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Midtown Getting its Own Collection

Watch your back, 20 Pine, because come Tuesday, there's gonna be a new Collection in town. That's the date of the launch for the condo conversion at the former Rogers, Peet Building at 485 Fifth Avenue, redubbed the Peter Som Collection of Residences.

Peter Som is a clothing designer, so it looks like he's trying to pull an Armani/Casa and get into the whole luxury interiors game. The 10-story brick building, located just across the street from the New York Public Library, was sold to Belfonti Capital Partners and the Carlyle Group in September for $88 million, and used to be the home of Tommy Hilfiger (the company, not the dude). Corcoran Sunshine is marketing the building, and on Tuesday they'll host a little cocktail party for invitees on the building's fifth floor, and the Peter Som Collection of Residences will be born. Expect prices to start at $1 million, lots of talk about fashion and a website with an awful modern jazz soundtrack.
· 485 Fifth Avenue to be converted to residential condominiums [CityRealty]

[485 Fifth Avenue photo ganked from Property Shark]