New York




520 Fifth Avenue

Developers Close On 520 Fifth Avenue, Plan 71-Story Mixed-Use Tower, Midtown

In June, Ceruzzi Properties was reportedly in contract to purchase 520 Fifth Avenue, on East 43rd Street, and now the developer has closed on the $325 million site, according to Commercial Observer. Shanghai Municipal Investment’s U.S. arm is partnering with Ceruzzi, and the team is planning to follow through with applications filed back in 2014, which call for a 71-story mixed-use tower.


5-17 47th Avenue

CUNY’s Graduate Center Acquires Site At 5-17 47th Avenue For Dormitory Project, Long Island City

The City University of New York’s graduate center has purchased the vacant lot at 5-17 47th Avenue, in Long Island City, from O’Conner Capital Partners for $22.5 million, according to The Wall Street Journal. CUNY plans to build a dormitory for graduate students and faculty. The property could accommodate a building of six stories and 200 residential units, and is located a few blocks from subway stations for the 7 and G trains.


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