East 74th Street via Google Maps
A new massive Upper East Side development is underway from Thor and Premier Equities. Located on Third Avenue, the development will be comprised of three five-story buildings that will be renovated into 31-story towers.
Back in 2014, the developers spent $15 million on 1293-1295 Third Avenue and the following year they also purchased 1291 Third Avenue. The most recent purchase was for $26 million at 1297-1299 Third Avenue. All of the sites are located between East 74th and East 75th Street, just a short walk to the Second Avenue subway.
The developers plan on starting to construct condos on the site they most recently purchased and then move onto the other buildings, converting them all into condos– 37 apartments in total for the overall project.
Although not much else has been revealed for this massive residential plan, but the developers also unveiled their plans to create retail space on the ground floors of the existing buildings. In fact, one of the pubs, JG Melon, has already made a deal with the developers to keep their business going, but as for the other existing retails, nothing is yet certain.