East 33rd Street Tower
A 23-story mixed-use tower on a five-parcel assemblage in Kips Bay.
- Site
- Five-parcel assemblage, Kips Bay, Manhattan
- Building
- 23 stories · ground-up · mixed-use residential
- Program
- 160 apartments · 14,000+ sf commercial
- Affordability
- 40 units permanently affordable (MIH)
- Zoning
- Rezoned from R8A to C1-9A (approved 2018)
- Tax Abatement
- Grandfathered 421-a — unavailable to any new ground-up project
- Status
- Plans filed · construction targeted Q3 2026
Why this project.
Site Assembled Over a Decade
Five parcels assembled across multiple ownership groups, including air rights from adjacent properties. The assemblage itself is the value — not replicable by other developers on the block.
Rezoning Already Secured
R8A to C1-9A rezoning was approved in 2018 after a multi-year political and community process under Mandatory Inclusionary Housing. Entitlements are in hand — no rezoning risk to underwriters.
Vertically Integrated Execution
Heletz Group self-performs construction across its portfolio. Direct control of GC scope, vendor relationships, and cost discipline — built deal by deal over two decades.
Affordability That Works Economically
40 of 160 units permanently affordable under MIH — structured to align with 421- a tax abatement economics and unlock additional density.
Discuss the opportunity.
Heletz Group works with family offices, institutional investors, and accredited individuals on a deal-by-deal basis. Submit your inquiry and a member of our team will reach out to discuss fit and share project materials directly.
To discuss this opportunity, please email info@heletz.com with a brief note about your interest.