“Construction is expected to begin in 2028.”
What the hell?? 
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Also that price tag is ridiculous! … but if it must be so…
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“The development site at 570 Fifth Avenue, between 46th and 47th Streets, is slated to become a 33-story office tower, anchored by an 80,000-square-foot IKEA store at its base, according to the developer, Extell Development.”
Also of interest:
" … seems to be the case for Prada, which bought its location at 724 Fifth Avenue for $425 million… (Prada, which also bought 720 Fifth Avenue, and the seller of both buildings, Sutton, did not respond to requests for comment.)"
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