Posted Mar 30, 2018, 12:51 AM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,985
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https://commercialobserver.com/2018/...1710-broadway/
Gary Barnett’s Extell Selling Off West 54th Street Site for Roughly $200M
211 WEST 54TH STREET
BY LAUREN ELKIES SCHRAM
MARCH 29, 2018
Quote:
Gary Barnett’s Extell Development Company is selling off a parcel on West 54th Street that is zoned for residential condominiums, Yoron Cohen of Colliers International, who is marketing the site, told Commercial Observer.
...Cohen believes the 288,000-square-foot zoned site at 211 West 54th Street between Seventh Avenue and Broadway is prime for pied-a-terres in the 600- to 1,000-square-foot range, with an average price of $2,800 per square foot. There are “a lot of large units [in the area], but [you] don’t have a lot of pied-a-terre units,” he said.
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Quote:
When Extell bought the site, it was bigger—more like 300,000 square feet— and was part of a big assemblage on the block. It had an address of 1710 Broadway and was going to be a commercial building. Those plans have been abandoned, Cohen said, because Barnett couldn’t convince all of the property owners to sell their sites. So “now he’s going to break it up and sell it piecemeal,” Cohen said. Extell is retaining some of the air rights at 211 West 54th Street to apply to its other sites, rendering the plot smaller.
Colliers gave it a street address, he said, as that’s “more applicable for a residential building.”
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