Excavation has started at 262 Fifth Avenue, the site of a long-planned 1,011-foot-tall residential supertall skyscraper in NoMad, New York YIMBY reports.
CM & Associates Construction Management, LLC is the general contractor for the 60-story structure designed by Russian-based firm Meganom with executive architect SLCE Architects. The developer is Boris Kuzinez of Five Points Development under the Five Points 262 Project, LLC.
When completed, the building on the corner of Fifth Avenue and West 29th Street will include 139,168 sq. ft. of residential space (in 41 units) and 10,850 sq. ft. of retail on the first two floors.
In 2017, a penthouse in the planned building was reported to be priced at $75 million, with the least expensive unit priced at $2.7 million, The Real Deal reported. It is unclear what the prices would be now.
The New York City Department of Buildings (DOB) had approved plans for the site in October, 2017 and the site had been cleared, but remained dormant until recently, NY Yimby reported. Work is now expected to be complete in the summer of 2023.