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Premier Equities and Thor Equities are joining together to build a six-story residential building with just three condominiums.
The building at 1299 Third Ave. would feature just over 1K SF of commercial space and nearly 21K SF of residential space, according to plans filed with the Department of Buildings, The Real Deal reports.
There are three residences slated for the building, making them nearly 7K SF each, New York YIMBY reports. Earlier reports had suggested Premier and Thor were considering a 31-story, 100K SF residential tower for the site. The plan also involves the lots 1291-1297, which means a tower could still go ahead, according to YIMBY.
Thor, led by Joseph Sitt, is best known for its high-profile retail deals. Last year, the company was looking to sell off some of its extensive retail portfolio. Premier, which is headed by Yaron Jacobi and Uzi Ben-Abraham, owns three adjacent buildings at 1291-1295 Third Ave., according to TRD.
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