Minrav Development files plans for 50-unit mixed-use building in Gramercy

Minrav Development, on February 10, filed a permit application for construction of a 50-unit, 55,321-square-foot residential building at 305 First Avenue in Gramercy. Yehuda Mor, managing director at the firm, filed the plans.

The plans call for the construction of a 116-foot-tall, 10-story mixed-use building.

The project is described in the filings as: construct new ten-story mixed-use building as per plans filed.

The ground floor of the building will have retail space, per the plans. Floors two through five will each have seven dwelling units per floor, floors six through nine will each have five dwelling units per floor, while the 10th floor will have two dwelling units. The cellar and roof will both have recreation space.

SLCE is listed as the architect.

The property was acquired with 4 other properties for $28.5 million on February 5, 2020. The other three properties have the addresses 307 1st Avenue, 309 1st Avenue, and 311 1st Avenue. Bank Leumi provided an $18.3 million acquisition loan to Minrav to facilitate the purchase from CIM Group.

According to reports, the building will be a condominium and there is a second building plan in the works.

Direct link to Acris document. LINK

Direct link to DOB document. LINK