NEW YORK | 842 7th Avenue | 464 FT | 40 FLOORS

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What will be replaced:

A 29-story, mixed-use building is set to replace two smaller ones at 842 Seventh Avenue, on the corner of West 54th Street, a few blocks south of Central Park.

New building applications were filed last Friday for the 338-foot-tall structure. It will host 54 apartments across 74,063 square feet of residential space, and average units will be a spacious 1,371 square feet.

Retail will occupy the first six floors, filling 38,236 square feet. The seventh floor will be devoted to recreation space, and then the eighth through 19th floors will have three units each. There will be just two units a piece on the top ten floors, followed by a roof deck.

There are lawyers listed as the developer on the permits and as the owner on the deeds. But the signer on the deed is Robert Scharf, an executive vice president at Edison Properties.

Issac and Stern, whose work can be found from Bed-Stuy to the Upper East Side, will handle the design.

Edison picked up the lot at the corner of 54th Street and 7th Avenue for $24,500,000 in 2007. And then using a different LLC, they paid $36,700,000 last year for smaller lot next door at 846 Seventh Avenue.

The 7,500-square-foot site is currently home to two buildings – a six-story residential building with stores and a narrow, three-story commercial building.

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NYY