NEW YORK | Prada Tower (720 5th Ave)| FT | FLOORS

[NYguy]

https://commercialobserver.com/2025/...d-prada-tower/

Related In Talks To Build Prada Tower


BY LOIS WEISS
OCTOBER 14, 2025

Less than two years after buying 720-724 Fifth Avenue from deal maestro Jeff Sutton for $835 million, fashion giant Prada is nearing an agreement with Related to build a skyscraper that could be connected to, and use amenities at, the adjacent Aman hotel and residences, sources tell Commercial Observer.

Earlier this year, Prada hired JLL to run a request for proposals process for a development partner.

“They went to the who’s who of the development community,” said a source familiar with the process who wished to remain anonymous. “They wanted a development partner who would also use their balance sheet and have skin in the game.”

After Prada executives met with several developers in Italy, Related CEO Jeff Blau came out on top.

Sources say Blau is currently negotiating with the company to build a 225,000-square-foot tower with the Prada store at its base, the company’s offices above it, and then super luxury residences throughout the rest of the building that could sell for more than $10,000 per square foot.

Others that wanted in include Vornado’s Steve Ross, who built the wildly successful 225 Central Park South, and Marc Holliday’s SL Green, which has partnered with Sutton on other deals. The pair previously co-owned both the 1954-built 724 Fifth and the adjacent, 104-year-old 720 Fifth.

Sutton had previously tapped Bjarke Ingels Group (BIG) to design a tower to replace the buildings, which sit on the northwest corner of West 56th Street, as first revealed by the New York Post in April 2024.
A beef with Prada in December 2019 over the timing of those redevelopment plans — as well as its hefty rent of $22 million a year — led to Prada finally buying the buildings at the end of 2023.

Sutton not only owned those buildings, but he also previously controlled the entire western Fifth Avenue blockfront between West 56th and West 57 streets, including both the Crown Building at 730 Fifth Avenue and the interconnected 3-9 West 56th Street which he bought with General Growth Properties (GGP), Michael Shvo and Vladislav Doronin’s OKO Group in 2014 for $1.75 billion.

The new tower is unlikely to be designed by BIG, since every developer has their favorite starchitect, but it would still likely be sensitive to the gilded crown of the Aman and rise as a very tall, slender tower with single-floor residences.

Prada would also have to relocate its store during the construction.

“They will need to look for really great swing space,” said retail broker Richard Skulnik of Ripco, who was unaware of the tower discussions.

While Prada also has stores on the Upper East Side at 841 Madison Avenue and in SoHo at 575 Broadway, it won’t want to give up its sales in the neighborhood.

“There are opportunities in the area,” observed retail broker Steven Soutendijk of Cushman & Wakefield, who is marketing the 14,000-square-foot former Dior and Cartier space by the Apple cube at 767 Fifth Avenue. Soutendijk was also unaware of the discussions with Prada.

Prada may not have to look far, as there is a 61,536-square-foot space available in the former Henri Bendel store right across East 56 Street at 712 Fifth Avenue.

[NYguy]

Older piece….


https://www.crainsnewyork.com/real-e...igh-rises-822m

Prada buys pair of Midtown high-rises for $822M


MARIO MARROQUIN
January 5, 2024

Luxury retailer Prada Group is betting big on a high-profile Manhattan retail corridor. Public records this week revealed that the Italian company acquired the 15-story 720 Fifth Ave. from Midtown-based real estate firm Wharton Properties as part of an $822.4 million portfolio acquisition that closed in mid-December.

Wharton sold 720 Fifth for $397.4 million Dec. 19, records made public by the city register show. The sale took place just a week after Prada reported in a public filing to the Stock Exchange of Hong Kong, where the company is listed, that it was also buying the 12-story office building at 724 Fifth Ave. from Wharton for $425 million.

The combined lots, using estimates from Prada’s filing to the stock exchange and public disclosures from the city Department of Finance, total 12,553 square feet or roughly 0.3 acres.

https://nypost.com/2023/12/28/busine...ping-corridor/

[NYguy]

https://therealdeal.com/new-york/202...mended-content

Related poised to develop skyscraper at Prada’s Fifth Ave building: report
Jeff Blau reportedly beat Vornado, SL Green for the gig





OCT 14, 2025
Holden Walter-Warner

One of Manhattan’s most-watched sites has been the Fifth Avenue space Prada purchased from Jeff Sutton for more than $800 million. The retail giant appears to be putting a big piece of the puzzle in place.

Jeff Blau’s Related Companies is nearing a deal to develop a skyscraper at 720-724 Fifth Avenue, the Commercial Observer reported. The building may be attached to the Aman hotel and residences adjacent to the site; tenants may even be able to utilize the amenities next door, per the report.

Blau is negotiating to develop a 225,000-square-foot building. Prada would have a store at the base of the property and corporate offices above that. The building would also feature luxury residences that could command five figures per square foot. Prada would reportedly need to relocate during construction of the property.

[The New York Lion]

"Very tall and slender"

Amazing news.

I wonder if we can reach supertall status.

[ssh]

Supertall and 225k square feet doesn't seem realistic, 520 5th is 1,002' and 415k square feet.

[Busy Bee]

I'd be okay with "pretty tall and fairly slender."

I don't want to see a pencil thin 18:1 tower here.

[streetscaper]

I like the building with the green roof

[Busy Bee]

Originally Posted by streetscaper

I like the building with the green roof

The copper roof is interesting and pleasing to the eye, but IMO the rest of the building is wounded by time and modifications and mediocre at best.

[streetscaper]

Originally Posted by Busy Bee

The copper roof is interesting and pleasing to the eye, but IMO the rest of the building is wounded by time and modifications and mediocre at best.

True, I kinda agree. But I also think it adds really good context for the rest of 5th ave, (and especially adds great context for the Aman Residences building right next door). When I think of 5th ave, I think of a classical architectural wonderland of beautifully embellished, prewar commercial mid/high-rises on small plots (with a few nice modern buildings mixed in of course). It's very unique in the city (only Broadway below 23rd St can match it IMO). Not every building will be spectacular but they all add to that feeling, nonetheless.

I hope we get something classically-inspired here (á la 520 Fifth ave) to maintain the balance since a lot of the new buildings on 5th have been glass (in addition to getting rid of the finely-grained urbanism that smaller plots offer, which I also somewhat lament).

[Busy Bee]

The lots measure 15,000 sq ft. You can assume the Prada flagship will occupy at least 50-60k sq ft. So lets figure 4 tall retail floors 25 feet slab-slab - there's your 100 foot base. It will probanly have some sort of loggia or terrace above that and then stepped back from the base and in from the Crown Building. So lets say 125 feet of base and 75k sq ft. That leaves 150k of residences. Assuming full floor units are roughly 5k sq ft (including likely offset elevator core) and 15 foot slab-slab floors, that's another 450 feet. My guess is this tower winds up being 650-700 feet with architectural crown - right around the same height as Dump Tower. If they go crazy with ceiling height and duplex or loft floors I can see this reaching 800-900'.

[Busy Bee]

I have fantasies about a RAMSA-SHoP collaboration. That could work here, no?

[streetscaper]

Originally Posted by Busy Bee

I have fantasies about a RAMSA-SHoP collaboration. That could work here, no?

That sounds drool-worthy indeed!

[NYguy]

Originally Posted by ssh

Supertall and 225k square feet doesn't seem realistic, 520 5th is 1,002' and 415k square feet.

The Steinway addition is about 100,000 sf. I hope they don't go that thin, though it wouldn't be out of place. But in respect to the Crown Building, and single residence floors, it will be a thin tower.

.....it would still likely be sensitive to the gilded crown of the Aman and rise as a very tall, slender tower with single-floor residences.

Hoping for some stand out architecture either way. The new Louis Vuitton building will be just up the street. Related is/was planning a very similar tower at 625 Madison Avenue, which is also nearby. I wonder if this could potentially lead to a change in plans there, though that one is further along...

















Some area context...



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[NYguy]

https://www.curbed.com/article/prada...aper-aman.html

What Will Prada’s Fifth Avenue Skyscraper Be?





By Kim Velsey
October 16, 2025

In late 2023, Prada spent $835 million to buy two Fifth Avenue buildings — 724 Fifth Avenue, where for decades it had been renting five floors for its flagship and office space — and 720, the 15-story building next door. Even for prime Fifth Avenue territory just around the corner from Billionaires’ Row, the price was considered steep, but then again, all of its luxury competitors were also paying top dollar to snap up real estate on Manhattan’s toniest retail strip — the Kering group (Gucci, Balenciaga) spent almost a billion dollars to buy the retail portion just across the street, at 715-717 Fifth Avenue. Prada was also facing a hefty rent increase and possibly a temporary displacement while its landlord, Jeff Sutton, renovated in the near future.

Now we finally know what Prada is planning to do with its two buildings: partner with Related on a new, 225,000-square-foot skyscraper at the site, with a store on the bottom and office space and luxury housing above. It may even share super-fancy amenities with the Aman hotel and residences next door, Commercial Observer reported.

Prada started looking for development partners earlier this year, according to The Real Deal, taking meetings in Italy with Vornado and SL Green before ultimately deciding to go with Related. It’s likely that it will have to relocate during construction. It currently occupies about 15,500 square feet over the first four floors of the 12-story building at 724, with corporate offices on the fifth floor. (It also has a Madison Avenue store less than a mile uptown, so New Yorkers will still be able to shop nearby.)

The deal with Related is not yet final, but is said to be close. Other luxury brands have also started revealing plans for their Plaza District real estate. In September, LVMH filed plans with the city for a 25-story tower at 1 E. 57th Street, the site of its temporarily closed flagship (it also bought the building next door). No word of apartments there yet, but the first ten floors will be occupied by the flagship, which will have exhibition spaces, showroom suites, multiple restaurants, and a spa.

[NYguy]

This stretch of 5th Avenue was once home to many of the gilded age mansions , including the Vanderbilt mansion at the current site of Bergdorf Goodman.....







https://www.gettyimages.com/detail/n...?adppopup=true



https://www.gettyimages.com/detail/n...?adppopup=true



https://www.gettyimages.com/detail/n...?adppopup=true

[NYguy]

Sources say Blau is currently negotiating with the company to build a 225,000-square-foot tower with the Prada store at its base, the company’s offices above it, and then super luxury residences throughout the rest of the building that could sell for more than $10,000 per square foot.

.....likely be sensitive to the gilded crown of the Aman and rise as a very tall, slender tower with single-floor residences.

Not sure if that 225 is a reference to total size, or zoned sf, but as a reference for a slender tower with luxury residences, another example would be 262 5th Ave, built at 150,000 sf...







Probably won't happen, but it would be nice to see what SHoP could do here, as they already shown that they can work with and around landmarks in the city to give us nice tower (Steinway, Brooklyn Tower).




https://www.forbes.com/sites/reginac...on-the-market/

[Crawford]

Great news, and not surprising. Should be prominent from Central Park.

I hope we get a landmark supertall here. Could be extremely tall, given the tiny footprint.

In any case, should be super high quality, given the location.

[NYguy]

No doubt they’re expecting high numbers here….


https://www.mansionglobal.com/articl...-135m-4d2d2b1a

Aman New York Penthouse Sells for $135 Million—the City’s Biggest Deal This Year
The five-story unit is one of 22 residences above the hotel in the historic Crown Building


BY CHAVA GOURARIE
July 9, 2024

A five-story penthouse unit at the Aman New York has closed for $135 million, making it the most expensive sale in New York this year, edging out the $115 million duplex at Central Park Tower, which closed last month.

The 12,500-square-foot unit is one of 22 rarified residences above the Aman New York hotel in the historic Crown Building in Manhattan, located along Billionaire’s Row at Fifth Avenue and West 57th Street. Five units in the building have sold for above $50 million, and one sold for $75.8 million in 2022.

[NYguy]

Still wondering what Soloviev will do with his side of the Crown...


OCTOBER 24, 2024

[ChiND]

The views to the north will be amazing, but Related Also will want views to the south. 712 Fifth Avenue is directly south of this site, and it is 650 feet tall. Thus, I expect that the Prada tower will be at least 800 feet tall.


NYGuy