The Fifth Avenue Hotel is located in the booming NoMad neighborhood, at the corner of 5th Avenue and West 28th Street and has been owned by the Ohebshalom family for more than 25 years. The asset was previously home to McKim Mead & White’s historic 1907 bank building in the Madison Square North Historic District.
Informal consultations with the Landmarks Preservation Commission indicated that only four to five stories could be added to the existing structure. However, extensive and concentrated research by Pink Stone and a variety of industry specialists led to the discovery of a 1911 New York Times article describing a proposal for a “tall loft building” on-site. Over an 8-year coordinated effort, Pink Stone and its associates were able to persuade the Landmarks Commission that the previous proposal and current design proposals were appropriate and accretive to the neighborhood’s historic charm. This resulted in the granting of an additional 100,000 square feet on the property. Ownership has since worked with Perkins Eastman, PBDW Architects, Martin Brudnizki Design Studio, and others to develop a 230-foot tall, 24 story reinforced concrete tower behind the existing 116-year-old McKim, Mead & White-designed building, in addition to a full renovation and conversion of the existing structure for hotel use.
When completed the hotel will yield 153 hotel rooms, 129 which will be located within the new tower, and the remaining 24 placed in the historic structure, to be called the Mansion.
The hotel will boast two outdoor rooftop bars along the northern and southern perimeters of the 23rd floor, providing sweeping views of both NoMad and Midtown. Other amenities include a best-in-class, multi-level restaurant, a café, a bank vault converted into a wine cellar and a 5,000 square foot ballroom with 20-foot-high ceilings and an outdoor terrace adjacent to the main lobby.
The Fifth Avenue Hotel is conveniently located within a short walk to Madison Square Park, Union Square and the Empire State Building, and serves as an ideal location to transit hubs.
The Hotel is expected to open in 2022.