GDSNY files to demolish newly acquired co-op at 417 Park Avenue

The developer GDSNY, on July 8, filed a permit application for the demolition of a building at 417 Park Avenue in Midtown.

The plans call for the demolition of the 12-story, 143-foot tall building.

The project is described in the filings as: full demolition of 12-story building, using hand held and mechanical means to demolish structure, load out debris and back-fill site.

Klövern AB of Sweden and GDSNY paid $184 million for all 29 units in the co-op building earlier this year.

The lot is located within 70-plus blocks that the city rezoned in 2017. The zoning changes allowed developers to construct offices with a floor-area ratio of 25, which is to say larger than 200,000-square-feet.

While no new building plans have been filed, early reports indicated the developers could build a nearly 220,000-square-foot boutique office building on the site.

Once plans are revealed, the joint venture will join others such as JPMorgan, Harry Macklowe, and TF Cornerstone and MSD Partners who have announced large developments in the rezoned area.

Direct link to Acris document.LINK

Direct link to DOB document.LINK