Chunk Of Upper East Side Block Faces Demolition, Plans Show

UPPER EAST SIDE, NY — A few months after a developer shelled out millions to buy three Lenox Hill buildings, he is moving forward with plans to demolish at least two of them.

Developer Majid Kahen filed plans with the city on Tuesday to tear down the pair of four-story walk-up buildings at 1022 and 1026 Third Ave., between East 60th and 61st streets.

His company, Kahen Properties, paid a combined $33.8 million in July to acquire those two buildings — plus a third adjacent five-story walk-up at 1020 Third Ave., city records show. As of Wednesday, Kahen had not yet filed plans to demolish that building.

The 1020 and 1026 storefronts are now home to Chipotle and the Pan-Asian restaurant Lilli and Loo, respectively, while the vacant retail space at 1022 Third Ave. was most recently home to InVite Health.

Following the company's July purchase, brokers told The Real Deal that Kahen had no immediate plans to redevelop the site, as developers took time to figure out how to finance it after the expiration of 421a: a state program that gave developers tax breaks in exchange for building affordable housing.

The developer's ultimate plans for the site are not clear, though the company is known for its luxurybuildings.

The block's zoning would allow for 12-story buildings to be constructed on the site, The Real Deal reported.