"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."
"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."
"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."
The Fifth Avenue supertall project by Five Points Development has seen alterations in height, unit count, and sales team since its 2017 announcement. Sotheby's International Realty's Nikki Field and Ben Pofcher are now leading sales, taking over from Douglas Elliman's Michael Graves. Sales were delayed to optimize market timing, with only five of 26 units priced upon approval. The simplex homes start at $7.5 million, mezzanine residences at $8.75 million, and duplex residences at $18 million. Development continues, with private showings set to begin next month.
Read at therealdeal.com
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