A nearly 370-foot tower may rise just a block north of Washington Square Park, YIMBY reports. YIMBY got its hands on several new renderings designed by Robert A.M. Stern Architects for a residential building at 14 Fifth Avenue, that would reportedly stand 27 stories tall, though plans have yet to be filed with the city’s Department of Buildings.
YIMBY reports that the project will be developed by Madison Realty Capital. That developer did in fact purchase the existing five-story rental building at the site for $28 million in 2015. At that time, Madison revealed to Crain’s that it intended to covert the building into high-end rentals.
Crain’s noted at that time that the site had air rights that would allow the building to triple in size, which could possibly explain the scale of the RAMSA renderings, but it’s not yet clear if those are accurate.
Back in 2015, the building on Fifth Avenue still had a few rent-stabilized apartments, but most of the units were empty. Madison Realty told Crain’s that it planned to covert the remainder into high-end rentals, and then think about expanding in the future. Curbed has reached out to Madison to clarify, and will update this post with that information.
Before this new RAMSA plan is approved it will have to clear the city’s Landmarks Preservation Commission, as the site sits within the Greenwich Village Historic District. YIMBY reports that a hearing on the building will take place soon, and Curbed has reached out to the LPC to verify this, and will update this post accordingly.
If approved, the building would certainly tower above its immediate neighbors, and that hasn’t gone down well with the Greenwich Village Society for Historic Preservation.
“Any developer that would think that a tower of this grossly out-of-context scale would ever muster approval in the Greenwich Village Historic District is sadly deluded,” Andrew Berman, the executive director of the GVSHP, said in a statement. “If this developer thinks that this proposal would receive anything less than vociferous opposition from the public and affected community, he’s in for a rude awakening.”