https://www.crainsnewyork.com/real-estate/torkian-group-demolish-upper-east-side-development-site
The Torkian Group, which is behind residential towers including The Cameo in Hell’s Kitchen and Solari in Midtown South, recently filed demolition permits with the city’s Department of Buildings for 1382, 1384 and 1386 Second Ave.
The property allows for a developer to construct a mixed-use or residential building spanning about 60,000 square feet with the potential to add air rights, according to a September 2023 announcement from Ariel Property Advisors, which represented the seller in the deal. Its initial asking price was $29 million.
The Torkian Group purchased about $3.8 million worth of development rights from Copperwood spanning from 1382-1388 Second Ave. at the same time it bought 1382-1386 Second Ave. outright, property records show, indicating that the company plans to take advantage of adding air rights to its project.
Existing condition:
