A five-story walk-up apartment building at 1162 Second Avenue was recently purchased by the Michigan-based Dart Development Group, which is planning a new-construction condominium on the site. The building, at the corner of 61st Street and Second Avenue, was marketed with rights that allow the site to support 45,812 square feet of residential development. The sale closed for $17.2 million.
It has been reported that the Dart Group plans to build a new 14-story luxury condominium on the site.
