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Fifth Avenue poised to sprout another luxury tower

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A developer has filed plans for a 40-story apartment building just north of Nomad’s planned supertall

The former Kaskel & Kaskel building at 316 Fifth Avenue may fall to a luxury apartment tower.

Fifth Avenue is on the rise. Developer Cottonwood Management has filed plans with the Department of Buildings for a 40-story tower at the corner of Fifth Avenue and West 32nd Street. The filing comes a little over a month after Five Points Development announced its intention to bring a 1,001-foot supertall tower to the corner of Fifth Avenue and West 29th Street.

According to the filings first spotted by The Real Deal, Cottonwood’s plans would bring just 27 high-end residential apartments, most likely condos, to the Nomad corner. Plans call for retail space on the building’s cellar, first, and second floors. Apartments would begin on the building’s eighth floor, and include two duplex apartments on its top four floors. Amenities will be on the building’s fourth floor and include a reading room, gym, and terrace. The Real Deal reports that the building will be part of Cottonwood’s Echelon luxury lifestyle brand.

The applicant of record for the building is Richard Nemeth at Kohn Pedersen Fox, but a representative for the project declined to confirm the firm’s involvement as architect. If plans go through, the tower will replace the impressive 115-year-old Beaux Arts Kaskel & Kaskel Building at 316 Fifth Avenue. In writing about the building, Daytonian in Manhattan describes it like so:

Two great arched openings spanned three floors on the Fifth Avenue and easternmost 32nd Street sides. A stone cornice supported by ornate brackets separated the rusticated piers below and the sixth story and above, a massive copper-trimmed mansard roof erupted bold copper dormers.

Above the two arches, large marble cartouches were emblazoned with carved K’s. The impressive structure was not to be overlooked and shouted the firm’s high-class status.

Demolition plans have yet to be filed for the site.