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Landmarks
401 Fifth Avenue
WHEREAS, The applicant, 400 Fifth Realty LLC, proposes to transfer development rights from 401 Fifth Avenue, aka the Tiffany Building, located at the corner of Fifth Avenue and 37th Street, to a site located at 400 Fifth Avenue, across the street, at the corner of Fifth Avenue and 36th Street, pursuant to section 74-79 of the Zoning Resolution; and
WHEREAS, The designated landmark at 401 Fifth Avenue is the Tiffany Building, built in 1903-06 in an Italian neo-Renaissance style and designed by world famous McKim, Mead & White; and
WHEREAS, The applicant seeks to modify the height and setback regulations as well as modify the requirements for pedestrian circulation; and
WHEREAS, Under the section 74-79 of the zoning code, the proposed building must have a harmonious relationship with the landmarks around it; and
WHEREAS, Under the section 74-79 of the zoning code, a program for the continuing maintenance of the landmark must be established; and
WHEREAS, This proposal will be reviewed by the Land Use and Zoning Committee of Community Board Five at a future date that would address the zoning requirements; and
WHEREAS, An application for the transfer of development rights at this site, under a different ownership and a different architect, had previously been made in October 2004 and May 2005, and in both instances, Community Board Five recommended denial; and
WHEREAS, The vacant site at 400 Fifth Avenue is 16.000 sq/ft and has a 15 FAR; and
WHEREAS, The applicant seeks to transfer 173.692 sq/ft from the Tiffany Building; and
WHEREAS, The proposed building would be a mixed use building with 173.000 sq/ft reserved for a hotel and 315.000 sq/ft dedicated to residential use; and
WHEREAS, The proposed building would be 591 feet high with a 40 foot mechanical unit, and would be composed of a tower on a tripartite base with an abstract cornice, a curved facade between the avenue side and the street side of the building; and
WHEREAS, As a result of the transfer of development rights, the massing of the proposed tower would allow for a parallelepiped shaped building with no recessed portion; and
WHEREAS, The proposed building is located in the vicinity of several landmarks, including the Tiffany Building, the Empire State Building, the building adjacent to Tiffany and the building adjacent to 400 Fifth Avenue; and
WHEREAS, Pursuant to section 74-79 of the Zoning resolution, the applicant proposes a preservation plan for the Tiffany building that would include rebuilding the original tile roof (not visible from the street), repair the sidewalk and give an easement for the façade to the New York Landmarks Conservancy for which the developer would receive a tax deduction, and
WHEREAS, Although there was some concern that the preservation plans may not be adequate; therefore be it
RESOLVED, That Community Board Five recommends approval of the application to request that the Landmarks Preservation Commission issues a report to the City Planning commission pursuant to section 74-79 of the Zoning Resolution to permit transfer development rights from the historic Tiffany Building, located at 401 Fifth Avenue to 400 Fifth Avenue.
The above resolution passed with a vote of 27 in favor, 10 opposed, 1 abstention. 