424 Fifth Avenue

Midtown, New Developments

The 103-year-old landmarked Lord & Taylor flagship store at 424 Fifth Avenue may be getting a luxurious makeover. As the New York Post learned, the speculative project includes constructing a steel-and-glass skyscraper and redeveloping the building into an office and residential tower, keeping the 11-story department store as the base. Sources tell the Post that NYC property executive Richard Baker, who acquired Lord & Taylor in 2008, is behind the development talks. And though few details are known, “real estate insiders” point out that nearby towers rise as high as 60 stories.

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