NEW YORK | 563-569 Second Avenue | FT | 14 FLOORS

New York Proposed
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New Empire Corp. to build 130 condos on $37.9M Kips Bay assemblage

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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.

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More recently, permits to demolish the four-story walk-up buildings currently on the site were filed at the beginning of June 2026. Permits for a replacement have not yet been filed, but renderings depict a tall mixed-use building with a pale facade, floor-to-ceiling windows, curved windows on a corner, and terraces on the uppermost levels.

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