543 Second Avenue

Image: GMAP

A new 12-story building has been proposed for 543 Second Avenue in Kips Bay.

Located on the corner of East 30th Street, across from Fairway Market, the building would have 18 apartments, according to the plan exam application filed January 31st. The architect of record is 5D Architecture & Engineering; the developer is Shalimar Management.

The planned 18,667-square-foot development has a first-floor eatery and a duplex penthouse on the top floors. The building, rising on a vacant lot, is using the air rights from an adjacent structure.

The property traded in December 2013 for $5 million, according to public records.

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