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Real Estate Firm Acquires 3 Buildings In Manhattan Totaling More Than $120M
The projects are expected to add more than 500 residential units across Manhattan.
NEW YORK CITY —A New York-based real estate development and construction management firm recently purchased three buildings in Manhattan totaling more than $122 million.
The projects are expected to add more than 500 residential units across Manhattan, according to New Empire Group.
The developments include:
567 2nd Avenue — Rose Hill Condominium: Acquired for $38 million in December 2025, the site is planned for a 14-story mixed-use residential building with approximately 134 units. Designed by CetraRuddy, construction is expected to begin in 2027, with completion targeted for 2029. PCB Realty represented the transaction.
10 East 30th Street — Rolls Yacht Club Tower: Purchased for $33.46 million in June 2026, the 7,159-square-foot site is slated for a 29-story residential tower with roughly 100 units, garage parking and luxury amenities. Groundbreaking is expected in 2027, with completion projected for 2029. BKREA represented the deal.
4 West 43rd Street — The Fifth Avenue Tower Condo: New Empire has committed $71 million for the property and accompanying air rights, with the transaction expected to close in 2027. The assemblage is planned to support more than 280,000 buildable square feet and a 50-plus-story luxury condominium with approximately 286 units and ground-floor retail. Avison Young represented the transaction.
"Our recent acquisitions are a signal of confidence – in these neighborhoods, in New York's long-term residential demand, and in our team's ability to execute on projects at this scale," Bentley Zhao, CEO of New Empire Group, told Patch.
