The Fifth Avenue supertall planned by Five Points Development has gone through a number of changes since it was announced in 2017.
The changes have included its projected height, unit count and even the assemblage. Now, add the sales team to the list.
Sotheby’s International Realty’s Nikki Field and Ben Pofcher from The Field Team are taking over sales at 262 Fifth Avenue, in partnership with Sotheby’s International Realty Development Advisors. Douglas Elliman’s Michael Graves had previously been tapped to lead sales heading into the project, which received approval from the New York State Attorney General’s office at the end of 2024.
But by July 2025, the project still had not launched sales. A spokesperson told The Real Deal at the time that sales had been delayed to “ensure we’re coming to market at the most advantageous moment.”
The project priced only five of its 26 units upon receiving its approval, and has yet to report a signed contract. After topping out in 2024, development remains underway at the building renowned as much for its width, or lack thereof, as its height.
Still, the team will be moving ahead with private showings beginning next month. The building’s simplex homes will start at $7.5 million, its mezzanine residences at $8.75 million and its duplex residences at $18 million, according to a spokesperson for the project.
“As we near completion, we will begin engaging a select group of buyers, presenting a limited and highly considered residential offering,” Five Points head Boris Kuzinez said in a statement.
It has been a winding road for building thus far. Kuzinez originally bought three plots of land at 260, 262 and 264 Fifth Avenue for $102 million 10 years ago, before selling 260 Fifth Avenue for $52.5 million in 2021.
He also cut the building’s proposed unit count in half and brought the height down from 1,000 feet to 860 feet. The building sits on just 5,000 square feet of land just north of Madison Square Park and is topped with a 70-foot oculus and inverted golden arch.
The project brought in $180 million in financing from Madison Realty Capital and Cottonwood Group in 2023. Last June, Cottonwood bought out Madison Realty’s $90 million note secured by the building’s condo units.
Field’s move to 262 Fifth comes after she successfully turned around what had previously been lagging sales at 111 West 57th Street, where she sold 25 of the tower’s 27 remaining units after taking over sales in July 2024.
It also gives her the distinction of being the sales agent on the city’s two skinniest buildings above 40 stories.
While the building will be launching sales during a period in which new development inventory has dried up, it will have some competition directly to the south.
The conversion of the Flatiron Building at 175 Fifth Avenue has seen a number of pricey deals, including contracts for full-floor units on the seventh and 21st floors asking $30.5 million and $58.5 million.
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