Work has yet to commence at 335 Fifth Avenue in Koreatown, where a 26-story mixed-use residential building is expected to rise. Pi Capital Partners filed permits last August for the site, which is located at the corner of East 33rd Street and Fifth Avenue. The 283-foot-tall building is being designed by Raymond Chan Architect and will span 85,224 square feet. Eighty-two residences are expected to be created, averaging 682 square feet apiece.
Tectonic’s photo shows that demolition preparations have not yet begun for the existing structure on the plot. Current tenants include a Wendy’s fast food restaurant, a money exchange service, a souvenir shop, and an artisan handbag company. The site is directly across Fifth Avenue from the Empire State Building.
The development will include 55,977 square feet designated for residential space and 11,026 square feet for commercial use. 335 Fifth Avenue is two blocks from the 33rd Street subway station, serviced by the 6 train. The B, D, F, M, N, Q, R, W, and PATH trains are also nearby at the 34th Street-Herald Square station under the intersection of Sixth Avenue and Broadway. The address is also a short walk from a number of retail flagships that line Fifth Avenue.
At 26 stories, the new building will fit into the general context of the neighborhood. Its location across from New York’s most famous building will likely be a draw for future residents and an incentive for providing a shared roof deck. No official list of amenities has been announced, nor has a start date for the demolition. YIMBY will be on the lookout for a finalized rendering and timetables for construction.