Shanghai Municipal Investment

520 5th avenue

Ceruzzi Hopes To Begin Construction At 520 Fifth Avenue Next Spring

Developer Louis Ceruzzi has already begun demolition work at his property at 520 Fifth Avenue. We now know that construction will begin before New Years on the 71-story Handel Architects-designed tower, courtesy of an interview Ceruzzi gave to the Commercial Observer. In the interview, he also gave an update on his development at 147 East 86th Street. He said there is much work to be done relating to the Second Avenue Subway project, but real work should start in March.

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520 Fifth Avenue

Developers Close On 520 Fifth Avenue, Plan 71-Story Mixed-Use Tower, Midtown

In June, Ceruzzi Properties was reportedly in contract to purchase 520 Fifth Avenue, on East 43rd Street, and now the developer has closed on the $325 million site, according to Commercial Observer. Shanghai Municipal Investment’s U.S. arm is partnering with Ceruzzi, and the team is planning to follow through with applications filed back in 2014, which call for a 71-story mixed-use tower.


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