Five Points’ delayed 1,000-ft tower, Nomad’s first supertall, receives permits five years after plans filed

Five Points Development, on September 29, was given a permit for the construction of a 41-unit, 172,291-square-foot mixed-use building at 262 Fifth Avenue in Nomad. Yoram Barel filed the plans for the company, which is led by the Israeli-Russian billionaire developer Boris Kuzinez.

The construction permits come five years after the developer filed plans for the building, which were the first plans for a supertall filed in Nomad, according to several reports.

The building plans were part of a surge in supertalls in the city in the last decade, as highlighted in the New York Time’s profile on incomplete safety-related requirements at several such towers along Billionaires’ Row and elsewhere around the city.

The developer acquired the three adjacent properties spanning 260, 262, and 264 Fifth Avenue for $101 million in 2016, according to city records. Soon afterwards, demolition plans were filed and wrapped up in 2017, around the time that renderings of the planned project were released.

However, very little occurred at the site over the following years, as the lots sat vacant. The permits are a sign that the stalled development will finally be moving forward again.

The plans, pre-filed on September 23, 2016, call for the construction of a 1000-foot tall, 54-story residential building.

The project is described in the filings as: construct new 54-story mixed-use building.

Per the plans, the ground floor of the building will have a lobby and retail space. The second floor will also have retail space, while the third floor will be used for mechanical rooms. The fourth floor will have amenities including a pool, gym, and recreation space. Residential units will span the upper floors. Floors will either have one full unit or half of a duplex unit.

Initial reports identified the Moscow-based firm Meganom as the architect. The plans list SLCE as the architect of record.

Direct link to Acris document. LINK

Direct link to DOB document. LINK