277 Fifth Avenue

277 Fifth (also called 281 Fifth Avenue) is a condominium tower in Manhattan, New York City designed by architect Rafael Viñoly. The building rises 55 stories and contains 130 residential condominiums.[3] It is tied with two other buildings, One Grand Central Place and the Barclay Tower as the 81st tallest building in New York at 209 meters. It has been compared to another building of Viñoly's, 432 Park Avenue.[3]

277 Fifth
Seen in October 2018
Alternative names281 Fifth Avenue
General information
StatusComplete
LocationNew York City
Address277 Fifth Avenue
CountryUnited States
Coordinates40.745661°N 73.986275°W / 40.745661; -73.986275
Topped-outMarch 2018
Completed2019
Cost$470 million[1]
Height673 feet (205 m)
Technical details
Floor count55
Floor area268,441 square feet (24,939.0 m2)
Design and construction
ArchitectRafael Viñoly
DeveloperLendlease, Victor Group
References
[2]

History

In 2012, Kushner Real Estate Group and Ironstate Development acquired the three buildings at 277, 279, and 281 Fifth Avenue. The developers planned a 40-story, 132,000 square feet (12,300 m2) high-end condo building designed by HWKN Architects.[4] Victor Group purchased the site in June 2014 for $99 million and later purchased 273 and 275 Fifth Avenue for $50.3 million.[5] In total, Victor Group reportedly spent a total of $174.1 million for the land and air rights underpinning the project.[1] In early 2015, the Australian Lendlease purchased a stake in the project which valued it at approximately $400 million.[6]

Plans for the building were first announced later in 2015,[7] and construction began in 2016.[8] In February 2017, the developers received a $269 million construction loan from three Singaporean banks including United Overseas Bank, OCBC Bank and DBS Bank.[1] Chinese firm Beijing Shokai Group also invested $100 million in preferred equity in the project.

The building topped out in March 2018 and was completed by the end of the year.[9]

Usage

The building is residential. The building offers a fairly limited set of amenities compared to other, similar buildings.[10]

See also

References
  1. Schram, Lauren (February 27, 2017). "Lendlease, Victor Group Land $369M in Financing for NoMad Condo". Commercial Observer.
  2. "277 Fifth Avenue". CTBUH Skyscraper Center.
  3. Walker, Ameena (July 18, 2017). "Rafael Viñoly's 55-story Nomad tower is on the rise". Curbed. Retrieved July 19, 2018.
  4. Hylton, Ondel (March 12, 2018). "NoMad's Tallest Spire, 277 Fifth Avenue, Now Topped Out". City Realty.
  5. "What's the Deal: Commercial Property Transactions". The Wall Street Journal. June 1, 2014.
  6. Geiger, Daniel (April 20, 2015). "Lend Lease buys stake in planned $400M Fifth Avenue condo tower". Crain's New York.
  7. Wilson, Reid (April 22, 2015). "51-Story Luxury Residential Tower At 281 Fifth Avenue To Break Ground By 2016". YIMBY. Retrieved July 19, 2018.
  8. Wilson, Reid (November 18, 2016). "Foundation Work Underway On 52-Story, 141-Unit Mixed-Use Tower At 281 Fifth Avenue, NoMad". YIMBY. Retrieved July 19, 2018.
  9. "Viñoly-Designed 277 Fifth Avenue Officially Tops Out At 55 Floors and 663 Feet in NoMad". New York YIMBY. March 9, 2018. Retrieved August 13, 2018.
  10. Hughes, C. J. (August 25, 2017). "In NoMad, a 55-Story Condo Tries to Peek Out From the Pack". The New York Times. ISSN 0362-4331. Retrieved January 19, 2021.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.