Four Upper East Side Buildings To Be Demolished

UPPER EAST SIDE, NY — Plans to tear down four adjacent buildings on the Upper East Side were filed with the city Department of Buildings, public records show.

Real estate development firm Izaki Group Investments filed plans to demolish 308, 310, 312 and 314 E. 86th St., located between Second and First avenues, last week, city records show. The plans have already been approved, according to city Department of Buildings records.

The properties are currently occupied by low-rise buildings, but demolition could lead to a high-rise development. The sites are home to one three-story, two four-story and one five-story building, according to plans filed with the city.

Izaki Group Investments purchased three of the buildings from Extell Development last year, the Real Deal reported. The two development firms cut the deal for $42 million, according to the report. Along with the existing buildings, Izaki Group Investments acquired the rights to build a 210-foot-tall structure with 71,240-square-feet of buildable space, the Real Deal reported.

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