Slate Property Group, Pi Capital Announce Multifamily Project Across from Empire State Building

NEW YORK CITY — Slate Property Group and Pi Capital Partners, a New York City-based real estate family office, have announced plans to develop a ground-up luxury apartment building at 335-339 Fifth Ave. in Midtown Manhattan directly across the street from the Empire State Building. The 95-unit property will be situated at the corner of Fifth Avenue and 33rd Street. Preliminary plans for the 18-story, 89,000-square-foot building call for 95 units ranging from studios to two-bedrooms, ground-floor retail and amenities. The parcel is currently a vacant lot that the Pi family has owned since 1997. The owners expect to break ground by mid-to-late 2026 and will utilize New York’s 485-x tax abatement program, which requires 20 percent of a building’s units to be designated as affordable. Slate Property Group is an owner, operator, developer and lender, primarily focused on multifamily in the New York metropolitan area.