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Curbed is reporting that the long vacant commercial space at 242 5th Avenue (between 27th and 28th Street) will become a 4-unit residential development in Nomad. The old and beautiful iron and glass space was bought by the Pan-Brothers Associates and includes a vacant storefront as well. Because it is a landmarked building, they will not be able to tear it down or turn it into a skyscraper Of course across the street is a much larger new condo development, 241 Fifth Avenue, which should start sales this year.

We assume the project at 242 5th Avenue will be condos. Anyone have more info?

242 5th Avenue

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