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First Sigma, led by Jacob Orfali and Steven Orfali, filed a land-use application with the city to build a nearly 500-foot tower at 1097 First Avenue. The site, at the northwest corner of First Avenue and East 60th Street, currently contains a row of five-story buildings dating to at least the early 20th century. Public records show First Sigma owns seven properties in the immediate area: 1097, 1099, 1101, and 1103 First Avenue, and 345, 347, and 349 East 60th Street.
The proposed tower would rise 495 feet and include roughly 316,000 square feet of space. Under the city’s Mandatory Inclusionary Housing program, about 89 units — 25 percent of the residential space — would be set aside as permanently affordable. The plans also call for more than 42,000 square feet of community facility space on the second through fourth floors and about 4,400 square feet of ground-floor retail.
