Converted former brewery in Murray Hill opens lottery for 28 apartments, from $940/month
Credit: NYC Department of Housing Preservation and Development
A former brewing company headquarters in Murray Hill, later converted into medical offices, has been reimagined once again. Now a residential development, the building at 650 First Avenue opened a housing lottery for 28 mixed-income apartments. The 11-story building first served as the Kips Bay Brewing Company’s headquarters more than 120 years ago, and has been transformed by developer Lalezarian Properties into 111 residences, according to CityRealty. New Yorkers earning 40, 80, and 100 percent of the area median income can apply for the units, priced from $940/month studios to $3,290/month two bedrooms.
Designed by Ismael Levya Architects, the office-to-residential conversion project involved the interior overhaul of the commercial building and the construction of four new stories above its parapet, raising its height to 125 feet, as reported by Yimby. The building features a seven-story pre-war base with a new four-story glass addition.
The building was constructed in 1904 as the headquarters of the Kips Bay Brewing Company, which survived Prohibition and remained in operation until 1947. After the brewery closed, the property was converted into office space, and in the early 2000s, it housed NYU Langone Health’s internal medicine offices.
In April 2023, Lalezarian Properties purchased the building for $33.5 million with plans to convert it into a mixed-use property with a residential component. The conversion altered only the building’s southern wing.
All residences feature keyless entry, high ceilings, stone and wood flooring, kitchens with dishwashers, LED countertop lighting, and stainless steel appliances. Bathrooms include Kohler fixtures, and units are equipped with central heating and air conditioning, as well as in-unit washers and dryers, according to CityRealty.
Amenities include a 24-hour attended lobby, bicycle storage, a fitness center, two resident lounges, and a roof deck with sweeping river views.
Nearby public transit options include the M15, M15+, and M34+ bus routes, as well as the NYC Ferry at the East 34th Street stop.
Qualifying New Yorkers can apply for the apartments until February 18, 2026. Complete details on how to apply are available here.
Questions regarding this offer must be referred to NYC’s Housing Connect department by dialing 311.
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