Excavation is underway at 141 East 47th Street, the site of a 35-story residential tower in Midtown East. The 183,310-square-foot project is designed by Ismael Leyva Architects and developed by Silverback Development. The latter was brought on by Hopson Development Holdings, which purchased the parcel for $115 million in December 2019 from the original developers, New Empire Real Estate. Located between Park Avenue and Lexington Avenue, the development is set to yield 200 units and cost $250 million.
YIMBY last reported on the building in late November 2018, when the site still sat vacant and overgrown. At the time, the fate of the original building, which was to stand 49 stories and contain 122 units, was uncertain. Now, photos show machinery busily unearthing the site and gradually descending below street level. Four buildings had to be demolished to make way for the new structure.