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Old January 16th, 2014, 04:35 PM   #1
RobertWalpole
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NEW YORK | 281 5th Avenue | 222m | 728ft | 52 fl | U/C



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40-Story Condo Development Headed to Fifth Avenue, Report Says

Quote:
By Mathew Katz on January 17, 2014 9:07am


MIDTOWN — A huge new residential development could soon come to Midtown, according to a report.

Jon Kushner, a developer with the Kushner Real Estate Group, purchased three buildings at the corner of Fifth Avenue and West 30th Street in the hopes of building a high-end condo there, according to a report in Bisnow.

The condo at 281 Fifth Ave. would be 40 stories and about 135,000 square feet, Kushner said, according to the report.

KRE purchased the buildings in 2012, according to city records. At three floors, the building is easily among the smallest on the block and could be build much higher under current zoning.

The proposed condo would be designed by HWKN Architects, the report said. The spot is currently a shuttered deli.

Headquartered in New Jersey, KRE owns over 100 properties and has expanded in New York in recent years.

Kushner did not respond to a request for comment.
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Three buildings on the southeast corner of Fifth Ave and 30th Street are empty and will be redeveloped.

http://www.bisnow.com/commercial-rea...ng-nyc-condos/

Another site across 5th is being redeveloped too.
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Old January 17th, 2014, 08:19 AM   #2
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High-end condos? Could be another 400 PAS...
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Old January 17th, 2014, 07:54 PM   #3
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I don't think that it will be that nice, but it will be an improvement over what's there.

As set forth in the photo on the attached article, it will replace a worn-out building in an area otherwise filled with beautiful pre-War buildings.

http://therealdeal.com/blog/2014/01/...n-condo-tower/

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Old January 17th, 2014, 07:59 PM   #4
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From Curbed:


New 40-Story Condo Planned For Fifth Avenue In NoMad

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Old January 17th, 2014, 08:09 PM   #5
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Hate me for saying this but that's a one beautiful corner building.
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Old January 17th, 2014, 08:13 PM   #6
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Quote:
Originally Posted by RobertWalpole View Post
From Curbed:

New 40-Story Condo Planned For Fifth Avenue In NoMad
Glad to see this eyesore go.


Quote:
The project will be about 135,000-square-feet, and it will replace three buildings (279-281 Fifth Avenue, 2 East 30th Street) on the site that KRE bought in 2012. The corner building sits at just three stories, but current zoning would allow for a much taller structure.
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Old January 17th, 2014, 09:54 PM   #7
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Quote:
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Hate me for saying this but that's a one beautiful corner building.
That existing building looks like an old Depression era taxpayer. The original site owner probably intended something much larger before 1929.
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Old January 17th, 2014, 10:18 PM   #8
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Quote:
Originally Posted by RobertWalpole View Post
I don't think that it will be that nice, but it will be an improvement over what's there.

The architects will be HWKN who just unveiled this quirky lowrise hotel design for Brooklyn:


http://ny.curbed.com/archives/2014/0..._wythe_ave.php


Could be WEIRD. (memo to the developers: Atelier Christian de Portzamparc is still taking orders )
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Old January 17th, 2014, 10:35 PM   #9
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What the devil is that...
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Old January 17th, 2014, 10:55 PM   #10
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Quote:
Originally Posted by meds View Post
Hate me for saying this but that's a one beautiful corner building.
Yeah, it's a bit 'streamline modene', like they had in the late 30s, but I wouldn't mind something tall and slim to go here.
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Old January 17th, 2014, 10:58 PM   #11
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-edit- Nevermind. Misinterpreted the post above.
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Old January 18th, 2014, 04:41 AM   #12
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I'd be shocked if something tall or great rose here. I expect it to be 500' max. I just hope that it's brick and stone. This part of. 5th should eschew glass.
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Old January 18th, 2014, 11:11 PM   #13
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Quote:
Originally Posted by RobertWalpole View Post
I'd be shocked if something tall or great rose here. I expect it to be 500' max. I just hope that it's brick and stone. This part of. 5th should eschew glass.
the area is on the up. Why not design something really spectacular here to serve as a beacon for the renaissance of NoMad?
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Old January 18th, 2014, 11:51 PM   #14
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I agree with your perspective. The area is improving, but it's still low rent by NY standards. The area south of 23d St seems to yield over $2k/sf, whereas this area yields less. Langham Place, however, gets around that sum.
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Old March 5th, 2014, 02:48 AM   #15
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Quote:
Originally Posted by RobertWalpole View Post
From Curbed:


New 40-Story Condo Planned For Fifth Avenue In NoMad

I suspect that all five buildings pictured here will be a part of this site. All but the white one are empty.
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Old March 9th, 2014, 11:17 PM   #16
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that white building in the middle actually looks very nice.
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Old March 11th, 2014, 01:30 AM   #17
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I agree.
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Old March 28th, 2014, 01:12 AM   #18
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http://therealdeal.com/blog/2014/03/...sale-in-nomad/
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Old March 29th, 2014, 03:46 PM   #19
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They can build it over the white building
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Old April 1st, 2014, 07:18 AM   #20
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That would be nice, but it's not going to happen. The white building sadly will come down.
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