https://www.crainsnewyork.com/real-estate/avdoo-plans-residential-project-242-e-71st-st
Manhattan-based real estate firm Avdoo has filed plans with the Department of Buildings to construct a 22-story, 50-unit residential project at 242 E. 71st St., located between Second and Third avenues. The development would span about 172,000 square feet and stand 335 feet tall with ground-floor retail and a parking garage, the filing says.
Avdoo purchased the five sites in February from Gatsby Enterprises, a real estate firm based near Penn Station, for $52 million overall: $10.4 million for 1341 Second Ave. and $41.6 million for 1343-1347 Second Ave. and 242 E. 71st St., according to property records. Gatsby had planned to construct a 21-story building with 121 units on the parcel under New York’s now-expired 421-a affordable housing tax break, according to promotional materials from BK Real Estate Advisors, the Bob Knakal-led firm that had been marketing the property. However, those plans did not come to fruition for unknown reasons.
