NEW YORK | Tower Fifth | 1,556 FT | 96 FLOORS

[Crawford]

Yeah, I believe Macklowe's Tower Fifth dream is dead.

But something is rising here. Ramirez Asset Management now owns three adjacent properties. Wonder if they would build a more boutique office tower or maybe flip the assemblage. Maybe a mixed-use tower?

[ChiND]

Originally Posted by Crawford

Yeah, I believe Macklowe's Tower Fifth dream is dead.

But something is rising here. Ramirez Asset Management now owns three adjacent properties. Wonder if they would build a more boutique office tower or maybe flip the assemblage. Maybe a mixed-use tower?

I couldn’t read the article, as it was locked. Which properties does Ramirez own?

[NYguy]

Originally Posted by ChiND

I knew that this eyesore would never rise. Sadly, Macklowe, the putz, ruined the facade of 5 E 51st.

https://www.crainsnewyork.com/real-estat...nt-buys-12-e-52nd-st-macklowe-properties

Macklowe acquired the lot in question, between Fifth and Madison avenues, for $32 million in 2016, records show, and was apparently in contract to seize the adjacent property at 14 E. 52nd St., too, in order to facilitate plans for his latest development. But his dreams of ever building Tower Fifth — which is still listed as a current project on his firm's website — were stymied when the Financial District-based investment company Ramirez Asset Management swooped in and bought 14 E. 52nd St. for $19.5 million in 2023, records show.

Two years later, Ramirez Asset Management — an affiliate of Samuel A. Ramirez & Company — is now the new owner of 12 E. 52nd St. as well, which the firm acquired under the entity Ram HQ II LLC. Samuel Ramirez Jr., president and CEO of the firm, signed the deed on behalf of the buyer, records show.

Ramirez told Crain's Monday that he intends to make the entirety of both 7-story buildings the company's new corporate headquarters, moving the firm from 61 Broadway, where it's been located since 1971, to Midtown, several hundred feet from St. Patrick's Cathedral and Rockefeller Center. Ramirez said he just completed interior renovations on No. 14 and will be doing the same at No. 12. Both buildings are currently vacant, he said.

For the best, as 350 Park is rising nearby.

[ChiND]

Originally Posted by NYguy

For the best, as 350 Park is rising nearby.

That's a shame. I was hoping for a new RAMSA, but I'm glad that Macklowe's insane tower won't rise.

[Zapatan]

Not sad about this at all, a building can be half a kilometer tall and good looking, we can have both.

[Ladhani Metals]

Hi my name is Ria and I'm working in Ladhani Metal Corporation Does anyone know what kind of height and design restrictions exist for constructing new towers near historic landmarks like St. Patrick’s Cathedral in Midtown Manhattan? Could Harry Macklowe realistically get approval for an office tower there?