New Empire Corp. to build 130 condos on $37.9M Kips Bay assemblage
Bentley Zhao, chairman and CEO of New Empire Corp., filed permits with the Department of Buildings this week to demolish four 4-story Kips Bay buildings located at 247 E. 31st St. and 563, 567 and 569 Second Ave., records show. He has not yet submitted the paperwork for the new building. However, Leslie Ling, the company’s senior development manager, told Crain’s that New Empire is planning a 14-story project with ground-floor commercial space and about 130 condo units on the upper floors. Ling said the firm expects to complete the new development by the fourth quarter of 2029.
The existing buildings, all located between East 31st and East 32nd streets, contain a total of 60 residential units, none of which are available.