Permits have been filed for a 29-story mixed-use building at 4 East 49th Street (aka 607-609 Fifth Avenue) at the southeast corner of Fifth Avenue and 49th Street in midtown Manhattan. The corner parcel is located across the street from two iconic properties, the Saks and Co. building which houses Saks Fifth Avenue and the Rockefeller Center complex.
The proposed 400-foot tall tower will total 192,174 square feet and include both residential and commercial space. The residential component will comprise the bulk of the build out at 151,425 square feet. The commercial component will comprise 40,749 square feet and will most likely include some retail space.
The development will incorporate the 14-story structure that currently stands on the site. The Puma flagship store has occupied the retail portion of the property.
The proposed plans call for 76 residential units. The average size of an apartment, based on gross numbers, will be about 1,992 square feet. The permit does not reflect any on-site parking.
The parcel claims 175 feet of frontage along East 49th Street and 53 feet along Fifth Avenue. The lot area measures 12,831 square feet and currently has a gross floor area of 123,931 square feet. The proposed development calls to increase the gross floor area by approximately 70,000 square feet.
Rudolf Abramov of RJ Capital Holdings is listed as the owner behind the application. The development at 4 East 49th Street would be the company’s first foray into Manhattan; the firm’s core business has historically been in Queens. The architect for the project is listed as Rafael Vinoly Architects PC.
Given the midtown location, public transportation is aplenty. Go west a few blocks and find the Rockefeller Center station at 48th Street and 6th Avenue. The station is serviced by the B, D,F, and N lines. To the east at Lexington and 51st Street, you will find the 6 train.