New Empire eyeing 130-unit Kips Bay condo plan

Bentley Zhao is furthering his footprint in Kips Bay. The chair and chief executive officer of New Empire Corp. filed demolition permits for four four-story buildings spanning 247 East 31st Street and 563, 567 and 569 Second Avenue, Crain’s reported. The clearing will pave the way for a 14-story condo project with about 130 units and ground-floor retail. The filings come a month after Zhao, through Nere Rose Hill Management, paid $37.9 million for the properties. Leslie Ling, a senior development manager at New Empire, told the outlet the firm is targeting a fourth-quarter 2029 completion for the project, though […] This article originally appeared on The Real Deal. Click here to read the full story.