New Empire Group expands real estate development portfolio with $120 million in acquisitions
Manhattan, NY New Empire Group has expanded its real estate development portfolio with three acquisitions totaling more than $122 million: 567 2nd Ave. ($38 million), 10 East 30th St. ($33.5 million), and 4 West 43rd St. ($51 million). Together, the three sites will bring more than 500 new residential units to the market, reinforcing New Empire’s ongoing commitment to delivering high-quality, attainable luxury living.
“New York City residential inventory is more constrained than ever, and New Empire is proud to help meet that need through these new projects, which will add more than 500 units of thoughtfully designed housing to the city’s pipeline,” said Bentley Zhao, CEO of New Empire Group “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.”
• 10 East 30th St.: Rolls Yacht Club Tower. Acquired in June 2026 for $33,458,640, this 7,159 s/f lot allows for 85,133 buildable s/f.
New Empire plans a 29-story residential tower with on-site garage parking and 100 units, finished with luxury amenities. Groundbreaking is expected in Q1 2027, with completion targeted in Q4 2029. The transaction was represented by BKREA.
• 567 2nd Ave.: Rose Hill Condominium
New Empire purchased the site in December 2025 for $38 million. Situated on 11,027 lot s/f with 93,668 buildable s/f, the property is positioned on a 14-story corner lot along the 2nd Ave. retail corridor, with close proximity to the city’s growing healthcare and life-science campus. The mixed-use residential building is planned for approximately 134 units, designed by CetraRuddy. Groundbreaking is expected in Q1 2027, with completion targeted in Q1 2029. The transaction was represented by PCB Realty.
• 4 West 43rd St.: The Fifth Avenue Tower Condo
New Empire’s $71 million acquisition of 4 West 43rd together with accompanying air rights from neighboring properties is expected to close in 2027. The 12,250 s/f inclusive of its neighboring air rights will support more than 280,000 buildable s/f for an ultra-tall luxury residential condominium of more than 50 stories facing Fifth Avenue at the major thoroughfare, with approximately 286 units and ground-floor retail. The transaction was represented by Avison Young.