The Real Deal New York

Revised renderings revealed for Thor’s 520 Fifth Avenue

February 11, 2014 04:53PM

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From left: 520 Fifth Avenue now and a rendering of 520 Fifth Avenue

From left: 520 Fifth Avenue now and a rendering of 520 Fifth Avenue

Thor Equities has unveiled renderings for its planned Midtown mixed-use project at 520 Fifth Avenue — a slight departure from earlier designs.

The 39-story glass building will feature 77,000 square feet of retail space at the base of the tower and a combination condominium and hotel up top. No building permits have been filed for the tower, but Town Residential broker Paul Macapagal’s personal website says that there will be 96 condominium residences in total at the property according to a report from New York Yimby.

The two structures that once sat on the site have been completely demolished, and permits for the commercial podium at the structure’s base have been approved.

Joseph Sitt’s Thor Equities purchased 520 Fifth Avenue as part of a trio of properties in December of 2011, with plans to demolish the existing structures and build a new $250 million mixed-use complex. He bought the properties from developer Aby Rosen and Tahl-Propp Equities, who went into partnership in 2007 and later defaulted on an $80 million loan. [Curbed] and [New York YIMBY]Julie Strickland

  • marknroses

    i only count 6 stories. Maybe its a marketing ploy to bag a top notch retailer at the property?

  • Jonny

    Seems like if the article’s photo is going to contradict the text, they would address it in the article, but what do I know

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