DDG Seeks to Raze UES Buildings


1558 Third Avenue.
1558 Third Avenue.

Real estate investment and development company DDG is looking to demolish two buildings on the corner of East 88th Street.

DDG picked up the properties, 1558-1560 Third Avenue and 180 East 88th Street, which have rear lots that connect with one another, from Muss Development for nearly $70 million in the last quarter of 2013. The site houses two vacant five-story apartment buildings.

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DDG has filed a request for a permit with the city’s Department of Buildings to demolish the existing structures.

As Crain’s previously reported, DDG could build about 130,000 square feet of development, including 117,000 square of residential space.

Helen Hwang and Nat Rockett of Cushman & Wakefield (CWK) marketed the property and DDG CEO Joe McMillan negotiated the deal on behalf of his firm, Mr. Rockett said.

DDG declined to comment.