Five Points Development’s skinny supertall at NoMad is still alive and well, though with fewer units planned than ever.

Crain said a lawyer for the firm, run by Israeli-Russian billionaire Boris Kuzinez, revealed that the 262 Fifth Avenue project, despite being 860 feet tall, only included 26 units. report. The representative speaks at community board meetings.

When Kuziness sold part of his complex, a 60,000-square-foot office building at 260 Fifth Avenue, a few years ago, the project seemed to have fallen apart. $52.5 million. However, construction is expected to finish next year, despite having 13 fewer apartments than planned at the time. (Before this, it was a 41-unit project.)

The average size of these units is 3,200 square feet. At least one is quadruple.

When complete, the skyscraper will be the thinnest on the skyline at just 5,000 square feet and 56 stories.For comparison, Harry Macklowe and CIM’s Matchstick 432 Park Ave – Already Facing Claims weird noises and bugs Probably has something to do with its thinness — it’s almost seven times that size.

already have some push back Compared to Five Points and other similar projects, these projects offer few homes relative to their size and often sell units to buyers who own many other homes. critic They also objected to their unusual shape – a result of the high cost of land and the high price of apartments with views.

Kuzines also seeks to add more parking spaces than the zoning allows, an idea that has been opposed by Manhattan Borough President Mark Levin.

Entities related to the developer submitted plan The project came shortly after purchasing the lot and two adjacent properties in 2016 for $59 million. The plans call for a 150,000-square-foot building, including 11,000 square feet of retail space.

Still, Kuzines has struggled to secure financing. Also, agent Eran Elhanani be accused The developer is seeking commissions on two air rights deals for the complex.

Five Points did not respond to Crane’s request for comment.

holden walter warner

read more

Leave a Reply

Your email address will not be published. Required fields are marked *