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All renderings credit of DBOX/Marin Architects All renderings credit of DBOX/Marin Architects
For a while at the height of lockdown, Fifth Avenue looked eerily quiet between closed storefronts and fewer visitors. However, data showed a massive surge in tourism in 2021, and those numbers are expected to climb in 2022 with the reopening of international borders. When they come, there will be a lot to see along Fifth Avenue: The Tiffany flagship renovation is winding down, and new flagships are in the works for Alo Yoga, Aritzia and Mango (in the former home of Ralph Lauren Polo). Aman’s first New York hotel is expected to open in the Crown Building at 730 Fifth Avenue in August 2022; in the meantime, closings have commenced at Aman New York Residences, the condos on top of the hotel rooms, with impressive figures (though no word yet on the five-story, $180 million penthouse).
A few blocks down at 685 Fifth Avenue, Mandarin Oriental Residences, Fifth Avenue quietly launched sales in January 2022 with closings to commence later this year. Developer Michael Shvo purchased the upper floors of the Gucci Building, as it has been known in honor of its longtime retail and office tenant, for $135 million with partners BLG Holdings and Deutsche Financial. A short time later, they received approval to turn the 100,000 square feet of office space into luxury condos. The building quickly attracted attention for its prime location, luxurious apartments, and residents-only restaurant from Michelin-starred chef Daniel Boulud. Most recently, SHVO announced an exclusive partnership with Saks Fifth Avenue and Mandarin Oriental Residences, Fifth Avenue.
Saks Fifth Avenue

“Partnering with Saks Fifth Avenue furthers our mission to bring together several of the world's most coveted names and partners to create a new standard of elevated luxury living” — Michael Shvo, Founder and Chairman, SHVO

As part of the partnership, residents will enjoy access to a dedicated Saks concierge and Saks stylist. Perks will include access to exclusive events, private after-hours shopping, at-home styling appointments, and same-day delivery. This collaboration is the first of its kind, and the Saks Fifth Avenue flagship at 611 Fifth Avenue commemorated it with “It Happened,” a window display by renowned photographer David Lipman.
Fifth Avenue apartments Kitchen
685 Fifth Avenue apartments Peek at the interior finishes
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Certain luxury apartments in New York City come fully furnished with designer pieces, but Mandarin Oriental Residences, Fifth Avenue takes that to a whole new level: In addition to furnishings and art, all units will be delivered with Mandarin Oriental mattresses and Frette linens in the bedrooms. Molteni kitchens will come equipped with Miele appliances. Finally, while some furnished apartment listings say, "Just bring your toothbrush!", this building has that covered, too -- the baths come with Mandarin Oriental-branded toothbrushes as well as Acqua di Parma bath products, Dyson hair dryers, and Mason Pearson hairbrushes.
An offering plan with a $342.76 million sellout was accepted in March 2021. Prices are expected to start at $2.425 million for studios (also known as “junior suites”; h/t Forbes), $4.255 million for one-bedrooms, and $7.48 million for two-bedrooms. A collection of penthouses with private terraces is expected to list later this year for $15 million each.
685-Fifth-Avenue-1 Renderings of 685 Fifth Avenue via SHVO and Marin Architects
685-Fifth-Avenue-2 Rooftop terrace
Daniel Boulud Mandarin Oriental Restaurant
Mandarin Oriental Fifth Avenue Attended lobby
685 Fifth Avenue Rooftop pool
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Mandarin Oriental -2
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Mandarin Oriental -043
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Mandarin Oriental
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Residents will have the option of visiting Boulud Prive on-site or ordering room service from a Boulud-curated menu. The amenities include a fitness center, spa with sauna, steam room, and treatment rooms, and rooftop terrace with pool, lounge, bar, and views of Central Park. Hotel-caliber services are set to include concierge, housekeeping, personal training, personal shopping, and pet care.

Another perk of living in the building is its central address. Central Park and Bergdorf Goodman are just up the street, and the building also offers easy access to Rockefeller Center and the Theater District. Just up the street, the ultra-elite Core Club signed a 20-year lease at 711 Fifth Avenue, another Shvo building, in December 2021.
Bergdorf Goodman is located a stone's throw from the site

New and Future Fifth Avenue Buildings

Aman New York, 730 Fifth Avenue
26 stories | 83 rooms and 22 units
Opening August 2022

The Crown Building has long served as an unofficial landmark on Fifth Avenue, and this onetime office has been reborn as the home of Aman's first New York property. The facade and architectural details were restored to their original glory amidst the conversion, and the interiors were transformed into 83 hotel suites with condos starting on the 11th floor to make the most of skyline and Central Park views. The suites will feature Japanese-inspired interiors as well as functioning fireplaces.

Residents and guests alike will have access to unparalleled concierge service, a three-story, 2,300-square-foot spa, a wine room, a subterranean Jazz Bar, a wraparound Garden Terrace, Italian restaurant Arva, and Japanese restaurant Nama. Reservations are expected to begin July 25, 2022.
730-Fifth-Avenue-02 June 2022 (CityRealty)

Tiffany & Co. flagship, 727 Fifth Avenue
Completion estimated for fall 2022

727-Fifth-Avenue-01 Flagship rendering (Tiffany & Co.)
Fifth Avenue and 57th Street are both known for their high-end shopping, and the Tiffany flagship is situated where the two meet. In August 2020, the jeweler announced plans for a glass addition by the Rem Koolhaas-founded OMA. It will replace a darker glass addition from the 1980s and feature gently undulating walls and column-free interiors. Additionally, OMA has partnered with Tiffany creative director Reed Krakoff on a renovation of the store's interiors to create what Mr. Krakoff describes as making people "feel as though they have been transported into the extraordinary world of Tiffany."

660 Fifth Avenue
39 stories
Completion estimated for 2022

660-Fifth-Avenue-01 Renderings of 660 Fifth Avenue (Brookfield Properties)
After Brookfield Properties purchased the ground lease on 666 Fifth Avenue from Kushner Cos. in 2018, they immediately rechristened it 660 Fifth Avenue and embarked on a design overhaul. Renderings from Kohn Pedersen Fox show mullion-free floor-to-ceiling windows, column-free office space with higher ceilings, and outdoor terraces on multiple levels. The renovation will also include include new high-efficiency heating and cooling systems as well as a new air supply system.

660 Fifth Avenue was originally known as the Tishman Building, and the building's repositioning would allow a new tenant to put its name on it. The renovation also calls for new retail space; current retail tenants include Uniqlo and Zara.
660-Fifth-Avenue-04 June 2022 (CityRealty)

520 Fifth Avenue
71 stories | 145 units
Completion estimated for 2023

Just up the street from Bryant Park and the Stephen A. Schwarzman Building, work is underway on 520 Fifth Avenue. Permits call for office space for floors 4-28, residential units on floors 31-68, and separate lobbies for each component. Residential amenities are expected to include a fitness center, pool, sports court, spa, and Sky Lounge, and the building's towering height of 995 feet high will allow for spectacular skyline views for workers and residents alike.
520-Fifth-Avenue-02 520 Fifth Avenue, June 2022 (CityRealty)

Tower Fifth, 5 East 51st Street
1,556 feet high | 96 stories
Completion TBA

5-East-51st-Street-01 Rendering of Tower Fifth (Macklowe)
In April 2019, developer Harry Macklowe announced plans for "a 21st-century building" with a soaring height and a Closed Cavity system that would drastically reduce solar heat gain. The office tower would step back from St. Patrick’s. Tenant amenities would include a lap pool, yoga room, and multi-level running track, and a public observatory was also planned. Between the demolition of the existing buildings, seeking permission from the Landmarks Preservation Commission, seeking the required zoning changes, and transferring air rights from St. Patrick's Cathedral, a completion date is not yet available.
5-East-51st-Street-03 Site conditions (CityRealty)

Rolex Tower, 665 Fifth Avenue
419 feet high | 21 stories
Completion TBA

665-Fifth-Avenue-01 Renderings of 665 Fifth Avenue (David Chipperfield Architects)
665-Fifth-Avenue-03 Demolition at the site (CityRealty)

574 Fifth Avenue
Completion TBA

574-Fifth-Avenue-01 Rendering of 574 Fifth Avenue (Extell)
574-Fifth-Avenue-02 May 2022 (CityRealty)

Puma flagship, 609 Fifth Avenue
Completed in 2019


Nike flagship, 609 Fifth Avenue
Opened in 2018

650-Fifth-Avenue-01 Fifth Avenue flagship (Nike)

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