The busy architects over at Issac & Stern posted on their website an image of a yet-to-be-built 19-story tower at 378-380 Third Avenue in Kips Bay. Their page indicates the building will be residential and commercial and will encompass approximately 61,000 square feet of floor area. The development would replace two existing five-story walk-ups that each contain well-regarded drinking and eating establishments. The ground floor of 378 Third Avenue is occupied by the east side branch of the highly rated Italian restaurant Coppola’s Trattoria, and next door at 380 Third Avenue, the ground floor is occupied by the bar Tavern on Third, which hails itself as one of the best Chicago Bears bar in New York City.
No demolition or construction permits have been filed for either lot, and according to city records, they are owned by the LLCs 378 Third Avenue Associates and Third and Twenty Eight. This stretch of Third between 23rd and 34th Streets has avoided Midtown South’s condo-mania. However, just one avenue over, HFZ is wrapping up construction on the condo conversion of two rental buildings at 88 and 90 Lexington Avenue with prices ranging from $1.9 to $4.4 million and averaging $2,000 per square foot based on current listings.
Follow updates on 380 Lexington Avenue at CityRealty.
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