Posted Oct 25, 2024, 3:05 PM
|
 |
New Yorker for life
|
|
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 53,010
|
|
https://www.costar.com/article/24250...tion-milestone
Mixed-use tower set to redraw Manhattan’s skyline reaches construction milestone
Luxury condos are 72% sold while office leasing began in September, developer says
By Andria Cheng
October 24, 2024
Quote:
A tower set to become the tallest mixed-use building on Manhattan’s Fifth Avenue, and the second tallest on the famed stretch after the the Empire State Building, has reached the construction milestone of hitting its full height.
The 1,002-foot 520 Fifth Ave., between West 43rd and 44th streets and near the Grand Central Terminal transit hub, is expected to be completed in 2025, developer Rabina, a New York-based, family-owned real estate investment firm, said in a statement. The tower is expected to feature 88 floors of luxury condos, top-tier offices, a private club, and a 3,500-square-foot retail space.
The property’s residential portion, which began selling in April and includes 100 new luxury condo units rising at least 440 feet above ground, is 72% sold, Rabina’s Senior Vice President and Head of Development Ian Klein said in an interview on a tour of the property Wednesday. Condo prices for units from one to four bedrooms range from below $2 million to over $20 million each, he said.
|
Quote:
The residential space will start on the 42nd floor of the roughly 450,000-square-foot building and span the top 40 stories, Rabina has said. The 88th floor at the very top of the building will be used as amenities space for residents featuring a glass-walled solarium, lounge, dining room, library, and game and billiards room with 360-degree views of New York’s landmarks from the Empire State Building and the Chrysler Building to Bryant Park and Central Park.
The office portion, which will include 25 full floors of Class A office space below the residential floors, began leasing in September. “We're negotiating quite a few” office leases, Klein told CoStar News, adding “it’s been going very well.” He declined to specify the asking rents and other details.
...The private club will span a total of five floors, including three above ground and two below, Klein said. The retail leasing has yet to begin, he said.
|
https://costar.brightspotcdn.com/dim...nt-my-shot.jpg
https://costar.brightspotcdn.com/dim...-studios-5.jpg
__________________
NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
|
Prev
Linear Mode
