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Construction Breaks Ground At 429 Second Avenue In Kips Bay, Manhattan


Ground breaking of 429 Second Avenue. From left to right: Ellen Qian, Founder of One Realty Global, David Fung, COO of New Empire Builder Corp., Joe Morali, Managing Director of Anthony Morali Architect PLLC, Anthony Santiago, COO of New Empire Corp., Paris Forino, Founder of Paris Forino Design, Inc., Bentley Zhao, Chairman & CEO of New Empire Corp., Robin Mui, CEO at Sing Tao Newspapers NY Ltd (1105.HK), Wayne Norbeck, Partner of DXA Studio, Shaun Osher, Founder and CEO of CORE, Kannon Tam, Executive Vice President of New Empire Builder Corp., Shelby Chan, Senior Development Manager of New Empire Corp., Calvin Chan, CIO of New Empire Corp., Leslie Ling, Vice President of Development of New Empire Corp.


BY: VANESSA LONDONO 7:00 AM ON MAY 24, 2023

This week CORE Real Estate held a groundbreaking ceremony for 429 Second Avenue, a 12-story residential building in Kips Bay, Manhattan. Designed by DXA Studio with amenity spaces by Paris Forino and developed by New Empire Corp., the 150-foot-tall development will yield 44,571 square feet with 59 units measuring 755 square feet apiece. The property is located between East 24th and 25th Streets.


“This project brings highly amenitized living to Kips Bay in a way we’ve not yet seen,” said Shaun Osher, CEO of CORE Real Estate. “We’re catering to a new clientele in Kips Bay, providing joint spaces for work, play, and beyond. We are delighted to lead the sales and marketing of this incredible new residential building.”

Residents will have access to several common spaces, including a building roof deck and garden, coworking space, conference and media rooms, and a fully equipped fitness center with steam room and sauna.

“Community spaces and interconnected living is more important today than ever before, and this one-of-a-kind, custom-tailored project fully realizes that philosophy,” said Bentley Zhao, chairman and CEO of New Empire Corp. “We are thrilled to bring this exciting new project to life with such an incredible, world-class team.”

Construction is expected to be completed in 2025.


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