567 Second Avenue
567 Second Avenue, New York, NY 10016
BBL 1009120031 · BIN 1020049
- Type
- Condominium
- Landmark
- No
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 567 Second Avenue would likely sell for today, what it costs to sell, and what you’d walk away with — reviewed personally against condition, exposures, renovation quality, and the competition actually on the market.
567 Second Avenue is a 134-residence condominium planned for the northwest corner of Second Avenue and East 31st Street. At 14 stories and more than 100 homes, it is a mid-sized project: larger than the boutique condominiums of 20 to 65 homes now being built in Kips Bay and Murray Hill, and well below the tower scale of Midtown.
The sponsor, New Empire Corp., bought the four-building assemblage from the Marchi family in January 2026 for a reported $38 million. That is about $284,000 per planned residence in land cost, before construction.
What's planned
Renderings published in July 2026 show a cubic massing for the lower ten floors, with cutouts at the corners and center of the top four stories. The facade combines floor-to-ceiling windows and beige paneling, with rounded edges and curved glass panels, and the pattern tapers from a dense grid at the north and west ends to larger glass at the main corner. Published reporting expects the residential lobby on East 31st Street and retail entrances on Second Avenue.
Plans call for 134 condominium residences and ground-floor commercial space. The DOB filing shows the same count of 134 dwelling units. No unit mix, amenities or interior designer have been announced. Confirm the unit mix and amenity list in the offering plan once filed.
Timeline and filings
- January 2026: New Empire Corp. acquires the assemblage for a reported $38 million.
- February 2026: Full-demolition applications filed for the four-story buildings.
- July 2, 2026: DOB approves the full-demolition applications.
- July 17, 2026: Rendering published; completion targeted for fourth quarter 2029.
- July 30, 2026: Interior-demolition applications filed; permits issued in early August.
- September 4, 2026: New-building application filed with DOB (14 stories, 134 dwelling units), along with a support-of-excavation filing. Both were in objections status in early October 2026.
Offering and pricing
No condominium offering plan has been accepted by the New York State Attorney General as of October 2026, and no pricing has been published.
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What would your apartment rent for?
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Buying here? Condo closing costs with a mortgage typically run 3 to 6% of the price. See NYC co-op and condo closing costs, line by line.
What to know if you’re buying
Reservations before plan acceptance are non-binding. A reservation holds a place in line and can be changed or cancelled by either side until contracts are signed.
The plan must be accepted before contracts. The offering plan filed with the Attorney General sets prices, the unit list, the budget and closing conditions. At 134 units, the plan will also describe the commercial space and how shared costs are divided.
Deposits are held in escrow. Sponsor deposits typically run 10 to 20 percent of the price and are held by the sponsor's attorney until closing.
The buyer customarily pays transfer taxes. In sponsor sales the buyer pays New York State and New York City transfer taxes, and the mansion tax applies to purchases of $1 million and above, rising in tiers at $2 million and above.
Closing occurs on a temporary certificate of occupancy. A temporary certificate of occupancy (TCO) allows residents to move in while final sign-offs are pending. Closings of individual units usually follow the TCO.
Budget, common charges and tax abatement are set in the plan. Projected common charges, real estate taxes and any abatement appear in the plan's budget. No abatement has been announced.
Timing. Completion is reported for fourth quarter 2029, more than three years from now. Construction schedules on a new-building application still in plan review commonly move.
Comparable buildings
- 609 Second Avenue — Nolen, an 18-story Kips Bay condominium of 65 homes
- 34 East 35th Street — The Morgan, a 137-residence Murray Hill condominium
- 218 Madison Avenue — 25-residence Murray Hill condominium, offering plan filed August 2025
- 305 First Avenue — The Florian, a 54-home Gramercy condominium completed in 2025
- 114 East 25th Street — Armorie, a Flatiron loft-condominium conversion of about 20 homes
More Gramercy buildings
- 340 East 23rd Street (Gramercy Starck) — 2007 condominium
- 350 East 18th Street (The Florian) — 2025 condominium
- 382 Second Avenue — co-op
- 385 First Avenue — condominium
- Nolen (609 Second Avenue) — condominium
- Stuyvesant Town / Peter Cooper Village — 1947 co-op
The neighborhood
For the full corridor — architecture, transit, and pricing across Gramercy — read The Roebling Team Guide to Gramercy.
How to read the facts on this page. Items attributed to an offering plan describe the building as it was offered at that filing — unit mix, square footage, the amenity program as planned. They are not a statement about how the building operates today. Tax and compliance figures are sourced separately to current City records and carry their own dates. House rules, staffing and fee policy can change by board resolution without any public filing: treat every policy line here as a starting point for diligence and confirm it with the managing agent. Where this page compares one building or neighborhood to another, that is our analysis of the recorded record — it names the measure, the period and the sample it rests on, and it is an observation about medians rather than a prediction about any particular apartment.
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