201 East 74th Street: Renderings courtesy of Premier Equities
Earlier this week the New York Observer reported that Thor Equities and Premier Equities are moving forward with plans to build a 31-story condominium at 1297-1299 Third Avenue (201 East 74th Street) on the Upper East Side. We uncovered two small renderings on Premier’s website showing a soaring Art Deco-styled tower where mid – to upper-level buyers will likely enjoy views of Central Park.
A street-level rendering shows that three tenements will be removed from the corner site. Premier closed on the purchases of all three buildings in recent years, with 1297-1299 Third Avenue closing earlier this month for $26 million per the Observer. The corner building at 1291 Third Avenue houses the restaurant JG Melon whose hamburgers Michael Bloomberg, Bobby Flay and Danny Meyer all praised as one of the best in the city. A scene with Meryl Streep and Dustin Hoffman for the 1979 film Kramer vs. Kramer was also filmed in the restaurant. Other businesses at the base of the tenements include the bakery Francois Payard (already closed), the Italian restaurant Mezzaluna and Manhattan Shade & Glass who recently relocated to East 38th Street.
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Early last year, a story from Crain’s New York announced that Premier is looking to sell the five-building assemblage and its accompanying air rights. Altogether, the development site holds approximately 115,000 square feet in development rights. The development site is located a short walk east from Central Park and Museum Mile properties are all located between East 74th and East 75th Street, and a relatively one avenue over from the Second Avenue Subway’s East 72nd Street station.
From R to L: 1291 Third Avenue, 1293-1295 Third Avenue, 1297-1299 Third Avenue; Google Streetview
Google Earth View of 201 East 74th Street via CityRealty
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