This is going to be great!
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some renderings of the retail base which have apparently been around for awhile
this pdf has a few more https://www.thorretailadvisors.com/assets/media/uploads/Featured%20Listings/520%20Fifth%20Avenue/520-Brochure-updated.pdf
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A for effort. I get it.
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such a shame this became a cluster you-know-what.
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According to YIMBY site is cleared
Just realized this building is right behind 500 5th, kinda upsetting to have a glass box go up next to an Art Deco masterpiece, but it will be an impressive tower
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It certainly will have good height for the immediate area as long as it gets built as currently planned. At least it is not a glass box.
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Yes, this building will permanently block 500 Fifth’s striped northern facade from most vantage points, including Top of the Rock. Quite ironic that mundane glass monoliths like this building and BIG’s hideous hunk of junk at 29th & 5th are allowed to infringe on Art Deco landmarks, while the beautiful Tower Verre got chopped 200 feet for being “too close to the ESB”.
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Not directly related to this site but next door.
A long shot and long-term play for sure, but maybe these sites could be combined once the economy gets back on track.
via Steve Cuozzo at the NY Post
" The timing — if not the fate — of major property sales that are in contract weren’t immediately clear, including Amazon’s $1.15 billion buy of the former Lord & Taylor building from a WeWork partnership and Aby Rosen’s $350 million purchase of 522 Fifth Ave. from Morgan Stanley.
Sources said Rosen’s RFR was likely to go ahead with the purchase. The parties signed a hard contract just prior to the nationwide lockdown. It reportedly included an agreement for the bank to stay as a tenant for three years, which would give Rosen a comfort blanket.
But we’ve also learned that, in anticipation that the situation might get worse, Morgan Stanley gave Rosen an option to extend the contract before closing. He also put down a large deposit he was unlikely to walk away from. The bank was repped by a Darcy Stacom team at CBRE. Neither she nor Rosen could be reached."
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Any updates on this?
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Sounds like Rosen is set on keeping the building, planning to lease the space to a single tenant, but this is an adjoining site with 500,000 SF. Imagine an assemblage…
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I’m thinking the same! haha
This sites location is too close to Grand Central to not be a lot denser, hopefully if he finds any takers it will be a shorter term lease.
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Probably an upgrade from Handel.
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