Pi Capital bringing 82-unit mixed-use building to Midtown

Project will span about 67K sf at 335 Fifth Avenue

335 Fifth Avenue (Credit: Google Maps)
339 Fifth Avenue (Credit: Google Maps)

UPDATED, June 17, 2020, 10:30 a.m.: Pi Capital Partners is planning to develop a 26-story building in Midtown.

The developer is planning a 67,000-square-foot mixed-use project at 339 Fifth Avenue, which the family-run company has owned since at least 1993, according to public records.

The project will contain 82 residential units, and will be split between about 56,000 square feet of residential space and 11,000 square feet of commercial space, according to plans filed Friday with the Department of Buildings. Raymond Chan Architect is designing the building.

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Representatives from Pi Capital declined to comment.

The firm landed a pair of major refinancings last year for its projects in Queens: a $60 million mortgage for its residential building at 85-15 Queens Boulevard in Elmhurst and a $43 million recapitalization loan for Flushing Professional Tower at 136-18 39th Avenue.

Update: This story has been updated to reflect that the building is in Midtown, not Koreatown. 

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