Rabina Launches Sales at Fifth Avenue’s Tallest Residential Building

Corcoran Sunshine Marketing Group is handling the process.

520 Fifth Avenue
520 Fifth Avenue will rise 1,000 feet. Image by Binyan Studios, courtesy of Rabina

Rabina has launched the residential sales at 520 Fifth Avenue, a 76-story mixed-use tower that will encompass 100 luxury condominiums in Midtown Manhattan.

The 508,000-square-foot project is currently underway. Designed to rise 1,000 feet, the building is slated to become the tallest residential building on Fifth Avenue. Construction is expected to be completed in 2025.

The development team includes architect of record Kohn Pedersen Fox, while AD100’s design firm, Charles & Co., will be the interior designer in charge of the residences and the amenity spaces. Corcoran Sunshine Marketing Group is leading the marketing and sales efforts for the condominiums, with prices starting at $1.7 million.

In 2022, the developer secured $540 million in financing, consisting in a $410 million senior mortgage originated by Bank OZK and a $130 million mezzanine loan from Carlyle’s Global Credit, according to the New York YIMBY. The site of the upcoming skyscraper had been occupied by three former structures. Rabina picked it up in 2019, submitting the project’s design plan by early 2021.

A new skyscraper on Fifth Avenue

The condo units at 520 Fifth Avenue will start from the 42nd floor, where one-, two-, three- and four-bedroom residences will be distributed vertically throughout the building. The condo units will include ceiling heights ranging from 10 feet to more than 14 feet, white oak flooring, kitchens with white lacquer cabinetry and quartzite countertops, as well as bathrooms with marble countertops and flooring. The penthouse residences will offer full-floor layouts with panoramic views.

520 Fifth Avenue’s façade features elements that pay homage to the neighborhood’s many Beax-Arts buildings, with glazed terracotta arches framing glass apertures, while the building’s interiors will feature European-style mosaics and veined stone. The property will also include Moss, a new member’s club with extensive hospitality, wellness and athletics services, along with a collection of boutique office spaces.

The skyscraper’s top floor will include a residents-only amenity space that will feature a glass-walled solarium, a dining room, a library, a lounge and a game room. Additionally, the project will include a 24-hour attended lobby.

520 Fifth Avenue is close to Bryant Park and Grand Central Station, 4 miles from Manhattan’s Financial District, 5 miles from Brooklyn Heights, 7 miles from Upper Manhattan and within 15 miles of John F. Kennedy International Airport.

Another luxury condominium project currently underway has launched sales earlier this month: Two Trees Management’s One Domino Square, a 39-story waterfront tower in Brooklyn’s Williamsburg neighborhood. The project will bring 160 luxury condo units, with prices starting at $1.3 million for a one-bedroom unit.

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