News
PRIME TIME
January 25, 2011
| One of NYC’s few remaining prime development parcels is on the block. Situated along the southern side of Bryant Park’s great lawn, thesite would allow for the construction of a new 225k SF, 32-story building. |
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| The 12,138 SF parcel—four adjacent lots—is situated at 20 W 40th St (between Fifth and Sixth Aves) directly across from the park and the New York Public Library. According to Eastern Consolidated’sAlan Miller, who was tapped to market the property along with Eastern Consolidated chair Peter Hauspurg and Azita Aghravi, the site is zoned for multiple uses, giving the new owner flexibility to construct a hotel (a mix of 247 rooms and 60 suites), mixed-use hotel-residential (185 keys and 78-91 residential units), or mixed-use residential-commercial (residential above first six floors, with commercial or big-box retail/office mix on first six floors). |
