Extell Development, on June 28, filed a permit application for the demolition of a building at 171 East 86th Street in the Upper East Side.
It is unclear what the developer plans to do with the site, and did not immediately respond to requests for comments. The site had been occupied by retail stores including Papaya King, which had been in trouble for some time, per a report.
The property was acquired for $21 million on November 30, 2021. Extell purchased the site through an anonymous LLC at the time, the same LLC that was used to file these demolition plans.
Extell has several active developments in Manhattan currently, including a 479-unit, 364,239-square-foot mixed-use building at 180 East 125th Street in East Harlem and a 541,428-square-foot hotel building with 1,350 rooms at 740 Eighth Avenue in Times Square.
The plans call for the demolition of a single-story commercial building.
The project is described in the filings as: full demolition of one story structure, using hand held and mechanical means to assist with structure removal, back-fill site, and load out debris.
Direct link to Acris document. LINK
Direct link to DOB document. LINK