Chess Builders’ 23-Story Rental Tower Climbs at 1655 First Avenue on the Upper East Side

Key Points:

• Chess Builders is developing a 23-story, 198-unit rental building at 1655 First Avenue
•  The project spans 193K SF with ground-floor retail and rooftop amenities
•  Completion is expected in winter 2027 near the Q train at 86th Street

198 Rentals Rising on the Upper East Side

Construction is steadily climbing at 1655 First Avenue, a 23-story residential project at the corner of First Avenue and East 86th Street on Manhattan’s Upper East Side. The development is led by Cheskel Schwimmer of Chess Builders, with design by S. Wieder Architect PC. The two conjoined structures will rise 235 feet and span approximately 193,000 square feet.

Project Scope and Design

The building will deliver 198 rental units averaging 725 square feet.
In addition to residential space, the project includes:

• Ground floor commercial space
• A cellar level
• A 30-foot-long private rear yard
• Rooftop terrace with landscaped amenities

Renderings show a façade defined by large square windows, blue paneling on the lower levels, and light gray cladding above. Stepped setbacks at the southeast corner will create multiple private terraces.

Transit Oriented Positioning

The site is steps from the 86th Street station on the Q train, providing direct access to Midtown and Downtown Manhattan. Transit proximity continues to drive rental demand on the Upper East Side, especially for new construction with modern amenities and elevator service.

Construction Timeline

The reinforced concrete superstructure has already risen several floors above street level, with topping out potentially occurring before the end of spring. Full completion is anticipated in winter 2027.

Why It Matters

Upper East Side development remains supply-constrained compared to other Manhattan neighborhoods. New rental inventory in transit-rich corridors typically commands strong absorption, particularly as elevated condo pricing keeps many residents in the rental market longer. For landlords, 1655 First Avenue represents a mid-scale infill project in a stable, high-income submarket with long-term demand fundamentals.

Final Thoughts

As 1655 First Avenue rises, Chess Builders is adding nearly 200 new rental units to one of Manhattan’s most established neighborhoods. With transit access, retail frontage, and modern amenities, the project underscores continued investor confidence in Upper East Side multifamily development.