Manocherian Brothers files demo plans ahead of 148-unit building in Lenox Hill
1352 First Avenue (Credit - Eran Chen architect via DOB)
Manocherian Brothers filed three demolition plans to take down three buildings near the intersection of First Avenue and 73rd Street ahead of a 148-unit building planned for 1352 First Avenue in Lenox Hill, Manhattan.
The filings dated December 10, 2024, are for the 16-unit, 8,000-square-foot building at 1354 First Avenue (M01149834), the 10-unit, 5,148-square-foot building at 402 East 73rd Street (M01149837) and the six-unit, 8,000-square-foot building at 1352 First Avenue (M01149670).
The demolitions are to make way for a 23-story, new construction tower. Manocherian Brothers through the entity First & 73 LLC submitted a new building construction project dated November 26, 2024, for a 148-unit, residential (R-2) building at 1352 First Avenue in Lenox Hill, Manhattan. The plan was filed with the New York City Department of Buildings under job number M01140296. It calls for the construction of a 23-story building. The project is described in the filing as: application filed herewith for new 23-story residential building with retail on first floor. Brian Broxmeyer of Manocherian Brothers filed the plans. The architect is ODA Architecture.
1352 First Avenue ZD1 pdf
1352 First Avenue
| wdt_ID | floor | comment | description | persons_permitted | occupancy_label | zoning_use | dwelling_units |
|---|---|---|---|---|---|---|---|
| 1 | Cellar | FIRE PUMP ROOM,ARC ROOM,ELECTRICAL ROOM,COMPACTOR ROOM,LAUNDRY ROOM | Mechanical and/or electrical equipment room | 11 | Factory and Industrial | ||
| 2 | Cellar | JANITOR'S STORAGE ROOMS #1 & 2,BICYCLE STORAGE,RESIDENTIAL STORAGE | Storage of non combustible Materials | 7 | Storage | ||
| 3 | Cellar | ACCESSORY TENANT'S AMENITY ROOM. | Apartment | 17 | Residential | ||
| 4 | Cellar | ACCESSORY TENANT'S RECREATION ROOM. | Apartment | 11 | Residential | ||
| 5 | 1 | RETAIL STORE | Retail Sale | 60 | Mercantile | ||
| 6 | 1 | RESIDENTIAL LOBBY,PACKAGEMAIL ROOM(2 PERSONS). | Apartment | 0 | Residential | ||
| 7 | 1 | ACCESSORY TENANT'S COURT YARD | Apartment | 10 | Residential | ||
| 8 | 2 | FOUR (4) CLASS A MDL APARTMENTS. | Apartment | 0 | Residential | 4 | |
| 9 | 2 | TWO (2) CLASS A MDL APARTMENTS WITH PRIVATE ROOF TERRACE(ADD. LIVE LOAD 60; 5 PERSONS) EACH. | Apartment | 0 | Residential | 2 | |
| 10 | 2 | ELECTRICAL CLOSET & REFUSE ROOM. | Apartment | 0 | Residential | ||
| floor | comment | description | persons_permitted | occupancy_label | zoning_use | dwelling_units |
The property
The zoning is C1-9 which allows for up to 2 times floor area ratio (FAR) for commercial and up to 10 times FAR for residential with inclusionary housing.
Prior sales and revenue
Manocherian Brothers paid $14 million on February 14, 2019 for 1352 First Avenue, and paid $2.8 million on October 26, 2020 for 402 East 73rd Street. The Manocherian family has owned 1354 First Avenue since Amir Manocherian bought it June 10, 1966, from Fred Gladstone for an undisclosed amount, but subject to a purchase money mortgage of $5,911.
Violations and lawsuits
According to city public data, the property has received $100 in OATH penalties in the last year.
There were no lawsuits or bankruptcies filed against the property for the past 24 months.
The neighborhood
In Lenox Hill, The bulk, or 34 percent of the 53.3 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 30 percent of the space. In sales, Lenox Hill has the highest sale turnover among other neighborhoods in the city with $3.7 billion in sales volume in the last two years. For development, Lenox Hill has near average amount of major developments among other neighborhoods and is the 9th highest in Manhattan. It had 3.2 million square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space.
The block
On this tax block, PincusCo has identified the owners of 10 of the 20 commercial properties representing 626,022 square feet of the 771,228 square feet. The largest owner is Chestnut Holdings, followed by Eberhart Brothers and then Elh Mgmt.. On the tax block, there was one new building construction project filed totaling zero square feet. It is a 148-unit residential (R-2) building submitted by Brian Broxmeyer with plans filed November 26, 2024 and it has not been permitted yet.
The owner
The owners according to the Department of Housing Preservation and Development includes Jeffrey Manocherian, head officer and Elvin Azzopardi, site manager. The business entity is Supreme Company I Llc.
The surrounding
Within a 400-foot radius of 1352 1 Avenue, PincusCo identified two commercial real estate items of interests occurred over the past 24 months. One of those two items was a sale which Frank Pecora bought the 7,200-square-foot, 14-unit rental (C7) on 1365 1st Avenue for $5.7 million from Gianpietro Pecora on December 5, 2023. One of those two items was a loan which Icon Realty Group borrowed $9.6 million from Series 2019-Icon secured by the 15,761-square-foot, 29-unit rental (C7) on 1384 1st Avenue on June 12, 2024.
Direct link to the property’s ACRIS page and link to DOB NOW portal.