The property group that owns six East Village buildings between 50-64 Third Ave. has filed permits to demolish the set of buildings stretching over most of the block, according to city filings.
The developer, Kinsmen Property Group, filed plans with the city to level the three-to-five story mixed use buildings between East 10th and East 11th streets located on the west side of the block, as Crain’s first reported. The only building on the block it does not now own is the walkup at 48 Third Ave., owned by Isfahany Realty Corp.
Kinsmen, which Real Estate Weekly reported as being owned by Toronto-based Madison Group and State Building Group, has been buying up the walk-up buildings along the block between East 10th and 11th streets since 2018 for a collective cost of $66.7 million, according to Crain’s.
The apartments contained in the buildings have been vacant for several months, according to East Village news blog EV Grieve. Each of the six buildings had commercial tenants on the ground floor, but most have reportedly closed.
There are, however, two restaurants that remain open that are located in the buildings facing the wrecking ball: Tigerlily Kitchen, an Asian inspired bistro, and Kotobuki, a sushi restaurant with several other locations in Long Island.
The owner of the building Ari Zagdanski, the founder and CEO of Kinsmen, declined to comment about what his plans are for the site.
