1280 Fifth Ave, New York, NY

Development | 1280 Fifth Ave, New York

Transaction Summary

1280 Fifth Avenue is a 24,000 square foot site located at 110th and Fifth Avenue. Brickman was selected by the Museum for African Art ("Museum") to develop a Museum, in addition to 116 for-sale condominium units, on Central Park at Fifth Avenue and 110th Street, the beginning of the Museum Mile.

The building is designed by Robert AM Stern, and will contain a museum condominium unit (70,348 gross square feet), residential condominium unit (211,943 gross square feet/166,874 net square feet) and a parking unit (12,858 gross square feet). The Project will contain 19 stories above grade; floors 5 through 19 will contain the 116 residential units.

Amenities include a rooftop garden & pool, various lounges, a state-of-the-art fitness center, and below-grade parking.

Investment Strategy

Brickman is taking advantage of the resurgence of northern Manhattan and the opportunity to develop the last parcel on Fifth Avenue that faces Central Park.

Approximately 80% of the units have direct Central Park views and residential floors start at 60 feet (above the tree line).

The Project will target families in Manhattan seeking a relatively low entry price for a home, based on both a per-square-foot and unit comparison. With the project's singular location, Fifth Avenue address, park views, signature architect, and beautiful layouts, Brickman believes that it will attract savvy New York home buyers who will be attracted to the location, neighborhood and value of the product.