With efforts to preserve the buildings at 316 Fifth Avenue in New York City’s (NYC) Koreatown failing, Cottonwood Development hopes to build a 39-story, 539-ft.-tall residential building designed by Kohn Pedersen Fox (KPF) at the site, New York YIMBY reports. Numerous towers of at least that scope have been recently completed or are under construction in NoMad (north of Madison Square Park) a few blocks to the south, but this would be the first residential skyscraper in Koreatown. The plan includes 6,809-sq.-ft. of retail on the first two floors, mechanical components on the third through seventh floors and full-floor residential units starting on the eighth floor. The 33rd through 36th floors would house a pair of duplex penthouses.