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Old Posted Apr 14, 2015, 5:55 AM
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chris08876 chris08876 is offline
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Join Date: Jul 2013
Location: New Jersey - Somerset County
Posts: 25,189
Some general news. This site has the potential for a high rise or multiple towers. Will reference this post in the future if something does come, and we see renderings and so on. First step is for the lot to get a buyer, and then we will see depending if they go commercial, residential or under pressure go for a park which is unlikely in this market:


Potential Purchase: East River at North 11th Street

Developers, however, saw an opportunity to build something transformative at the 11-acre property on the East River at North 11th Street, while locals saw a park promised to them a decade ago. Those competing visions have already produced conflict over the last major parcel in one of the city's most desirable neighborhoods.

The owner of the site, Norman Brodsky, believes his land could fetch $500 million on the open market were it already zoned for residential. At the very least, it could sell in the tens of millions as currently zoned for about 600,000 square feet of commercial space. But the renewed interest in the park has complicated matters and put off potential buyers.
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