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A blog from CityRealty (Links below will take you to the 6sqft site)

Features

A new rendering released for a mixed-income rental tower coming to 345 East 33rd Street in Kips Bay (Credit: GF55 Architects) A new rendering released for a mixed-income rental tower coming to 345 East 33rd Street in Kips Bay (Credit: GF55 Architects)
In September 2015, Michael Heletz of Excel Development Group began acquiring a row of five walk-up residential buildings at 339-345 East 33rd Street in Kips Bay, a stone's throw from NYU Langone Health. Once the assemblage was complete, demolition permits were filed and a rendering by GF55 Partners surfaced, depicting an as-of-right design for a 12-floor residential building with a cantilevering upper section.
Seeing more potential in the development site, Excel submitted a request to the city (pdf) to upzone the site in order to build a ground-up 230-foot-tall, 23-story rental tower. The conceived project would be similar in height to the 1999-finished rental The Lanthian, and the I.M. Pei-designed Kips Bay Towers across East 33rd Street.
 
 
 
 
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345 East 33rd Street
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345 East 33rd Street 67
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345 East 33rd Street 52
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345 East 33rd Street 02
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345 East 33rd Street 04
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345 East 33rd Street 52
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The rezoning was approved in August 2018, changing the existing zoning from R8A to C1‐9A, therefore giving Excel the green light to erect a new building that would span 142,550 gross square feet (GSF), which includes the incorporation of 16,453 SF of development rights from an adjacent lot.

While construction permits have not yet been filed, a new rendering has surfaced showing us a new degsign by GF55 Architects. The new building will have approximately 10,000 square feet of ground-floor retail with 115 apartments above. The project would comply with the Mandatory Inclusionary Housing (MIH) program whereby 25.8% of its floor area will be earmarked for affordable housing, resulting in approximately 40 affordable dwelling units.
The rendering posted on the architects' page shows the project will maintain the dynamic cantilevering flair of the original as-of-right design, while through the use of bright colors, will add some pop to a rather drab post-war corner of Manhattan.
The site of 345 East 33rd Street (center-right) in late June 2022 (CityRealty)

Additional Info About the Building