.

[macreator]

Kramer's has been closed for close to a year.

[sfenn1117]

Found this on Karl Fischer's website (recently updated). It says Brooklyn but I'm pretty sure it's this site.

http://i9.tinypic.com/61xmtms.jpg

http://i14.tinypic.com/4lde89v.jpg

[antinimby]

That's the shortest "28" story building I've ever seen.

[antinimby]

Looks like they just updated the rendering for this project again.

This one looks more like the correct rendering than the one sfenn posted above.

http://img259.imageshack.us/img259/7389/9522avemv9.jpg

[sfenn1117]

^There you go. Looks alright aside from the blank wall.

[Derek2k3]

oops!

[antinimby]

^ Not sure if that site is for this project. Might be for an entirely different project.

[antinimby]

The Kramer's building (952) is now gone. Looks like this one next door (948) with the boarded up windows will be demo'd soon as well.

http://img232.imageshack.us/img232/950/img0056bd6.jpg

[londonlawyer]

^ Not sure if that site is for this project. Might be for an entirely different project.

I agree. This appears to be on Lex around 39th.

http://farm2.static.flickr.com/1424/1208039747_a1d15147b5_o.jpg

[Derek2k3]

Thanks anti.. Don't know why I posted those here.
This is the thread for that.

http://www.wirednewyork.com/forum/showthread.php?t=14747

[antinimby]

^ No problem, that happens to everyone.

Looks like the 'developer' just flipped the site and made a nice profit, too:
$30M Condo Site Changes Hands


Last updated: October 3, 2007 (http://www.globest.com/news/1005_1005/newyork/164642-1.html) 09:13am

NEW YORK CITY-A residential development site with plans for nearly 72,000-sf luxury condominium at 948-952 Second Ave. in Midtown East was sold in a transaction valued at $30 million. A source close to the deal tells GlobeSt.com that the buyer was Michael Kornblum on Manhattan and the seller was David Angel of locally based Angel Group.

The 60-by-70 property is on the east side of Second Avenue between East 50th and East 51st streets. A total of 24,757 sf of air rights were purchased from neighboring buildings, which brought the buildable square footage up to 71,832 sf. As a result of the nearby purchase, the project can cantilever over the existing building at 954 Second Ave., thereby increasing its width from the fifth floor up. Massey Knakal Realty Services was the sole broker in this transaction.

“The seller made the original purchase for $17.5 just over a year ago with five rent regulated tenants,” explains Massey Knakal broker Clint Olsen, who exclusively represented the seller along with broker Michael Harari. “After vacating three of the remaining five tenants, ownership took the site to market in an effort to capitalize on the strong development market.”

The source tells GlobeSt.com that David Angel chose to sell now because of the market, which in a year, gave the seller a $12.5-million profit. The purchasers of site were able to average down the price/buildable square footage through the procurement of 14,000 sf of inclusionary air rights. The property sold for $416.67 per buildable sf.

Copyright © 2007 ALM Properties, Inc.

[MidtownMike]

Does anyone have an update on what's going on here? I assume it's tied up in insurance/litigation with the rest of the block? I see construction types milling around the area from time to time, but no real work seems to be getting done.