Boris Kuzinez’s long-delayed supertall at 262 Fifth Avenue remains stalled despite topping out at 860 feet last year. Though it received offering plan approval in December, only five of 26 condos have been priced, ranging from $9.15M to $23.25M. Sales, originally planned for spring, have been delayed to time the market better. Cottonwood Group recently bought out Madison Realty Capital’s $90M note, consolidating the $180M financing. The project faces competition from newer towers like 520 Fifth and the upcoming Flatiron Building conversion. Kuzinez originally acquired the site for $102M but has yet to release pricing on the signature penthouse.
262 Fifth Avenue
